The government has confirmed that inheritance tax relief for farmers will increase, lifting the threshold from £1m to £2.5m. The move follows widespread concern within the farming community, with concern raised over plans set out in last year’s Budget that would see a 20% tax on inherited agricultural assets worth more than £1m as of...
The head of Scottish Financial Enterprise has urged the Scottish Government to reconsider its income tax structure and bring thresholds closer to those used elsewhere in the UK. He believes the current approach discourages skilled workers and overseas talent, particularly as Scottish taxpayers begin paying higher rates at lower income levels. The warning comes ahead...
Businesses across the UK’s hospitality and leisure sector are preparing for significant financial pressure as reforms to business rates take effect from April. Seasonal attractions, hotels, pubs and restaurants are expected to see notable increases, raising fears of higher prices, reduced staffing and potential closures. Industry analysis suggests that popular festive destinations and visitor attractions...
The Treasury has confirmed plans to introduce new legislation that will bring cryptocurrency firms under the oversight of the Financial Conduct Authority from 2027. The proposals aim to regulate digital assets such as Bitcoin in a similar way to traditional financial products, strengthening consumer protection and improving market transparency. Ministers say the move will help...
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...
Chancellor Rachel Reeves says she and Prime Minister Keir Starmer collaborated closely on the Budget and the Government’s tax plans, saying: “We took him through all of the numbers and options and we decided it together as a team.” This came as MPs on the Treasury Committee quizzed the Chancellor on the decision not to...
Research for AXA Commercial shows that 77% of UK adults believe the Government should provide more support for small businesses. The poll, involving 2,000 participants, identified cuts to business rates, lower energy costs and reduced corporation tax as the measures people most want implemented to support small firms. Respondents also backed reducing red tape, simplifying...
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...
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.
