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Tax News: May 2026

Tax News: May 2026

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For this month’s edition, Gabrielle Pereira and Alex Dustan join Zoe Andrew to discuss:

  • Supreme Court's Gunfleet Sands decision: A restrictive ruling on capital allowances for predevelopment costs
  • Electricity Generator Levy: Increase from 45% to 55% from July 2026, with voluntary fixed-price contracts
  • Court of Appeal in Burlington : Important clarification of treaty purpose tests, with global implications for the principal purpose test
  • Court of Appeal in MR Currell : The purpose of a payment does not determine its legal character
  • VAT classification of Mega Marshmallows (Innovative Bites ): They're zero-rated food, not confectionery
  • Inbound redomiciliation consultation: Proposals to allow foreign companies to move their place of incorporation to the UK
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