KRA Small Trader Tax Crackdown – What It Means for Kenyan Businesses KRA Small Trader Tax Crackdown – What It Means for Kenyan Businesses The Kenya Revenue Authority (KRA) has intensified efforts to improve tax compliance among small traders and informal businesses. This crackdown aims to ensure that all eligible businesses are properly registered and paying the correct taxes. What is the KRA Tax Crackdown? The crackdown refers to increased enforcement actions by KRA targeting small-scale traders who may not be fully compliant with tax regulations. This includes identifying unregistered businesses, monitoring transactions, and ensuring proper tax filing. Monitoring mobile money and digital payments Tracking business income Enforcing tax registration requirements Legal Authority & References Income Tax Act (Kenya) Value Added Tax (VAT) Act Tax Procedures Act, 2015 KRA official guidelines and public notices Official Source: https://www.kr...
UK Pension Inheritance Tax Changes 2027 – Full Guide UK Pension Inheritance Tax Changes 2027 – Complete Guide The UK government has announced major changes to how pensions are treated under Inheritance Tax (IHT) . These changes, effective from 6 April 2027 , will significantly impact estate planning and wealth transfer. What is Changing? Under current UK rules, most pension funds are excluded from inheritance tax . However, this will change from April 2027. Unused pension funds will be included in the estate for IHT calculation Pension death benefits will also be taxed under IHT Executors (not pension providers) will handle tax reporting 📌 According to HMRC, “unused pension funds and death benefits will be brought into scope of inheritance tax from 6 April 2027.” Current Rules (Before 2027) Pensions are generally outside the estate for IHT If death occurs before age 75 → usually tax-free for beneficiaries If after 75 → income tax applies, bu...