In the know TAX #6: the tax changes making the headlines

This issue explores a range of developments shaping the tax landscape for individuals and businesses  alike.

HMRC continues to increase its scrutiny in several key areas, from close companies and Business Asset Disposal Relief claims to R&D tax relief. Wider legislative and accounting changes are creating new considerations for business owners and finance teams.

We also look at the practical implications of the temporary summer VAT reduction, the growing importance of Inheritance Tax planning ahead of the 2027 reforms, and how changes to FRS 102 could have unexpected tax consequences. We hope you find this edition informative.

In this edition, we cover:

• HMRC targets close companies
• Late payment crackdown confirmed
• Research and Development: errors to avoid
• Business Asset Disposal Relief claims under scrutiny
• Inheritance Tax: navigating the exemptions
• HMRC ups game with state-of-the-art AI
• Family fun with temporary summer VAT rate
• Tax fall-out from change to financial reporting standards

If any of the topics covered raise questions for you or your business, please don’t hesitate to get in touch

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