MTD for Income Tax: First Quarterly Update Due 7 August — What Every CFO Must Lock Down in the Next Two Weeks
HMRC has put a two-week clock on the first real test of Making Tax Digital for Income Tax. Sole traders […]
Tax & Accounting
Tax & Accounting
B&M Retail [2026] UKFTT 1062: Why a £1.17m Excise Penalty Fell on ‘Reasonable Excuse’ — and What Every CFO with Goods Chains Must Fix
In mid-July 2026 the First-tier Tribunal released B&M Retail Limited v HMRC [2026] UKFTT 1062 (TC) and quashed an excise
Tax & Accounting
RCB 6 (2026): HMRC Confirms Locum Doctor VAT Exemption — and Why the Refund Is Smaller Than the Headline
On 17 July 2026 HMRC published Revenue and Customs Brief 6 (2026): its settled position on the VAT treatment of
Opus Labour [2026] UKUT 275: Why ‘Should Have Known’ Still Kills Input VAT — and Puts the Director on the Hook
On 20 July 2026 the Upper Tribunal released (1) Opus Labour Services Limited (in liquidation) (2) Jason Giller v HMRC
Tax & Accounting
BlueCrest [2026] UKSC 18: Why ‘Significant Influence’ Now Means Legal Rights, Not Running the Book — and What Every LLP CFO Must Recheck
On 1 July 2026 the Supreme Court handed down HMRC v BlueCrest Capital Management (UK) LLP [2026] UKSC 18. BlueCrest’s
Tax & Accounting
Pillar Two Late-Filing Relief Ends 1 August: What Every CFO Must File Before HMRC’s Penalty Shield Drops
HMRC’s transitional approach to Pillar Two late-filing penalties ends on 1 August 2026. That is not a soft summer target.
Tax & Accounting
Mandatory Foreign PE Exemption From 2027: Why Foreign Branch Losses Stop Sheltering UK Profits — and Why Anti-Avoidance Already Started on 13 July
On 13 July 2026 — Legislation Day — HMRC published draft Finance Bill 2026-27 clauses making the foreign permanent establishment
Tax & Accounting
HMRC’s Distributions Consultation Closes 14 September: Why Buybacks, Demergers and Capital Extractions Need a CFO Stress Test Now
HMRC’s consultation on modernising the taxation of distributions and repayments of capital from companies is easy to file under “policy
Carried Interest Is Now Trading Income: What HMRC’s July Reminder Means for PE CFOs and Fund Executives
HMRC’s latest Agent Update is not subtle. Buried among the usual operational noise is a clean restatement of something every
Capital Goods Scheme Changes on 29 July 2026: Why the £600,000 Threshold and Computer Exit Matter for Every CFO with Property Capex
From 29 July 2026, the UK Capital Goods Scheme gets its first meaningful simplification in years. Computers drop out of