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The Government has announced that it plans to increase the income tax self assessment (ITSA) reporting threshold for trading income from £1,000 to £3,000 gross within this Parliament. Other measures to help HMRC deliver Plan for Change are also announced.

10 March 2025 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

HMRC has published a new version of the IHT grossing up calculator.

The subgroup which is chaired by HMRC has published new minutes of meetings.

The First-tier Tribunal has revised its guidance on the preparation of pdf bundles that was first published in 2021.

The CIOT has published a Finance Bill 2024-25 briefing on the report stage amendments for non-domicile changes.

HMRC has published its latest Stakeholder Digest (February 2025). This edition includes updates on new campaigns, guidance, and consultations relevant to UK tax practitioners.

HMRC has launched a consultation on reforms to inheritance tax agricultural property relief and business property relief intended to apply from 6 April 2026, specifically focusing on their application in relation to trusts.

The UK government has put forward 66 amendments to Finance Bill 2025 to be considered at Report Stage on 3 March 2025.

The 2025 UK-Andorra Double Taxation Convention was signed in London on 20 February 2025.

HMRC has published Issue 128 of the Agent Update which includes updates and reminders on MTD for income tax, employers NIC changes and filing of returns without an overlap relief figure.

HMRC has updated the guidance on the online tool ‘Manage your trust’s details’ to show which details can and cannot be changed using the online service.

HMRC has published a GAAR Advisory Panel opinion dated 29 October 2024 concerning reducing the value of an estate for IHT and avoiding IHT on a lifetime transfer by acquiring shares in a company and gifting those shares to an employee trust.

HMRC is reducing the late-payment interest rate to 7.00% and the repayment rate to 3.50% from 25 February 2025 for most taxes and payments. Interest on quarterly instalment payments of corporation tax will also be reduced from 17 February.

HMRC has published details on the filing of in-year returns for trusts and estates for the 2024-25 tax year.

The UK is suspending the Russia and Belarus Double Tax Treaties from April 2025.

HMRC has published its latest Stakeholder Digest (January 2025).

The CIOT has published its response to the consultation on the proposed inclusion of unused pension funds and death benefits within a person's estate for inheritance tax purposes from 6 April 2027.

These Regulations are made to amend 116 pieces of UK secondary legislation and 130 pieces of assimilated direct EU legislation in relation to retained EU law reform. They amend or revoke various provisions of subordinate legislation and assimilated direct legislation in consequence of certain provisions of the Retained EU Law (Revocation and Reform) Act 2023 (REUL(RR)A 2023). They are made in exercise of legislative powers under the REUL(RR)A 2023 in connection with assimilated law. They came into force on 27 February 2025.

The Government has published a raft of amendments to be considered by the Public Bill Committee. Most of the changes affect the replacement of remittance basis/domicile Schedules.