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What is a discretionary trust?

What is a discretionary trust?

A trust is an obligation that binds a trustee, an individual or a company, to deal with assets such as land, money and shares and which form part of the trust. The person who places assets into a trust is known as a settlor and the trust is for the benefit of one or...
Car and van fuel benefit charges from 6 April 2025

Car and van fuel benefit charges from 6 April 2025

The vehicle benefit charges for 2024-25 were announced at Autumn Budget 2024. The government will introduce legislation by statutory instrument in December 2024 to ensure the changes are reflected in tax codes for tax year 2025-26. Where employees are provided with...
Close company anti-avoidance measure

Close company anti-avoidance measure

As part of the Autumn 2024 Budget measures, the government introduced new anti-avoidance provisions to prevent the abuse of the existing close company anti-avoidance rule. The measure will have effect for any tax avoidance arrangements falling within the scope of the...
Bolt ruling seals the case against sham contracts

Bolt ruling seals the case against sham contracts

Despite an appeal, the Courts recently found against Bolt in relation to their attempts to evade the statutory entitlements of their drivers to a minimum wage and holiday pay.  The ruling confirms that 10,000 Bolt drivers employed on what was erroneously...
What is an acceptable pensions income?

What is an acceptable pensions income?

Determining an acceptable level of pension income for retirement depends on individual circumstances, including lifestyle expectations, health, and financial commitments. However, several guidelines and studies provide benchmarks to assist in planning. Retirement...