Source Currency: Volume 196, Issue 5014. Citation: Taxation, 18 December 2025, 5 (4). This week Accuracy of automatic penalties questionable News update In brief Finalists revealed in competition to close the tax gap MPs to scrutinise the Office for Budget Responsibility Post Skandia VAT grouping rules revised Budget changes will discourage investment in VCTs Taxpayers spent 558 years on HMRC phone lines in 2024-25 Tax cases Correction of output tax overpayment too late Goodwill was not newly created Closure notice does not apply loan charge No advance in science or technology Full decision required before further appeal possible Articles Tricky conditions Happy motoring? Slight sweetener A year of rumours Time to give – tax efficiently Tax tip Pressure cooker of taxes Q&A Movers & shakers Readers’ Forum Negligible value claim Pre-trading or present expenditure VAT Travel compensation New queries.