To go straight to the articles in the latest edition please scroll down and expand the section/s below that are of interest to you. For a preview of these articles, read the introduction to the latest edition from Sharon Baynham here:
This edition of Tax Matters Digest deserves a drum roll because, yes you guessed it, we have published our Budget predictions. It has been a hefty task that has left some of us putting our head in our hands saying “make it stop”. But now it is done and it is our spotlight article this week. It is longer than usual but that is what you get when so many measures have been suggested and debated on the front pages. Sadly it is likely to be overtaken by further headlines as we enter into the last two weeks before the Budget. Our second item is also Budget related. This time it is a 15 minute lively discussion with our head of tax policy, Tim Sarson, into what can be expected in the Budget.
The third article deals with changes announced at last year’s Budget in relation to agricultural and business property reliefs (APR and BPR). We don’t know yet whether there will be any announcements in this year’s Budget that may change the proposed reforms, but assuming there aren’t, this article poses the question of how you can think about managing inheritance tax liabilities that will arise after 6 April 2026.
It may be a while since any of us have thought much about the One Big Beautiful Bill Act (OBBBA) and so we decided that needed to change (!). Our next article provides a briefing on actions that individuals within the scope of US tax could take as the calendar year end approaches. Whether it be choosing itemised or standard deductions, the impact of the OBBBA on philanthropic donations, and how the changes to state and local taxes could impact, this article provides a handy briefing on what US tax filers should be considering.
An edition of Tax Matters Digest seems incomplete without a transfer pricing article and we did not want to disappoint, so we have included an article which considers advice recently issued by HMRC to their compliance teams on settling transfer pricing enquiries. In particular, it highlights a policy change in situations where HMRC think a taxpayer’s filed position is outside of the arm’s length range. The article discusses HMRC’s default position and the implications when a taxpayer proposes an alternative position.
Continuing the transfer pricing theme, our next article discusses the OECD’s recent ‘Tax Certainty Day’ which coincided with the publication of annual statistics for the 2024 reporting period on Mutual Agreement Procedure (MAP) cases and use of Advance Pricing Agreements (APAs).
The final article provides a link to Tim Sarson’s latest international tax review as recently published in Tax Journal. This month it has a distinctly European flavour with updates from Norway, France and Ireland as well as updates from the European Parliament.
Our Other News In Brief this week includes an update to HMRC’s International Exchange of Information Manual for CRS 2.0 and the Crypto-Asset Reporting Framework, the Welsh draft Budget and the latest Middle East Economic Outlook from KPMG’s UK economics team. We then have our usual Indirect Tax Weekly Talking Points and our Week in Tax summaries covering key tax developments from around the world.
Tax matters for business
Articles of interest to businesses
Budget 2025 predictions
KPMG’s UK Tax Policy team share their thoughts on what we might see in the 2025 Autumn Budget on 26 November
If you prefer to listen then this 15 minute podcast with Tim Sarson, KPMG UK’s Head of Tax Policy, is for you
Meet in the middle: HMRC’s transfer pricing settlement policy
When settling transfer pricing enquiries HMRC will expect any adjustments to be to a central point in the arm’s length range
The OECD’s Tax Certainty Day reassures
The OECD recently published the MAP and APA statistics for 2024 showing encouraging trends
International tax review for October 2025
Tim Sarson’s latest update has a European flavour covering Budgets in Norway, France and Ireland and developments at the European Parliament
Indirect Tax Weekly Talking Points – 5 November 2025
This week’s edition looks at a Supreme Court judgment on hospital car parking, a case on import VAT recovery and other UK court updates
Indirect Tax Weekly Talking Points – 12 November 2025
This week’s edition discusses the Uber London Ltd FTT decision in connection with a dispute over whether Uber’s services fall under TOMS
Tax matters for employers
Articles of interest to employers
KPMG’s UK Tax Policy team share their thoughts on what we might see in the 2025 Autumn Budget on 26 November
If you prefer to listen then this 15 minute podcast with Tim Sarson, KPMG UK’s Head of Tax Policy, is for you
Tax matters for Individuals
Articles of interest to individuals
KPMG’s UK Tax Policy team share their thoughts on what we might see in the 2025 Autumn Budget on 26 November
If you prefer to listen then this 15 minute podcast with Tim Sarson, KPMG UK’s Head of Tax Policy, is for you
IHT on Business and Agricultural Assets: Liabilities from April 2026
Individuals and trustees need a plan for paying IHT charges on certain business and agricultural assets from 6 April 2026
US tax year end actions - deductions and the OBBBA
As the end of the calendar year approaches, what impact has the signing of the One Big Beautiful Bill Act had on year-end US tax actions?
Other news in brief
- HMRC’s International Exchange of Information Manual updated for CRS 2.0 and Crypto-Asset Reporting Framework
- Welsh Draft Budget - Stage two
- KPMG UK’s October 2025 Middle East Economic Outlook published
International round up - Week in Tax
Our tax insights
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