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...
The Office of Financial Sanctions Implementation has announced changes to how asset freeze targets are published. From January 2026, its consolidated list will be withdrawn, with the Foreign Office’s UK sanctions list becoming the primary reference point for sanctions designations. An exception will remain for certain Russia-related financial restrictions, which will continue to be listed...
A new report from the Institute for Fiscal Studies’ Tax Law Review Committee highlights the complexity and cost involved in setting up and running trusts for people with disabilities. The paper notes that eligibility rules are often poorly understood and compliance can be burdensome. To address this, the committee has recommended that HMRC publish a...
The England and Wales High Court has ruled on how an estate administrator should proceed where a beneficiary refuses to engage. The case involved a residual estate valued at £185,000, with the court deciding that the beneficiary’s lack of response did not amount to a disclaimer of entitlement. Instead, the court issued a Re Benjamin...
Professional bodies responsible for tax standards have updated their guidance to address the growing use of artificial intelligence in tax work. Amendments to the Professional Conduct in Relation to Taxation (PCRT) framework aim to help advisers apply ethical principles when using AI tools, including responsibility, professional judgement and client confidentiality. STEP is among the seven...
HMRC begins direct contact with taxpayers HMRC has confirmed that the first MTD mandation letters are being issued this month, marking a major step forward in the rollout of Making Tax Digital (MTD) for Income Tax. These letters are being sent to individuals and businesses who will be required to follow MTD rules from April...
Financial advisers expect an increase in marriages among older couples ahead of planned inheritance tax changes. From April 2027, pensions will be included within inheritance tax calculations, potentially increasing the tax burden on families. Married couples and civil partners can combine allowances, allowing significant sums to be passed on tax-free, including additional relief linked to...
With many people selling unwanted Christmas gifts online, questions have arisen about whether HMRC will step in. Tax specialists have clarified that individuals selling personal items occasionally are not the target of HMRC’s compliance activity. The focus remains on those trading regularly as part of the hidden economy. In most cases, selling personal possessions is...
The Institute of Chartered Accountants in England and Wales (ICAEW) has raised concerns that provisions included in the Finance Bill 2025–26 are drafted too broadly and could have unintended consequences for tax advisers. The legislation expands the dishonest conduct rules for tax agents, introducing penalties where actions are taken with the intention of reducing tax...
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Copyright by CareAccountancy. All rights reserved.
