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Table of contents

• Budgets and Finance Bills
• Draft Welsh Budget 2025–26 published
• Welsh land transaction tax regulations made
• CIOT and LITRG publish response to call for evidence on Scottish Budget
• Anti-avoidance
• FTT decides sale of LLP capital accounts not subject to income tax (Hoyle v HMRC)
• Taxes management and litigation
• UT follows previous decision on VAT treatment of government-funded education programmes (HMRC v Colchester Institute Corporation)
• Court of Appeal considers when a ‘GLO issue’ will bind all parties on the group register (Axa Sun Life plc v HMRC)
• HMRC publishes updated guidance on VAT late payment penalties

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Article summary

This week's edition of Tax weekly highlights includes: (1) key announcements from the draft Welsh Budget 2025–26, (2) analysis of the Court of Appeal’s decision in Axa Sun Life plc v HMRC, and (3) the UT’s decision in HMRC v Colchester Institute Corporation.