Growing numbers of families are turning to trusts as part of inheritance tax planning ahead of expected reforms. HMRC data shows that 121,000 trusts were registered in the 2024/25 tax year, up from 115,000 the year before. With the inheritance tax nil-rate band remaining frozen at £325,000 since 2009, advisers report increased interest in alternative...
BlueCrest Capital Management is set to appear before the UK Supreme Court in a high-profile tax case involving the employment status of its members. HMRC argues that most members should be treated as salaried employees rather than self-employed partners, which could result in tax liabilities approaching £200 million. The case will focus on the interpretation...
HMRC has significantly increased its scrutiny of property deals, with the number of investigations rising by 88% in the 2024/25 tax year. The tax authority has also reported a sharp increase in additional Stamp Duty Land Tax recovered, reaching £200 million. Advisers warn that complex SDLT rules, particularly around main residence status and second property...
UK travel firms are reporting changes in consumer booking behaviour as rising taxes reduce disposable income. While January has become the most popular month for booking holidays, industry leaders say many customers are delaying decisions in the hope of last-minute deals. Recent Budget measures, including the continued freeze on income tax thresholds and increases to...
The Financial Conduct Authority has launched a review into how artificial intelligence could transform retail financial services. The review will assess both the opportunities and risks associated with AI-driven decision-making, including concerns around bias, fraud and accountability. While AI tools could improve efficiency in areas such as payments and claims handling, the regulator has signalled...
Public sector pension schemes have been described as a major long-term liability for UK taxpayers, with estimated obligations of £1.4 trillion. Policy commentators argue that the current structure, including employer contribution rates of up to 30%, is unsustainable when compared with private sector provision. Proposals include moving towards defined contribution arrangements, which supporters say could...
HMRC confirms tax code changes for the new tax year HMRC has announced tax code changes for the 2026–27 tax year, affecting millions of employees, pensioners and self-employed individuals across the UK. Tax codes play a crucial role in determining how much Income Tax is deducted from your earnings, so even small changes can impact...
Why data protection changes matter now Recent data protection changes have introduced important updates that organisations across the UK need to be aware of. Whether you run a business, charity, or professional practice, handling personal data correctly is no longer just best practice—it is a legal requirement. These updates aim to modernise existing rules, clarify...
The England and Wales High Court has ruled that informal digital communications are insufficient to prove the transfer of a beneficial interest in property. In a bankruptcy-related dispute, the court rejected claims that ownership had passed via WhatsApp and email messages prior to insolvency. As a result, the financier’s former spouse was ordered to vacate...
Companies House has confirmed a delay to new identity verification requirements for individuals submitting documents on behalf of companies. The measures, introduced under the Economic Crime and Corporate Transparency Act 2023, will now take effect from November 2026. The delay allows Companies House to prioritise the rollout of identity checks for directors and people with...
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Copyright by CareAccountancy. All rights reserved.
