The government is taking action to prevent UK-resident companies with foreign permanent establishments (PE) from offsetting losses made by the PE against profits subject to UK corporation tax (CT).

Major consultancies and finance firms cite 'perpetual Know Your Customer (pKYC)' as the future of customer authentication, but ICAEW’s Head of AML, Michelle Giddings, says it may not translate to accountancy.

The rate of VAT on children’s meals and certain activities and attractions will be reduced from 20% to 5% between the 25th of June and the 1st of September 2026. Although this may be welcomed by families, it could pose significant implementation challenges for businesses.

New targeted advance assurance service for R&D launched by ICAEW

The headline authorised mileage rate for approved mileage allowance payments (AMAPs) has increased to 55p per business mile from the 6th of April 2026. This is part of a government package of measures intended to address rising fuel prices.

HMRC does not accept Bills of Exchange as payment of tax liabilities. Taxpayers who enter into arrangements that attempt to use Bills of Exchange in this way could face additional interest and penalties.

The impact of technology on the workforce and continued consolidation are the key factors shaping the future of mid-tier accountancy firms in the UK, confirms ICAEW research.

Stakeholders have until 3 June 2026 to provide feedback to help inform the next stage of HMRC’s work on the development of the UK’s single trade window.

Businesses that receive a letter from HMRC telling them they need to register for VAT should check their position carefully and register without delay if necessary.

From the 1st of June 2026, large businesses undertaking major investment projects can contact HMRC to express an interest in using the new advance tax certainty service ahead of its launch on the 1st of July 2026.