Earlier this week the Institute’s tax team and a representative from the NI Tax Committee met with HMRC to feedback our initial reaction to the 2025 Autumn Budget. The Institute highlighted a range of concerns, including our disappointment that the transferability of the £1 million allowance for agricultural property relief and business property relief, whilst welcome, was the minimum that could have been done to protect the succession plans of genuine farming activity, family-owned businesses, and older farmers. Members are welcome to feedback their concerns and queries on the Budget’s tax announcements at any time by email to tax@charteredaccountants.ie.
Leontia Doran, UK Tax Manager, outlined to HMRC that the early announcement of the soft landing for Making Tax Digital (MTD) for income tax quarterly filings in 2026/27, as one of our ongoing recommendations, was a welcome announcement given the scale of the change that MTD for income tax represents.
The Institute also highlighted that the confirmation on Budget Day by the Government that it will not regulate tax advisers, another Institute lobbying win, provided certainty to the regulated tax agent community, and particularly our members, that they would not be facing dual regulation in future.
Other matters raised included the roadmap for e-invoicing and how HMRC plans to engage on this ahead of its publication at the next Autumn Budget given our concerns about this for smaller businesses, earlier Self-Assessment payments and the forthcoming consultation on close companies reporting certain transactions to HMRC.
The Institute will continue to engage with HMRC on the Budget’s outcomes and will be discussing its impact on Northern Ireland with local Government in the coming weeks and months.
For all things UK Budget related, visit our UK Autumn Budget 2025 page for useful links, news stories, guidance and analysis.
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