Day: 28 October 2026

The government is modernising the stamp tax framework through introduction of a Securities Transfer Tax that will apply when securities change hands and will supersede the current Stamp Duty and Stamp Duty Reserve Tax regimes. This reform simplifies the existing dual-tax structure that has governed share transfers. Traders, brokers, investment firms and corporate entities involved in securities transactions will be affected by this consolidation of stamp tax legislation.

Source: HMRC (GOV.UK) – Read the original

HM Revenue and Customs has issued guidance clarifying the circumstances under which non-insurance companies can benefit from a partial Corporation Tax exemption when receiving payouts from investment life insurance contracts. The policy paper sets out the conditions that must be met for businesses to qualify for this tax relief. This clarification affects companies holding investment life insurance policies as part of their business arrangements.

Source: HMRC (GOV.UK) – Read the original

New policy measures aim to prevent UK residents from using non-UK resident protected cell companies to avoid capital gains tax on their asset holdings. The measures affect individuals, trustees and companies that currently hold assets through such structures. These changes close loopholes that allow taxpayers to defer or reduce their UK tax liabilities on investment gains.

Source: HMRC (GOV.UK) – Read the original

The UK government has introduced the Side-by-Side package alongside modifications to the existing Multinational Top-up Tax and Domestic Top-up Tax frameworks. These measures form part of the UK’s alignment with international tax policy developments. The changes affect how businesses calculate and report tax obligations under these regimes.

Source: HMRC (GOV.UK) – Read the original

The government has reformed how foreign permanent establishments are taxed under Corporation Tax by converting the optional exemption regime into a mandatory requirement. Previously, businesses could choose whether to apply the exemption to profits and losses from overseas permanent establishments, but this flexibility has now been removed. The change streamlines the tax treatment of foreign permanent establishments and affects all UK companies with overseas operations falling within this classification.

Source: HMRC (GOV.UK) – Read the original

HMRC has amended the Lifetime ISA withdrawal charge policy to allow first-time property buyers to access their savings without the standard penalty when purchasing a home above the standard property price threshold. The change applies to qualifying first-time buyers who would otherwise face charges when withdrawing funds for property purchases that exceed the set price cap. This policy adjustment aims to make homeownership more accessible for first-time buyers in higher-priced property markets while maintaining the Lifetime ISA scheme’s core objectives.

Source: HMRC (GOV.UK) – Read the original

HM Revenue and Customs has confirmed that businesses and public bodies will be required to submit VAT invoices electronically from April 2029. The new e-invoicing mandate will standardise invoice submission formats across the UK tax system. This policy paper outlines the regulatory framework and transitional arrangements for the mandatory shift from paper-based to digital invoice processing. The requirement will apply to all VAT-registered entities conducting both B2B and B2C transactions.

Source: HMRC (GOV.UK) – Read the original

The Victims and Prisoners Act 2024 (Commencement No. 12 and Transitional Provision) Regulations 2026 bring section 18 of the Victims and Prisoners Act 2024 into force. This represents the twelfth set of commencement regulations issued to implement provisions of the 2024 Act. The regulations establish when section 18 becomes effective and set out any transitional arrangements necessary for its implementation.

Source: legislation.gov.uk – Read the original