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Highlights from the broader tax news for the week ending 26 May 2026, including the introduction of an income tax exemption for kinship allowances.

The King’s Speech featured proposed legislation on late payments and regulatory reform in an agenda that prioritised national security above all else.

Making tax digital (MTD) for income tax is being phased in from April 2026. ICAEW's Tax Faculty outlines the requirements and how the system works.

SMEs are currently under enormous pressure from multiple sources, but savvy businesses can ease the pain.

For SMEs falling outside the scope of audit exemption – either because their annual turnover, assets or number of employers are above the threshold – the process of undergoing an audit can be daunting. Find out how to effectively prepare to ensure it goes as efficiently as possible.

A new regime allowing HMRC to impose significant penalties on tax advisers who engage in sanctionable conduct is now in force. ICAEW explains the emerging views of what is sanctionable conduct.