Consultation on measures to tackle non-compliance
HMRC published the consultation Enhancing HMRC's ability to tackle tax advisers facilitating non-compliance alongside the Spring Statement 2025. The consultation seeks views on several potential measures, including expanding information powers against tax advisers and introducing stronger penalties against tax advisers who contribute to the tax gap. We will look at the consultation in more detail in a future article.
HMRC is hosting a webinar on 10 April 2025 to introduce the consultation. HMRC will:
- explain why the government is running the consultation;
- give an overview of the proposals set out in the consultation; and
- discuss the next steps to implementation.
Read more about the Spring Statement.
Loan charge review: call for evidence
A call for evidence has been published to gather evidence as part of the independent loan charge review. Responses are welcomed by 30 May 2025 by individuals and organisations with an interest in the area.
Learn more about the loan charge review.
Understanding tax on pension income
HMRC has published guidance for taxpayers explaining “how tax works on pensions, savings and additional income” before and after retirement. HMRC says that the guidance “brings together some of the most common queries and concerns” and provides “reassurance” on how some of HMRC’s processes work.
More Making Tax Digital software
Absolute Excel Income Tax Filer has been added to HMRC’s list of software that works with Making Tax Digital (MTD) for income tax.
Read the latest on MTD income tax.
Pension scheme returns
HMRC has used the latest issue of its pension schemes newsletter to remind pension scheme administrators and practitioners that, where a notice to file a pension scheme return for 2024/2025 is received on or after 15 April 2025, they will need to submit the return on the managing pension schemes (MPS) service. HMRC’s guidance explains the deadlines for migrating onto the MPS.
International tax round-up
CFE Tax Advisers Europe has published its latest collection of tax top 5 developments. This includes an update on the European Union (EU) tax symposium held on 18 March 2025. Topics discussed included:
- wealth taxation;
- tax simplification;
- green transition;
- EU competitiveness; and
- the growing role of artificial intelligence in tax administration
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.