HMRC wants to make Direct Debit mandatory for all VAT and PAYE payments — affecting up to 87% of registered businesses. The consultation closes 16 August 2026. Here’s what every CFO needs to know about working capital, treasury risk, and the six actions to take now.
On 26 June 2026, a deadline quietly passed and almost no one outside the tax profession noticed. It was the
The Upper Tribunal has dismissed Barclays Services Corporation’s appeal against HMRC’s refusal to allow a US Delaware entity into the Barclays UK VAT group. Fixed establishment requires real substance on the application date — not backdated arrangements, not substance-in-progress. HMRC’s protection of the revenue powers are broader than previously understood. Six CFO actions for any business with cross-border VAT group arrangements.
The Upper Tribunal has handed HMRC a comprehensive win in Swiss Centre Ltd v HMRC [2026] UKUT 227, confirming that a £34 million payment taken to P&L was not deductible for corporation tax — not under the loan relationship rules, not as capital enhancement expenditure. Six CFO actions before your next group finance review.
The First-tier Tribunal found that public EV charge points can qualify for 5% VAT, not 20%. HMRC is appealing but the protective claim window is open now. Six CFO actions before your oldest recoverable period expires.
HMRC’s new criminal offence for reckless untrue statements in direct tax closes for consultation on 16 August 2026. The threshold drops from dishonesty to recklessness — and every CFO who signs off a tax return needs to understand what that means.
HMRC’s 23 June 2026 consultation on modernising the distributions framework proposes sweeping changes to capital reduction demergers, share buybacks, loans to participators, and capital vs income treatment for individual shareholders. If these proposals become law, the structuring toolkit for owner-manager exits, PE transactions, and pre-sale demergers will change fundamentally. The consultation closes 14 September 2026.
7 August 2026: the first MTD for Income Tax quarterly deadline is six weeks away. Agent Update 144 confirms no further delay. Here are six CFO actions before the window closes — and what the grace period does and does not cover.
The first UK Pillar Two filings are due on 30 June 2026 — six days away. If your group has consolidated revenues above €750 million and any UK presence at all, you are almost certainly in scope. And the most common mistake is assuming someone else has it covered.
The Five Eyes say AI cyberattacks are months away — and that cyber is now a board responsibility, not an IT problem. What that means for the finance function, the deal table, and the portfolio.
