HMRC provides form IHT205 for reporting estates that are unlikely to incur Inheritance Tax liability where the deceased died between 6 April 2011 and 31 December 2021. The form is submitted via post and applies specifically to excepted estates that fall below the tax threshold. Personal representatives and estate administrators should use this form when filing Inheritance Tax returns for eligible deaths within the specified date range.
Source: HMRC (GOV.UK) – Read the original
HMRC has published accredited official statistics tracking monthly property transactions completed across the UK where the transaction value is £40,000 or above. This statistical series provides data on property deals meeting the specified threshold, offering insights into transaction volumes and patterns in the UK property market. The figures are designated as accredited official statistics, meeting quality and methodological standards set by the UK Statistics Authority. This data is relevant to customs and trade professionals monitoring broader economic and property sector trends affecting business and compliance environments.
Source: HMRC (GOV.UK) – Read the original
HMRC has issued an updated notice detailing all extra statutory concessions currently available for VAT purposes. Extra statutory concessions are discretionary reliefs that HMRC applies beyond the strict requirements of VAT legislation to provide fairness in specific circumstances. This guidance is relevant to businesses and customs professionals seeking to understand the full scope of VAT exemptions and reliefs that may apply to their operations.
Source: HMRC (GOV.UK) – Read the original
HMRC has published official statistics covering tax revenue collected from the banking sector during 2026, including PAYE Income Tax, National Insurance contributions, Bank Levy, Bank Surcharge, Corporation Tax, and the newly introduced Bank Payroll Tax. The data provides a comprehensive breakdown of the various tax streams imposed on financial institutions during this period. These statistics are relevant for customs and trade compliance professionals monitoring the regulatory and fiscal environment affecting UK banking operations.
Source: HMRC (GOV.UK) – Read the original
Workers employed through agencies, temporary work arrangements, umbrella companies or payroll service providers should review their payslips and deduction statements to ensure tax and National Insurance contributions have been calculated and paid accurately. This guidance helps identify potential discrepancies in payments made to HMRC on behalf of workers in non-standard employment arrangements.
Source: HMRC (GOV.UK) – Read the original
Subcontractors operating as limited companies may be eligible to recover Construction Industry Scheme deductions that exceed their actual tax liabilities. The refund process allows businesses to reclaim overpaid amounts deducted under the CIS framework. This applies to subcontractors who have had more withheld from payments than required to cover their tax obligations.
Source: HMRC (GOV.UK) – Read the original
HMRC has published its accredited official statistics on Child Benefit, providing detailed geographical analysis at country, region, local authority, parliamentary constituency and small area levels. The annual release includes data enabling examination of Child Benefit distribution patterns across England, Scotland, Wales and Northern Ireland. This statistical release supports policy analysis and monitoring of child support provision across different areas of the UK.
Source: HMRC (GOV.UK) – Read the original
HMRC has published guidance based on a July 2026 GAAR Advisory Panel opinion to assist businesses and advisers in identifying potentially abusive tax arrangements involving disguised remuneration through dual payment structures. The guidance helps stakeholders recognise arrangements that may constitute general anti-abuse rule violations, specifically targeting schemes where payments are structured to obtain tax advantages through disguised salary or employment income arrangements. This panel opinion provides clarity on what HMRC considers abusive in this category of tax avoidance schemes.
Source: HMRC (GOV.UK) – Read the original
HMRC and the Office for National Statistics have published the latest monthly figures on payrolled employee numbers and wages collected from Pay As You Earn Real Time Information data. This accredited official statistics release provides current insights into the UK labour market based on live PAYE records submitted by employers.
Source: HMRC (GOV.UK) – Read the original
HMRC has published a factsheet detailing compliance requirements regarding the possession of electronic sales suppression tools. Electronic sales suppression involves the use of devices or software to manipulate or conceal sales records from tax authorities. The guidance outlines the regulatory framework and implications for businesses or individuals found in possession of such tools.
Source: HMRC (GOV.UK) – Read the original