Insights
Our experts provide their insights on the latest industry developments and share tips on accountancy and business matters.
08 July 2025
Building a scalable finance function for venture capital fund managersAs venture capital fund managers navigate the complex world of fund structuring, compliance, and investor relations, the importance of a well-designed finance function cannot be overstated. At Johnston Carmichael, with our network stretching across Scotland to London and beyond, we can support fund managers in setting up and scaling finance operations that meet both immediate and long-term goals.
Allan Easton
VAT Manager
02 July 2025
Important VAT update: Broader exemptions for charity fundraising eventsHMRC’s latest Revenue & Customs Brief 3 (2025) clarifies how VAT applies to income from charity fundraising events, following the Yorkshire Agricultural Society case. The update widens the scope for exemptions, providing opportunities for charities to reclaim overdeclared VAT and enhance their VAT position for future events.
01 July 2025
HMRC consultations on international tax and transfer pricingFollowing HMRC’s consultation issued in 2023 into the reform of the UK’s international tax framework, HMRC has now published draft legislation covering some changes to key international tax topics, including transfer pricing, the definition of permanent establishment, and the Diverted Profits Tax (DPT).
27 June 2025
Scotland’s climate legacy hinges on confidence and stabilityScotland has cut its greenhouse gas emissions by over 60% since 1990 — a remarkable milestone that signals real progress toward net zero. But this success also raises a pressing question: if it took 35 years to achieve the first 60%, how can we deliver the remaining 40% in just 20 years to meet ambitious Government targets?
Karen Brown
Tax Assistant Manager
26 June 2025
HMRC policy change: New scope for VAT reclaims on pension fund managementHMRC has published a new brief announcing a significant shift in the VAT treatment of pension fund management services – a change that opens the door to valuable retrospective claims.
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