IRS Proposed Rule: Electronic Furnishing of Digital Asset Sales Statements
The Internal Revenue Service has issued a proposed rule regarding the electronic furnishing of payee statements for digital asset sales by brokers. This proposal outlines new requirements for brokers to provide tax statements electronically to customers regarding their digital asset transactions.
Minor Changes to Employer Provided Benefits Policy
HM Revenue & Customs has published minor changes to employer-provided benefits policy and administration. This notice confirms updates related to measure numbers B25-11-062 and B25-11-063.
Technical Amendments to Residence-Based Tax Regime
HM Revenue & Customs has published technical amendments to the residence-based tax regime introduced in the Finance Act 2025. These amendments aim to ensure the regime operates as originally intended without altering the underlying policy. The changes affect Income Tax, Capital Gains Tax, and Inheritance Tax.
New £2.5 million allowance for property tax relief
New £2.5 million allowance for property tax relief
Advance Corporation Tax Reform
HM Revenue & Customs is reforming the Advance Corporation Tax (ACT) regime, repealing shadow ACT rules. This change allows unrelieved surplus ACT balances to be offset against Corporation Tax liabilities without restrictions, effective from April 1, 2026.
Fuel Duty Cut Extended to August 2026
HM Revenue & Customs has extended the temporary cut in fuel duty rates until the end of August 2026. Fuel duty rates will gradually return to March 2022 levels through phased increases starting September 1, 2026.