Insights

The reform of the UK's non-domicile regime on 6 April 2025 marked one of the most significant changes to personal tax in a generation. For individuals who spent years navigating the remittance basis, the shift to a residence-based system raises an important question: what happens to the foreign income and gains that were previously sheltered from UK tax?

The OECD offers a simpler way to set service fees for low value-adding intragroup services between related parties, reducing the compliance burden for both multinational groups and tax authorities.

529 college savings plans are a popular education funding and estate planning tool for American families. For US citizens living in the UK, however, the UK position can differ significantly from the US tax treatment, particularly where the account owner, beneficiary, or contributors are UK-resident.

Hospitality businesses that thought the proposed tipping reforms had been shelved may need to think again. Following the withdrawal of an earlier draft revised Tipping Code in July, a new consultation has now been launched, signalling that the reforms remain on the agenda.

UK transfer pricing rules require businesses to be compensated based on the relative value of their activities. Groups in the logistics sector often engage in various cross-border transactions, so it’s essential to conduct proper reviews and maintain thorough documentation to support the pricing of these intragroup dealings.

Large UK companies are required to disclose payment practices and performance in respect of their suppliers. Details of payment terms, performance metrics, and supplier payment practices must be disclosed in the directors' report for financial years beginning on or after 1 January 2026.

Following public consultation, the UK Government has confirmed significant changes to the accounting and reporting requirements for charities, with the aim of reducing the administrative burden and expense for smaller charities.

These changes introduce new thresholds governing the external scrutiny of annual accounts. They come alongside the introduction of SORP 2026, which brings wider changes to charity financial reporting.

The changes to the thresholds will come into effect on 30 September 2026, and will apply to accounting years ending on or after this date

Buzzacott’s first engagement with a leading employee benefits and pension administration provider – delivering its pension administration controls assurance report – marked the start of a relationship built on shared values, a commitment to excellence, and a genuine cultural fit.