EY and two member firms are under investigation by the Financial Reporting Council (FRC) for issuing auditor reports without proper approval. The audit watchdog said reports were issued to unnamed entities without proper approval from a senior statutory auditor. The FRC’s Conduct Committee decided to open the investigation in July and it will be conducted...
The UK Supreme Court (UKSC) has refused Jenny Helliwell leave to appeal her England and Wales High Court defeat against former husband Simon Entwistle. Entwistle successfully challenged a pre-nuptial agreement in which Helliwell had made a gross understatement of her assets (Helliwell v Entwistle, 2025 EWCA Civ 1055). In the original judgment, Entwistle was awarded only GBP400,000...
Sheikh Mohamed Bin Issa Al Jaber has lost a case in the UK Supreme Court (UKSC) against liquidators who claimed he was in breach of fiduciary duties to an offshore company of which he was director. The UKSC unanimously rejected the Sheikh’s argument that he could not owe fiduciary duties because he had no relevant...
HMRC is sending letters to taxpayers who it believes should ensure that any legal interpretation applied in a tax return or other document sent to HMRC is ‘correct in both fact and law’ as set out in its Guidelines for Compliance 13. HMRC says that where the taxpayer has relied on a particular interpretation of the...
A GBP1.237-million payment made to an employee under his employer’s long-term incentive plan was taxable as employment income even though it was paid after he had permanently left both the company and the UK, the Upper Tax Tribunal has ruled. It found that it did not matter that the employment was not held when the...
The Law Society of England and Wales (the Law Society) has asked the government to amend the legislation on making wills without further delay, six months after publication of the Law Commission of England and Wales’ report Modernising Wills Law. ‘There has been no movement from the government on updating this crucial law’, says the...
Identity verification of directors and people with significant control (PSCs) becomes a legal requirement from 18 November 2025. The date marks the start of a 12-month transition period, giving time to make sure all persons have verified their identity by their due dates. Verified identities will be connected to the new GOV.UK One Login system. Disclaimer...
The Charities Act 2022‘s final implementation phase comes into force on 27 November 2025, amending the law in England and Wales governing ex gratia or moral payments made by charity trustees. From 18 November, charities must file their registers of directors, secretaries and persons of significant control with Companies House. More reform is coming in April 2026...
The UK’s Autumn Budget revealed a series of enhancements to allow more companies to benefit from the enterprise management incentive (EMI) scheme. From April 2026, the eligibility criteria will be expanded to include companies with up to 500 employees and gross assets of up to GBP120 million (previously 250 employees and GBP30 million). The total...
High-net-worth taxpayers are receiving letters from HMRC asking them to check they meet the criteria for foreign tax credit relief under relevant double tax agreements, before making a claim in their self-assessment tax return for 2024/25. Disclaimer The information on this Blog is for general purposes only on matters of interest. The Company assumes no...
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Copyright by CareAccountancy. All rights reserved.
