The International Tax Compliance (Amendment) Regulations 2025 compel UK investment managers and other financial institutions to register with HMRC by 31 December 2025, even if they have no reportable financial accounts. The new rules catch fund managers authorised by the Financial Conduct Authority, portfolio managers, alternative investment fund managers and other entities managing investments on a discretionary...
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 government has confirmed that the new carried interest tax regime will not catch non-UK resident individuals who spend fewer than 60 days in the tax year performing investment management services in the UK. Non-UK resident investment managers may also be entitled to relief under a double taxation treaty if they do not have a...
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...
From April 2026, employees will no longer be able to claim tax relief on expenses for working from home. Employers can still reimburse employees for these costs, where eligible, without deducting income tax and National Insurance contributions. The policy is a response to an increase in claims where the employees were not eligible for relief....
A daughter who was left just £250 in her father’s Will has successfully challenged it in court, securing a share of his £600,000 estate. Laxmikant Patel, 85, died in October 2021, leaving his home entirely to his eldest daughter, Anju, while giving his younger daughter, Bhavenetta, and his son, Piyush, only £250 each. Anju claimed...
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.
