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Tax news in brief 7 May 2025

Author: ICAEW Insights

Published: 06 May 2025

Highlights from the broader tax news for the week ending 6 May 2025, including: a HMRC one-to-many campaign focusing on wealthy individuals; and new and updated tools from HMRC.

HMRC chases late tax returns

HMRC is writing to high newt worth individuals who are yet to comply with:

  • a notice to file a self assessment (SA) return for 2022/23, but have submitted returns for 2021/22 and 2023/24; or
  • notices to file SA returns for 2021/22 and 2022/23, but have submitted returns for 2021/22 and 2023/24.

The taxpayer is asked to bring their tax affairs up to date by 9 June 2025. HMRC says that a copy of the letter will be sent to the taxpayer’s agent if they have one.

New compliance check tool

HMRC has launched a new online interactive tool to help individuals and businesses understand:

  • what a compliance check is;
  • why a compliance check has been opened; and
  • how to proceed

The tool brings together existing guidance and videos in one place with the intention of making it easier for taxpayers to find the information they need. HMRC says that the tool will not collect or store any information provided by the user.

Further information

HMRC press release: HMRC launches new online interactive help for compliance checks - GOV.UK

HMRC updates CEST tool

HMRC has updated its Check employment status for tax (CEST) tool to simplify the language, include additional information where special rules apply and to provide links to related guidance. This was first announced as part of the government’s tax administration and simplification update delivered on 28 April 2025.

International tax round-up

CFE Tax Advisers Europe has published its latest collection of tax top 5 developments. It includes commentary on the OECD’s statistical release on research and development (R&D) tax incentives. CFE comments that the data shows a “sustained shift towards indirect fiscal measures over direct funding instruments, with 23 out of 38 OECD nations providing more R&D support via tax incentives than through direct subsidies”.

CFE has also published the April 2025 edition of CFE Connect, which includes details of events and meetings and technical work undertaken.

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