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...
The application fee for lasting powers of attorney (LPAs) in England and Wales will increase from GBP82 to GBP92 from 17 November 2025, subject to parliamentary approval. The new fee is to ensure that income from LPA applications better meets the delivery cost, in line with HM Treasury’s Managing Public Money guidance. Disclaimer The information on...
HMRC now estimates that 42 per cent of the 7 million taxpayers in income self-assessment for the 2023/24 tax year will need to comply with Making Tax Digital (MTD) for income tax. Of these 2.9 million people, 864,000 will need to comply from April 2026, roughly 1 million from April 2027 and a further 975,000...
HMRC is writing to taxpayers who ceased to be UK-resident for a short period of time, urging them to ensure they have declared all of their income and gains on their return to the UK. Special rules apply to prevent individuals avoiding UK tax by leaving the UK for a period of five years or...
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Copyright by CareAccountancy. All rights reserved.
