REGISTERED CHARITY NUMBER: 1162512
Report of the Trustees and
Financial Statèmonts for tho Year Ended 31 December 2024
for
Internatlonal Flscal Association UK Congress Trust

Internatlonal Fiscal Association UK Congress Trust
Contents of the Financial Statoments
for the Year Ended 31 December 2024
Page
Report of the Trustees
Independent Examiner's Report
statement of Financial Activities
Balance Sheet
Notes to the Flnanclal Statemgnts
8 to 13

International Fiscal Asso¢iation UK Congress Trust
Report of the Trustees
for the Year Ended 31 December 2024
The Trustees present their report with the financial statements of the charity for the year ended
31 December 2024. The Trustees have adopted the provisions of AccoLJnting and Reporting by
Charities.. Statement Df Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1162512
Principal address
Tanglewood
11 Ellwood Road
Beaconsfield
Bucks Hpg 1EN
Trustees
E G Tomsell (retired June 20241
O Davidson
J Svasti-salee (Chairl
RAJupp
J G Connell
D A Greenb8nk
P W Baker KC
Independent Examlner
Knox Cropper LLP
65 Leadenhall Street
London
EC3A 2AD
Bankers
CAF Bank
25 Kings Hill Avenue
Kings Hill
Wesl Malling
ME19 4JQ

Intemational Flscal Association UK Congr¢s$ Trust
Report of the Trustees
for the Year Ended 31 December 2024
REFERENCE AND ADMINISTRATION:
The official name of the charity is International Fiscal Association UK Congress Trust. The Trust was
formed and registered as a Charitable Incorporated Organisalion on 2 July 2015. Its registration with
the Charity Commission is numbered 1162512.
During 2016 the Trust look over the assets and activities of an existing unincorporated trust (reg no
2685361 which had the same name, aim and objectives, in particular the hosting of the Annual
Congress of the International Fiscal Association which was held in London in September 2019. AII
the property, rights and assets in the old Trust vested in the CIO.
The Trust has no office premises. The Trustees do any ￿e￿sSary work at their own office premises
and hold formal meetings al convenient locations. The Trust's only address is Tanglewood, 11
Ellwood Road, Beaconsfield. Bucks HP9 1 EN,
The Trust has no administrator or support staff, the work being done by the Trustees. The Trust
has no sources of income other than its invested funds which derive from the surpluses arising
from past Congresses.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trust is a Charitable Incorporated Organisation governed by ils Trustees in accordance with its
onstilution.
There are no formal procedures for the induction or training ofTrustees. The changes in Trustees during
the year and lo date are given at the beginning of this report.
All decisions are made by the Trustees, either in formal or informal meetings or by correspondence.
The Trust supports members of the British Branch of the International Fiscal Association who play an
active role in the annual Congresses of the As50cialion. This is done by making grants towards their
expenses of allending the Congress.
The Trustees have responsibility for ensuring that the charity has appropriate systems of control,
both financial and operational. These systems are designed to provide reasonable, but not absolute,
assurance against material misstalemenl or loss.
During the period the Trustees continued to review the major financial and operational risks facing
the Trust. They continued to monitor the implemenlalion of any changes necessary lo ensure that, as
far as is reasonable, controls are in place to protect the charity, ils members and other stakeholders.
OBJECTIVES & ACTIVITIES. ACHIEVEMENTS AND PERFORMANCE
The object of the charity is the furtherance of education in the field of international laxalion in such ways
as the Trustees think fit.
In particular this includes organising the Annual Congress of the International Fiscal Association when
il is held in the UK, and providing fi'nancial assistance to encourage the participation of members of
academic institutions in Congresses when held overseas, or in academic studies and achievements in
the fi'eld of international tsx.

