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HMRC has new powers to demand information in tax avoidance cases. In September 2026, it published guidance on the new anti-avoidance information notices (AAINs). They come from Part 6 of the Finance Act 2026. Until now, the focus was mostly on the promoters of schemes. But the new notices also reach the people and businesses around them. What has changed HMRC can send a notice to anyone it reasonably suspects is connected with promoting or facilitating tax avoidance. It does not need to prove that tax was lost. It also does not need to show that the scheme fails, or that the recipient committed an offence. The test is simpler. The information must be reasonably required to monitor compliance with specified anti-avoidance rules, or to consider action under them. The notices work alongside the existing powers in Schedule 36 of the Finance Act 2008. Who can receive a notice The term "connected person" is deliberately broad. It can cover directors, employees, partners, trustees and advisers. It can also cover anyone who made a scheme available, organised it, managed it or benefited from it. In addition, HMRC can approach third parties that hold information about such...

On 1 January 2027, the UK launches a new regime for consumer subscriptions. It comes from the Digital Markets, Competition and Consumers Act 2024 (DMCCA). The government has published draft regulations and guidance, so the details are now visible. The changes go well beyond updating terms and conditions. Businesses will also need to adjust sign-up pages, apps, billing, reminders, cancellation and record-keeping. Foreign companies that sell subscriptions to UK consumers should check the rules too. Which subscriptions are covered The rules apply when a consumer pays regularly for goods, services or digital content. The contract must renew or continue unless the consumer ends it. Free or discounted trials that turn into paid plans are covered as well. For example: streaming, software and digital content; gyms and other memberships; "subscribe and save" offers; regular deliveries of goods; free trials that convert into paid plans. The rules apply even when a subscription is only a side product. However, some contracts are excluded. These include utilities, financial services, telecoms, accommodation, healthcare, travel and childcare. Certain charity...

On 16 September 2026, the UK saw its first convictions for breaking the Companies House ID verification rules. The Insolvency Service and Companies House announced them the next day. Until now, the rule mostly existed on paper. But enforcement has begun. What the rule requires A new director must verify their identity before acting in the role. This has applied to new appointments since 18 November 2025. Directors already in office got a 12-month transition period. However, the deadline is tied to the company's next confirmation statement, so each director may have a different date. Verification is free online through Companies House. Also, an authorised corporate service provider can do it. Three directors, two companies Jill White, White (Reading Properties) Limited. She kept acting as a director without verification. She took part in board decisions and signed the accounts. But she verified only in early September 2026, about nine months late. Her fine was £166, plus £85 costs and a £66 victim surcharge. In addition, she was convicted with another director for filing the confirmation statement late. Marc Dillon, the same company. He had verified his own...

Swiss companies now have fixed deadlines for reporting their beneficial owners. The Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners (LETA) has applied since 1 October 2026. Existing companies, however, get a transition period. Its length depends on the company type and on whether it is subject to an ordinary audit. The first deadline falls on 4 January 2027. Who is covered The Act applies to Swiss entities and to foreign entities with a connection to Switzerland. Within them, three kinds of people have duties: highest-ranking member of the governing body; holder of company interests carrying control rights; beneficial owner. As a result, if you are none of these, LETA does not apply to you. Who is exempt Three types of legal entity fall outside the scope: listed companies, and subsidiaries owned more than 75% directly or indirectly by a listed company; occupational pension institutions and comparable supervised pension institutions; entities owned at least 75% directly or indirectly by the public sector. What each role must do Highest-ranking member of the governing body. Identify the beneficial owners, document...

Malta remains the first choice for many advisers who set up B2B gaming operations in Europe. It has held that position for over two decades. In 2004, Malta became the first EU member state to adopt a full framework for remote gaming. Even so, the rules have become much tougher since then. So what keeps the island ahead in 2026? Two licence types under the Gaming Act The Malta Gaming Authority (MGA) regulates all gaming in or from Malta. It works under the Gaming Act (Chapter 583), in force since August 2018. The Act replaced the 2004 Remote Gaming Regulations. It built the system around two main licences: the B2C Gaming Service Licence for operators who serve consumers directly; the B2B Critical Gaming Supply Licence for suppliers of software, platforms, content and related services to licensed operators. A B2B licence carries EU passporting rights. A holder can supply operators across the EU and EEA through notification procedures. No separate national licence is needed in each market. Brexit raised the value of this right. UK-licensed B2B suppliers lost their passport and must now seek authorisation in each EU state. As a result, many EU-focused suppliers turned to...

