Until now, you only had to tell the taxman you had money in a trust if there was tax to pay; in the same way you have a duty to tell him if you have any other income for which you might owe tax. Someone at HMRC had the bright idea that they should know about every trust, everywhere, just in case you might have got it wrong. And they want it all to be done online, by 1st September. This is a huge and very fiddly exercise, which many won’t realise they have to undertake. There’s supposedly a £250 fine for those that don’t make the deadline. In the words of the Kaiser Chiefs, I predict a riot. Or at least, many a disgruntled trustee, who may not have even realised they were one!
“Is the AI hype machine losing steam?”
Many of the reviving rises in stock markets, particular in the US in the last year or so have been driven by AI. Not those buy-and-sell computerised algorithms we’ve heard so much about for years now; but the share prices of the big tech companies ‘at the heart of the AI revolution’.