Internatlonal Fiscal Assoclatlon UK Congress Trust
Report of the Trustees
forthe Year Ended 31 December 2024
The Trustees confi'rm that they had due regard to the guidan￿ contained in the Charity Commission's
general guidance on public benefit when reviewing the Charity's aims and objectives and in planning
future activities.
FINANCIAL REVIEW
During the year there was no change in the holdings of the investments made in Charities unit trusts
in the previous year. This accounts for £229,131 of the funds available. The balance is held in cash
ready lo meet the cost of any grants etc.
In furtherance of ils aims the Trustees made three grants during the period lo assist academics and
others lo allend Congresses, and one for attendan￿ at a meeting of the IFA Permanent Scientific
Committee. A grant was also made in support of a laxalion workshop held at Oxford University. In
addition, the Trustees awarded a prize of £3.000 to the student submitting the best essay on UK
intemalional lax law.
Apart from the provision for the Independent Examiner's fee and bank charges there have not been,
and are unlikely to be, any management expenses.
Total reserves at the year end amounted lo £263.970. The Trustees consider that the level of reserves
is sufficient lo enable the trust lo fulfil its objectives.
PLANS FOR FUTURE PERIODS
The aim of the Trust is to distribute funds as and when suitable projects for support arise. No time frame
has been set for this. If it is found that the Annual Congress is likely to be in London in the foreseeable
future some funds may be designated to provide initial funding.
GOING CONCERN
Apart from those noted above, the trust has no commilmenls, and the Trustees consider that the Trust
has adequate resources lo continue lo operate in the foreseeable future. They have therefore adopted
the going concern basis of accounting In preparing the financial slalements.

Internatlonal Flscal Association UK Congress Trust
Report of the Trustees
for the Year Ended 31 December 2024
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Trustees are responsible for preparing the Report of the Trustees and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Praclicel.
The law applicable lo charities in England and Wales, the Charities Act 2011, Charity (Accounts and
Reports) Regulations 2008 and the provisions of the trust deed requires the Trustees to prepare
financial statements for each financial year which give a true and fair view of the slate of affairs of the
charity and of the incoming resources and application of resources, including the income and
expenditure, of the charity for that period. Sn preparing those fi'nancial statements, the Trustees are
required to
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charity SORP.,
make judgements and eslimales that are reasonable and prudent.,
slate whether applicable accounting standards have been followed, subje¢l to any material
departures disclosed and explained in the financial stalemenls.,
prepare the financial statements on the going conTrrn basis unless it is inappropriate to
presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy al any lime the financial position of the charity and lo enable them lo ensure that the fi'nancial
statements comply with the Charities Act 2011, the Charity (Accounts and Reportsl Regulations 2008
and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of Trustees on
2 tils...... and signed on its behalf
J Svasli-sa

International Flscal Assoclatlon UK Congress Trust
Year ended 31st December 2024
Independent Examiner'$ Report to the Trugtees of the International Flscal Assoclatlon UK
Congress Tru$t
I report lo the Trustees on my examination of the accounts of the International Fiscal Association UK
Congress Trust for the year ended 31st December 2024.
This report is made lo the Trustees, as a body, in accordance with the terms of my engagement. My
work has been undertaken so that I might carry out an Independent Examination of the financial
slalemenls in accordance with the General Directions given by the Charity Commissioners. To the
fullest extent pem)illed by law, I do not accept or assume responsibility to anyone other than the
Charity and the Charity's Trustees, as a body, for my examination for this report or for the opinions I
have formed.
Responsibilities and basi$ of report
The Charity's Trustees are responsible for the preparation of the financial stalemenls". The Charity's
Trustees consider that an audit Is not required for this year lunder section 145 of the Charities Aot
2011 Ilhe Acll and that an independent examination is needed. 11 is my responsibility to examine the
financial slalemenls (under section 145111181 of the Acll," to follow procedures laid down in the General
Directions given by the Charity Commissioners under section 14515llbl of the Act, and to state whether
particular matters have come lo my attention.
Basis of Independent Examiner's Report
My examination was carried out in accordance with the General Directions given by the Charity
Commission. An examination includes a review of the accounting records kept by the charity and
comparison of the accounts presented with those records.11 also includes consideration of any unusua
items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any
such matters. The procedures undertaken do not provide all the evidence that would be required in an
audit, and consequently no opinion is given as lo whether the accounts present a true and fair view"
and the report is limited lo those mallers sel out in the statement below.
Independènt Examiner's statement
I have completed my examination. I confirm that no material matters have come lo my attention in
connection with the examination giving me cause lo believe that in any material aspect".
al accounting records were not kept in respect of the Trust as required by section 130 of the Act.. or
bl that accounts do not accord with those records," or
cl that accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than the
requirement that the accounts give a true and fair view. which is not a matter considered as part
of an independent examination.
I have no concerns and have come across no other matters in connection with the examination lo
which allenlion should be drawn in this report in order lo enable 8 proper understanding of the
acco
nts lo be reached.
eg Stevenson
Knox Cropper LLP
Chartered Accountants
65 Leadenhall Street
London
EC3A 2AD
Dale..

