Tax News: February 2025

In this podcast, Tax Associate Nadia Hourihan joins Zoe Andrews and Tanja Velling to discuss the Court of Appeal’s decision in ScottishPower that payments in lieu of penalties are tax deductible (even though no tax deduction would have been available for the penalties themselves).  

Zoe and Tanja further discuss the First-tier Tribunal’s decision in NHS Mid & South Essex that withholding tax applied to an interest element included in certain redress payments.

The podcast also covers the potential impact of President Trump’s inauguration day announcement on international tax reform, before diving into recent UK developments in relation to the multinational top-up tax and the domestic top-up tax (new draft HMRC guidance and government amendments to the Finance Bill) and OECD publications on Pillar Two, including new Administrative Guidance.