Global Scans · Tax · Weekly Summary

• [New] The Finance Bill 2025-26 will introduce a power allowing regulations that enable the testing of the new digital service for the securities transfer charge, which will replace stamp duty and stamp duty reserve tax. UKAuthority
• [New] Internationally mobile individuals face further changes, including the welcome introduction of a £5 million cap on inheritance tax trust charges for historic trusts created by non-doms, presumably in the hope of stemming the flow of wealthy long-term resident foreigners leaving the UK. Mishcon de Reya LLP
• [New] Fuel Duty accounts for around 4% of all government tax receipts and will slowly decline to zero as the UK transitions to an electric and hydrogen vehicle fleet. Highways News
• [New] By 2028-29 the tax measures in the Budget will reduce the incomes of the top 10% of earners in the UK population by around £2,000. BBC News
• [New] The change, part of a bid to tackle childhood obesity, could mean an extra tax on popular products like Yazoo, Muller's Frijj and Starbucks Caffe Latte as well as drinks branded high protein like Ufit and Shaken Udder. BBC News
• [New] Pre-packaged milkshakes and coffees with high sugar content will face an extra tax from 2028. BBC News
• [New] A new mileage-based tax for electric and plug-in hybrid vehicles will be introduced from 2028, a move that could influence motor insurance uptake and the transition to electric vehicles. Insurance Business
• [New] One of the most consequential measures for insurance professionals is the extension of the freeze on National Insurance and income tax thresholds for an additional three years beyond 2028. Insurance Business
• [New] Enhancing tax transparency on real estate - The UK intends to participate in a new international agreement which will tackle tax evasion by providing for the automatic exchange of readily available information on real estate from 2029 or 2030. GOV.UK
• [New] Funded by raising online gambling taxes and tackling welfare fraud, it will result in the biggest reduction in child poverty at any Budget this century. GOV.UK
• [New] The UK tax on fizzy drinks will be extended to milk-based products in 2028, taking in pre-packaged milkshakes and coffees that are high in sugar. BBC News
• [New] U.S. Companies Prepare Global Tax Reporting for 2026: U.S. companies will soon begin reporting their global minimum tax liabilities for 2026 under the Organisation for Economic Co-operation and Development's (OECD) Pillar Two framework. JD Supra
• [New] With the IRS intensifying audits of individuals earning $10 million, projected to reach 16.5% audit coverage by 2026, up from 11% in 2019, tax law remains critical for compliance and strategic planning. Hazen Technologies Inc
• [New] OECD negotiators are closing in on an agreement that will rework the minimum tax framework, exempting the U.S. from the Undertaxed Profits Rule and Income Inclusion Rule. Cherry Bekaert
• [New] The federal government will end the 30% tax credit for solar rooftop installation in homes in December 2025. Al Jazeera
• [New] The IRS is rolling out new reporting requirements that will make hiding digital asset gains nearly impossible, fundamentally changing how millions of Americans handle crypto taxes. The Tech Buzz
• [New] New legislation could make the US a pioneer in federal digital asset integration as lawmakers move to normalize Bitcoin tax payments. Crypto Briefing
• [New] The UK's system will connect tax, welfare and employment databases. The Conversation
• [New] Corporation income tax is set for a strong boost of EUR 3 billion from 2026 onwards, as Ireland's Domestic Top-up Tax applying a minimum effective tax rate of 15% for large corporate groups is foreseen to start generating receipts. Economy and Finance
• [New] The IMF will provide extensive technical assistance to strengthen public financial management, finalise new tax legislation, and develop a strategy for legacy debt, stressing the need for a simple and competitive tax regime and strong governance as state-owned enterprises are restructured. MUFG Research
• [New] The possibility of reform means that timing and coordination between UK and US tax systems will become even more critical. Blick Rothenberg
• [New] The effect of the super-deduction will reduce Canada's marginal effective tax rate by over 2 percentage points, from 15.6% to 13.2%, enhancing Canada's competitiveness with the US following its own tax reforms implemented in the One Big Beautiful Bill Act. Cassels

Last updated: 01 December 2025