Events and software for Making Tax Digital
HMRC is continuing to host events across the UK to help agents prepare for Making Tax Digital (MTD) for income tax. Registration is now open for the following events, which will each take place from 11am to 3pm:
- 3 June 2025: Liverpool
- 3 July 2025: Nottingham
- 6 August 2025: Manchester
- 9 September 2025: Bristol
- 13 October 2025: Birmingham
Find out more in HMRC’s Agent Update 131, including how to secure a place.
HMRC has updated its list of software that works with MTD for income tax, adding QuickFile Accounting Software to the section Software available now, and moving SE_reports from that section to the section Software in development.
Senior accounting officer experience
HMRC is asking for feedback on the senior accounting officers (SAO) notification and certificate submission process to help it build a new digital service. HMRC says that responses to the survey “will be kept confidential and used for internal HMRC research purposes only”.
MPs call for delay to IHT reforms
Parliament’s environment, food and rural affairs committee has published a report calling on the government to delay its reforms to agricultural property relief and business property relief by one year, to April 2027. Earlier this month, ICAEW warned that the government’s plans for inheritance tax (IHT) could have “severe consequences” for UK business and the agricultural sector.
HMRC VAT research
HMRC has published research on the following:
- The impacts of penalty reform on VAT-registered businesses. Findings include that some aspects of the current regime are perceived to be fairer compared to the previous regime but that concerns remain that the rules are “overly punitive” for those struggling to comply due to financial difficulties or life or business events.
- VAT repayment methods. HMRC is keen to encourage more businesses to consider BACS as a method of VAT repayment. The research suggests that lack of awareness is the main barrier to switching to BACS and that, for those customers who are aware of BACS as an option, HMRC should consider focusing its communications on addressing barriers to switching.
International tax round-up
CFE Tax Advisers Europe has published its latest collection of tax top 5 developments. This includes the publication of an updated and consolidated version of the OECD’s commentary to the global anti-base erosion (GloBE) model rules.
Tax Faculty
This guidance is created by the Tax Faculty, recognised internationally as a leading authority and source of expertise on taxation. The Faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.