Author: Europe News Desk

As the new tax year begins, it is crucial for taxpayers to understand the key tax rates and thresholds that apply to them. Whether you’re an employee in England, Northern Ireland, Scotland, or Wales, or you’re navigating the complexities of National Insurance Contributions (NICs), it’s essential to stay informed to make the most of your earnings. In this article, we’ll explore the PAYE tax rates, thresholds, and NIC contributions for the 2025-2026 tax year, as well as important allowances and pension contributions. PAYE Tax Rates for 2025-2026 For the tax year 2025-2026, the UK operates a progressive tax system, with…

LONDON – The UK Department for Education (DfE) has published updated guides for various student financial support schemes for the 2025 to 2026 academic year, including the 16 to 19 Bursary Fund, Residential Bursary Fund, and Care to Learn. The guides provide essential information on funding rules and processes for each scheme, with key updates to the claims procedures for students in vulnerable groups and those needing support from Care to Learn. Institutions must ensure they understand the changes to avoid delays and complications in funding claims. Important Changes for 2025 to 2026 The 16 to 19 Bursary Fund guide…

Moscow – On March 28, 2025, employees of the Russian Federal Tax Service (IFS) conducted a seminar for the staff of the Moscow General Planning Institute, focusing on the key updates to the Russian Tax Code brought about by Federal Law No. 259-FZ, passed on August 8, 2024. The law introduces an important exemption for property tax for individuals who have participated in the Special Military Operation (SMO), as well as their family members. Tax officials explained that the entire calendar year during which a person participated in the SMO will count as the “period of participation,” regardless of the…

MADRID – The 2024 Spanish Income Tax (IRPF) campaign has officially begun today, running until September 30, 2025. Taxpayers can now consult, accept, or modify the settlement proposals issued by the Department of Taxes and Borders via the Government’s Electronic Headquarters. With an estimated 25,500 people expected to file their taxes, over 85% of them are expected to use the online portal. Context & Background The 2024 IRPF campaign marks its tenth year, now a key event in Spain’s tax calendar. This year, the Department of Taxes and Borders has issued a total of 53,772 settlement proposals. Of these, 32,662…

AMSTERDAM – On March 31, 2025, the Customs Contact Center (DCC) took over the telephone services from seven Business Contact Points (BCPs). This change marked an essential step in centralizing Customs’ customer service, aiming to create a more efficient and recognizable contact point for businesses and citizens with Customs-related questions. Context & Background On March 31, 2025, the telephone services from the seven regional Business Contact Points (BCPs) were transferred to the Customs Contact Center (DCC). This change was part of a broader effort to modernize Customs operations and centralize customer contact. The DCC became the central point of contact…

Real Madrid manager Carlo Ancelotti is set to stand trial on Wednesday over allegations of defrauding Spain’s tax office of more than €1 million in undeclared image rights earnings from 2014 and 2015. Spanish prosecutors claim that Ancelotti, despite being a tax resident in Spain, failed to declare income generated from his image rights, instead using offshore entities to obscure the true beneficiary of the funds. Authorities are seeking a four-year and nine-month prison sentence for the Italian coach, alleging he failed to pay €1,062,079 in taxes on image rights revenue totaling €1.24 million in 2014 and €2.96 million in…

A legal battle between HM Revenue & Customs (HMRC) and Innovative Bites, a London-based American sweets importer, may cost the company £472,928 in VAT—all hinging on whether giant marshmallows are typically eaten with fingers or on a skewer. HMRC argues that these “mega marshmallows” qualify as confectionery, which is subject to the standard 20% VAT. However, Innovative Bites contends that the product is sold primarily for roasting—an activity requiring a skewer—meaning it should be zero-rated as an unprocessed food. Legal Timeline: Lord Justice Males acknowledged the difficulty in proving how people consume marshmallows, putting the burden on Innovative Bites to…

The UK’s housing crisis is forcing local councils to raise council tax as they struggle to cover the soaring costs of temporary accommodation. Families like Patricia Brown, who has been living in a hotel for eight months, are at the center of this crisis, which has left local governments with record-high spending on emergency housing. Why Is Council Tax Increasing? More Families in Temporary Housing – Councils have spent millions housing people in hotels and B&Bs, often in poor conditions.Ballooning Costs – London Councils overspent by £330 million on temporary housing in 2024.Council Tax Hikes – Newham raised tax by…

A recent ruling by the Spanish National Court in Nex Tyres SL v. Administración establishes key principles for multinational enterprises (MNEs) facing transfer pricing audits. The decision reinforces the importance of selecting appropriate pricing methods, justifying profit adjustments, and ensuring compliance with OECD guidelines. The court upheld the tax authority’s choice of the Transactional Net Margin Method (TNMM) over the Comparable Uncontrolled Price (CUP) method, citing insufficient evidence supporting the latter’s validity. However, it annulled the tax authority’s median-based profit adjustment, ruling that the median of an interquartile range cannot be applied mechanically without demonstrating comparability defects. This ruling follows…

Economic Fallout Looms as Washington Prepares “Liberation Day” Tariff Hike The UK is preparing for imminent US tariffs as President Donald Trump is set to unveil sweeping global trade measures this week, Downing Street confirmed. Talks to prevent Britain from being caught in the crossfire are ongoing, but officials acknowledge that tariffs are likely unavoidable. UK on High Alert as US Tariffs Approach Prime Minister Keir Starmer’s spokesperson stated that the British government has been actively preparing for all possible outcomes ahead of Trump’s announcement. Negotiations between London and Washington will continue beyond Wednesday, April 2, the day Trump has…