Cyprus raised its corporate income tax rate from 12.5% to 15% at the start of 2026. The change aligns the island with the OECD global minimum. It is part of the most significant reform of the Cypriot tax system this century. However, the rate increase is only one element of a much wider package. The 15% headline rate is still among the most competitive in the EU. Moreover, the government kept three key regimes for international holding, financing and IP companies. These are the IP Box, the Notional Interest Deduction (NID) and the holding company framework. As a result, investors can still plan for the long term in Cyprus. The IP Box Under the IP Box, 80% of qualifying profit from qualifying intellectual property is exempt. Patented inventions and copyrighted software are examples. Therefore, only the remaining 20% is taxed, which gives an effective rate of about 3%. The regime follows the OECD modified nexus approach. This means the benefit is proportionate to the qualifying development spending that the Cyprus company actually incurs. In addition, the 120% deduction for qualifying R&D expenditure now runs until 2030. The Notional Interest Deduction The NID is a key...

Malta is changing its VAT rules for gambling from 1 October 2026. Legal Notice 86 of 2026 amends the VAT Act. Meanwhile, the Malta Tax and Customs Administration (MTCA) has published guidelines listing the exempt supplies. The MTCA and the Malta Gaming Authority (MGA) announced the reform on 2 April 2026. The reform has three aims. It clarifies the scope of the exemption. In addition, it taxes services where they are consumed. Finally, it keeps VAT neutral for operators. So operators should check which category each of their services falls into. The position up to 30 September 2026 Until now, betting, lotteries and other gambling were exempt without credit. This follows from item 9 of Part Two of the Fifth Schedule to the VAT Act. No VAT was charged on these supplies. Input VAT attributable to them could not be deducted either. What changes from 1 October 2026 Legal Notice 86 amends that item. Now the exemption applies only to gambling approved by the Minister. The MTCA guidelines list the approved categories. If a supply is not on the list, it is not exempt. Under the guidelines, the following stay exempt: low-risk games, as defined in the Fifth Schedule to the Gaming...

On 4 September 2026, the Cyprus Registrar of Companies announced an extension. Cyprus companies can now file overdue annual returns and financial statements until 31 December 2026. The extension follows an earlier reminder exercise. As a result, companies with a backlog have a chance to put their records in order without rushing. What the extension covers The notice applies only to overdue annual returns and the related financial statements. However, strike-off under section 327 of the Companies Law will continue. It will affect companies that remain non-compliant after the deadline. That said, companies will not disappear from the register automatically on 1 January. Strike-off is a legal process with separate steps. In addition, the extension does not remove other obligations. It does not postpone tax or beneficial ownership duties. Penalties also stay in place unless the notice expressly says otherwise. Where to start First, confirm which filings are actually outstanding. The company's age or the last invoice from its service provider is not a reliable guide. Then work backwards from the filing date. If the records are complete, a return can be ready quickly. If several...

On 1 October 2026, the Swiss Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners (LETA) entered into force. Switzerland is introducing a central register of beneficial owners for the first time. What changes Until now, companies were only expected to keep an internal register of their beneficial owners. They are now required to: identify their beneficial owners; document how those owners exercise control; report certain information about them to a new federal register run by the Federal Office of Justice. Who is affected The rules are not limited to Swiss entities. Certain foreign companies with a sufficient connection to Switzerland are also covered, whether through a branch, real estate holdings or effective management in Switzerland. What companies should do LETA tightens requirements on governance, documentation and compliance, and responsibility sits with the companies and their governing bodies. Companies should work out which of the new obligations apply to them and make sure their internal processes are robust enough to meet the requirements within the applicable timeframes. Source: Borel &...