PCRT sets out the principles and standards of behaviour that all members and students of the author bodies must adhere to when undertaking tax work. It also demonstrates the bodies’ commitment to high ethical standards in the tax profession.

Senga Prior, ATT Technical Officer, said:

The Chancellor confirmed at the Budget that e-invoicing will be required from April 2029 for business to business (B2B) and business to government (B2G) transactions where VAT is due.

At this week’s Budget,1 the Chancellor announced that national insurance contributions will be payable by both employee and employer on salary sacrifice contributions over £2,000 from April 2029.

The Chancellor confirmed yesterday1 that the allowance for 100% Agricultural Property Relief (APR) and Business Property Relief (BPR) for inheritance tax will be able to transfer between spouses and civil partners when it is introduced in April next year.

The Government announced at yesterday’s Budget1 that, following consultation, it would not regulate tax advisers and will instead work in partnership with the sector to raise standards in the tax advice market.

Announcements made by Rachel Reeves included:

It was confirmed in today’s Budget1 that the government will not apply late submission penalties for quarterly updates during the 2026-27 tax year for Income Tax Self Assessment (ITSA) taxpayers required to join MTD.

Employees can be reimbursed for business travel tax-free – provided that their employer does not pay more than HMRC approved rates.

The current exemption allows up to £150 in total per head (including VAT) to be spent each tax year on annual staff functions without incurring a tax liability.