An insight from the gbac team on all things accounting, finance and more.
Choosing to represent yourself at a First Tier Tribunal (FTT) would probably be considered foolhardy enough. Yet, in a recent case, a taxpayer also chose to base their appeal against HMRC on artificial intelligence (AI), without human verification.
With Inheritance Tax (IHT) nil rate bands unchanged for 16 years and currently frozen until 2030, more people are making lifetime gifts to reduce their estate’s IHT bill when they die.
From April 2026, it will become mandatory for sole traders and landlords to file tax returns through Making Tax Digital (MTD) if they earn more than £50,000 a year.
In June 2025, HMRC will be sending out simple assessment letters to taxpayers who aren’t obligated to file full self-assessment tax returns – which might come as a surprise to some.
Previously, HMRC told UK taxpayers that the agency would use personal interest information from banks and building societies to calculate taxable personal interest for the 2023–2024 tax year, then adjust individual tax codes or issue Simple Assessments.
Company directors, people with significant control (PSCs), and anyone who files at Companies House will be expected to verify their identities from autumn 2025.
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