Trustees of the Saint George Educational Trust have been removed and replaced with interim managers, after the Charity Commission for England and Wales (the Charity Commission) found the chairman had allowed the charity’s bank account to receive donations from unknown sources, which were then transferred to entities unknown to the trustees. The misconduct was discovered...
As we approach 2025, it’s the perfect time to consider how you can optimize your tax planning strategies. Succession planning and Employee Ownership Trusts (EOTs) are two key areas that can help you ensure the long-term success and tax efficiency of your business. Whether you’re looking to pass on your business to the next generation...
Selling a probate home comes with its challenges, but the Stamp Duty Land Tax (SDLT) deadline adds an extra layer of urgency. Buyers eager to save on stamp duty may walk away if delays arise. Understanding these challenges can help sellers avoid losing potential buyers. What is a Probate Home? A probate home is a...
The UK government’s decision to abolish the non-domicile (non-Dom) tax regime marks a significant shift for international individuals living there. This change brings both challenges and new opportunities for those affected. Understanding the implications and exploring strategic solutions is essential to staying ahead. What Is the Non-Dom Regime? The non-Dom regime allowed individuals who are...
The UK tax authority, HM Revenue & Customs (HMRC), plans to introduce a financial reward system for informants who provide information about tax evasion. This initiative aims to enhance tax compliance and encourage whistleblowers to come forward by offering them a percentage of the recovered tax revenue. A New Approach to Tackling Tax Evasion Tax...
The UK tax authority, HMRC, has once again enforced IR35 tax rules, targeting a well-known football commentator. The Upper Tax Tribunal has upheld a £300,000 tax bill against the sports broadcaster for his contract work with Sky TV. This case highlights the strict application of IR35 regulations and the financial impact on freelancers in the...
The First-tier Tax Tribunal (FTT) has disallowed multiple dwellings relief from stamp duty for an annexe whose planning permission specified that it could be used only for ancillary purposes to the house. Together with the annexe’s lack of privacy, this implied it was not a separate unit of residential accommodation (Fitzgerald v HMRC, 2025 TC09415).
The UK government is considering making e-invoicing mandatory for businesses. This move aims to enhance efficiency, reduce fraud, and simplify tax compliance. The consultation seeks input from businesses on how best to implement this system. What is E-Invoicing? E-invoicing refers to the digital exchange of invoices between businesses and tax authorities. Unlike traditional paper or...
HM Revenue and Customs (HMRC) has announced a reduction in late payment and repayment interest rates, offering some relief to taxpayers and businesses managing their financial obligations. Understanding these changes can help individuals and businesses plan their tax payments more efficiently. Why has HMRC reduced interest rates? The changes in interest rates are directly linked...
The UK’s tax authority, HMRC, has recently intensified its scrutiny of companies owning residential property. This move aims to ensure compliance with tax regulations, particularly regarding Annual Tax on Enveloped Dwellings (ATED) and Capital Gains Tax (CGT) obligations. Property – owning companies must now ensure their tax affairs are in order to avoid penalties. ...
Copyright by CareAccountancy. All rights reserved.
Copyright by CareAccountancy. All rights reserved.
