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The Latest Breaking News from HMRC

Voices: ‘No loopholes’: Readers demand watertight wealth tax after millionaires’ letter to Andy Burnham

YOUR VIEWS: From exit taxes to a crackdown on advisers, our community sets out exactly what they’d need to see before trusting a wealth tax to work

The Independent UK

HMRC Loses Battle Over How 'Thomas the Tank Engine' Royalties Are Taxed: Creator's Family Avoids 45% Tax Hit

The Awdry family won a significant High Court case against the HMRC, ensuring royalties from Thomas the Tank Engine books are taxed as capital, not income.

International Business Times UK

Making Tax Digital 7 Aug Deadline Nears: HMRC's Latest Updates Could Catch Sole Traders and Landlords Off Guard

HMRC mandates quarterly digital tax updates for sole traders and landlords with income over £50,000, starting April 2026. The shift aims to modernise tax reporting, replacing annual submissions.

International Business Times UK

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Tories ask HMRC to investigate whether Nigel Farage owes tax on £5m gift

Party chair queries status of funds Reform leader received from crypto billionaire Christopher Harborne

The Guardian - UK

HMRC Loses Landmark Inheritance Tax Case: How Thousands of Families May Benefit

A landmark Court of Appeal ruling against HMRC could benefit thousands of families with inheritance tax disputes. Learn about the implications for home loan schemes and estate planning in Britain.

International Business Times UK

Wedding suppliers may need to make check about tax liabilities, says HMRC

If someone has earned more than £1,000 from their side hustle in a tax year, they may need to complete a self-assessment tax return, HMRC said.

Evening Standard

Wealth tax could raise £10bn a year, academics tell Andy Burnham

Andy Burnham has hinted at tax reforms, with some of his closest aides and allies publicly having called for wealth taxes

The Independent UK

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Wealth tax on UK’s super-rich could raise £10bn a year, Andy Burnham told

New PM urged to introduce a 2% minimum charge on households with more than £100m in wealth

The Guardian - UK

Golden era or overcapacity: Why London's private members' club boom might end in bust

As a £100m venue opens its doors in London, does it herald a golden era for clubs — or a doomed bubble?

Evening Standard

HMRC issues update on State Pension tax error that affected 1.4 million pensioners

HMRC has issued a fresh update to MPs after admitting a long-running State Pension tax error affected up to 1.4 million pensioners....

The National (Scotland)

Reform could be hit with £3m tax bill because of Farage’s £5m donation, tax expert claims

Dan Neidle says he ‘would now be surprised if HMRC do not open an enquiry’

The Independent UK

Corporation Tax Payment Outsourcing: How UK Accountancy Firms Save Time and Avoid Penalties

In April 2026, HMRC doubled the fixed penalties for late corporation tax returns. This was the first increase since 1998. A CT600 filed even one day after the deadline now triggers a £200 penalty. Miss three consecutive returns by more than three months, and that figure reaches £2,000 per return,…

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10m people aged 65 and over expected to be income tax payers in 2026-27

In 2026-27, the number of people aged 65 and over expected to be paying income tax was put at 10,200,000 in HMRC figures.

Evening Standard

Britain Is Changing How It Taxes Crypto. DeFi Users Will No Longer Face Immediate Capital Gains Bills.

The United Kingdom is overhauling the way it taxes certain cryptocurrency transactions, becoming one of the first major economies to formally recognize that lending digital assets and participating in decentralized finance liquidity pools do not always represent a meaningful change in ownership.

International Business Times

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International Business Times UK

Jannik Sinner And Linda Noskova Lose Almost Half Their Prize Money After £3.6M Wimbledon Paydays

Jannik Sinner and Linda Noskova's Wimbledon victories come with substantial UK tax liabilities, reducing their £3.6 million prizes significantly due to non-resident sportsperson tax rules.

The National (Scotland)

Scots urged to check if they need to pay tax ahead of major deadline

People in Scotland have been urged to check now if they need to pay any tax for the 2025-26 year, ahead of a key deadline at the end of the month

TechRadar

More than half of UK SMBs admit they're not ready for new digital tax deadline

HMRC's new MTD rules affected £50k+ earners this year, but 55% of them still aren't ready for the August 7 2026 deadline.

The Independent UK

How a US exemption will see UK miss out on £600m in tax revenue every year

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The Independent UK

UK to miss out on £600m a year after allowing US exemption from landmark tax deal

The deal saw nearly 150 countries agree to a 15% global minimum tax to stop large global companies shifting profits to jurisdictions with lower taxes – but the US will be exempt

Evening Standard

UK to miss out on £600m in tax due to US exemption, says HMRC

It confirmed the expected tax reduction as part of scrutiny by Parliament’s Public Accounts Committee into tax paid by major multinational firms.

The Independent UK

Former top Treasury adviser warns that HMRC plans to track personal finances with AI

Exclusive: Dr Chris Wales, who was a member of Gordon Brown’s Council of Economic Advisers for more than six years, has sounded the alarm over how artificial intelligence will be used to track people’s income and expenditure without their knowledge

The National (Scotland)

Scottish firm goes into liquidation owing £175k after being caught smuggling tobacco

A SCOTTISH businessman has been banned from directing companies after attempting to smuggle tobacco hidden in furniture into the UK ...

The Economic Times

Returning from the UK? What to know before transferring your pension

Thousands of Indian professionals returning from the UK often leave their pension untouched, facing risks due to misunderstandings of HMRC rules and product choices. Ignoring this vital asset incurs inflation and regulatory costs. Currently, a strong pound, cooler Indian equity markets, and favourable annuity rates present a unique opportunity for…

Evening Standard

BlueCrest says UK no longer a serious place to do business after court loss

On Wednesday, the firm lost a roughly four-year legal battle about how payouts for hedge fund traders should be taxed.

The Independent UK

Mapped: What the average asking price buys across Britain

What buys a five-bed house in Scotland may only get you a studio flat in parts of London, analysis reveals

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