Practical, plain-English guidance on audit, tax, VAT, accounts and advisory — written by our chartered accountants.
1224 articles · page 20 of 102
The lifetime allowance was abolished on 6 April 2024 . Two allowances replaced it: a lump sum allowance of £268,275 and a lump sum and death benefit allowance of £1,073,100 , both unchanged for…
Read articleAn offshore trust holding UK property faces four separate charges, and the trustees are directly liable for most of them. Rents are taxed at 45% for a discretionary trust with no personal…
Read articleA working VAT checklist has seven parts: registration, digital records, returns, payment, penalties, records and error correction. The numbers that matter most are the £90,000 registration…
Read articleThe directors' report lost roughly half its content on 6 April 2025 . Financial instruments, post-balance-sheet events, likely future developments, research and development, overseas branches…
Read articleElectronic sales suppression is HMRC's name for manipulating till records to hide takings. Since 24 February 2022 merely possessing an ESS tool carries a penalty of up to £1,000 , with up to £75…
Read articleMost UK companies do not need an audit. The small company thresholds rose on 6 April 2025 to turnover £15 million , balance sheet total £7.5 million and 50 employees , meeting two of the three.…
Read articleNo UK company is required by statute to operate an "ESG risk management framework". What exists are threshold-based disclosure duties: SECR for large companies and all quoted companies…
Read articleEmployee ownership trusts are sold on the tax relief, and the relief has halved. Since 26 November 2025 only 50% of the gain is exempt — and claiming that relief now blocks business asset…
Read articleFour tax questions decide the economics of a commercial property deal, and three of them are fixed permanently at completion. SDLT on the premium and separately on the rent. VAT , and whether a…
Read articleFund reporting runs on two separate tracks with different rulemakers and different deadlines. FCA rules require authorised funds to publish long reports within four months of the annual period…
Read articlePRA110 is the cash flow mismatch return — a maturity ladder that spreads contractual and contingent flows across 108 time buckets . Whether you file it weekly or monthly turns on one threshold…
Read articleSignificant risk transfer is what lets an originator take securitised exposures out of its risk-weighted assets. Two mechanistic tests do most of the work — a mezzanine test at 50% and a first…
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