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New Legislation United Kingdom HMRC

Mayer Brown

Eye on Economic Crime: HMRC Brings Forward First Corporate Prosecution Under Failure to Prevent Tax Evasion Offence

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On 11 August 2025, HM Revenue & Customs ("HMRC") initiated its first corporate prosecution under the failure to prevent the facilitation of tax evasion offence, which was introduced by the Criminal Finances Act 2017.  Bennett...more

White & Case LLP

The Paper Tiger Finally Roars: HMRC Takes Action on the Facilitation of Tax Evasion

White & Case LLP on

New failure to prevent facilitation of tax evasion offences were introduced into UK law in September 2017 and cover both domestic and overseas tax evasion. The offences were brought into law to make it easier for UK...more

Mayer Brown

The Pensions Brief: August 2025

Mayer Brown on

ISSUES AFFECTING ALL SCHEMES - COMPANY DIRECTORS – IDENTITY VERIFICATION REQUIREMENTS - Companies House has announced that the identity verification requirements under the Economic Crime and Corporate Transparency Act...more

K&L Gates LLP

Europe: Fundamental Reform of UK Taxation of Carried Interest

K&L Gates LLP on

From 6 April 2026, carry will be redefined and taxed in the United Kingdom as deemed UK trade or business income where investment management services (as redefined) are performed in the UK. The relevant draft legislation was...more

A&O Shearman

UK Pensions: What's new this week? August 4, 2025

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TPR blog post on managing systemic risks - The latest blog post from the Pensions Regulator (TPR) highlights the importance of managing systemic risks, including climate change, nature loss and broader ESG factors, as "a...more

Hogan Lovells

UK Pensions: HMRC announcement creates opportunity to increase VAT recovery on pension investment costs

Hogan Lovells on

HMRC have announced a change to VAT policy to allow employers of defined benefit pension scheme to recover up to 100% of VAT on pension scheme investment costs. Employers and pension scheme trustees may need to consider...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Consults on Draft Legislation on Transfer Pricing, Permanent Establishments and Diverted Profits Tax

On 28 April 2025, HM Revenue and Customs (HMRC) proposed significant reforms to the UK’s transfer pricing and permanent establishment (PE) rules, and a repeal of the diverted profits tax, bringing that regime within UK...more

Mayer Brown

What Are the Top 10 Things You Need to Know About UK CBAM?

Mayer Brown on

The UK government is currently consulting on draft primary legislation establishing a UK Carbon Border Adjustment Mechanism (“CBAM”), which is set to come into force from 1 January 2027 ....more

A&O Shearman

Pensions: what's new this week - March 31, 2025

A&O Shearman on

Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. Finance Act 2025 receives royal assent - The Finance Act 2025...more

McDermott Will & Schulte

UK Government Provides COVID-19-Related Tax and Financial Support for Businesses

On March 17, the UK Chancellor of the Exchequer, Rishi Sunak, announced an unprecedented £330 billion package, equivalent to 15% of UK gross domestic product, of government-backed and guaranteed loans to support businesses,...more

Proskauer Rose LLP

Tax Round Up - April 2017

Proskauer Rose LLP on

Welcome to the Tax Round Up, the first edition of what will be a regular bulletin highlighting the latest tax developments relevant to UK companies and asset managers. We plan to produce this monthly with the next one in...more

Katten Muchin Rosenman LLP

Summer Budget 2015––Carried Interest: Abolition of Base Cost Shift

On July 8, the Right Honourable George Osborne MP, Chancellor of the Exchequer, introduced measures in his Summer Budget to abolish what is commonly known as the “base cost shift” as applied to sums received by individuals...more

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