International Flscal A$soclatlon UK Congres8 Trust
Statement of Financial Activitles
For the Year Ended 31 December 2024
Unrestricted
Funds
2024
Unrestricted
Funds
2023
Notes
INCOME AND ENDOWMENTS
FROM
Investment income
12,805
11,927
Total
12,805
11,927
EXPENDITURE ON
Raising funds
Charitable activities
12,160
4,793
Total
12,160
4,793
Net incominglloutgoingl resour¢e$
boforo investment gainlllossesl
645
7,134
Net gainsl{lossesl on invgstments
3,937
1,765
Net movements in funds
4,582
5,369
RECONCILIATION OF FUNDS
Total funds brought forward
259,388
254 019
TOTAL FUNDS CARRIED
FORWARD
263,970
259,388
The notes form part of these financial slalements

Internatlonal Flscal Assoclatlon UK Congress Trust
Balance Sheet
At 31 De¢¢mber 2024
2024
2023
Notes
FIXED ASSETS
Investments
229,131
225,194
CURRENT ASSETS
Bank
36,939
36,939
36.234
36.234
CREDITORS
Amounts falling due within one
year
12,1001
12,0401
12,1001
{2,0401
NET CURRENT ASSETS
34,839
34,194
TOTAL ASSETS LESS
CURRENT LIABILITIES
263,970
259,388
NET ASSETS
263,970
259,388
FUNDS
10
Unrestricted funds
General funds
ogsignated fund$
263,970
259,388
263,970
259,388
The financial slalements were approved by the Board of Trustees on
2C)2S
and were signed on ils behalf by..
J Svasli-salee
O Davidson
The notes form part of these financial slalemenls

Intemational Fiscal Asso¢iation UK Congress Trust
Notgs to the Flnanclal Statements
For the Year Ended 31 December 2024
ACCOUNTING POLICIES
Basis of preparing the financlal statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been
prepared in accordanee with the Charities SORP IFRS 1021 'Accounling and Reporting by Charities..
Statement of Recommended Practice applicable lo charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective
1 January 20231,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in
the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been
prepared under the historical cost convention, with the exception of investments which are included at
market value, as modified by the revaluation of ￿rtain assets.
The Trustees consider that there are no material Un￿rI21n11eS about the Trust's ability to continue as
a going concern.
The fi'nancial stslemenls are presented in pounds sterling.
Incomg
All income is recognised in the Ststemenl of Financial Activities once the eharily has entillemenl to the
funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are rec(￿niSed as expenditure as soon as there is a legal or constructive obligation
committing the charity to that expenditure, il is probable that a transfer of economic benefits will be
required in settlement and the amount of the obligation can be measured reliably. Expenditure is
accounted for on an accruals basis and has been classified under headings that aggregate all cost
related lo the category. Where costs cannot be directly allribuled lo particular headings they have been
allocated lo activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been mel at the year end dale are noted as a
commitment but not accrued as expenditure.
Taxation
The charity is exempt from lax on its charitable activities.
Fund accountlng
Unrestricted funds can be used in accordance with the charitable objectives al the discretion of the
Trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted
purposes.
Forelgn currencios
Assets and liabilities in foreign currencies are translated into sterling al the rates of exchange ruling at
the balance sheet date. Transactions in foreign currencies are translated into slerfing at the rale of
exchange ruling al the dale of transaction. Exchange differences are taken into account in arriving at
the operating result.

Intgmational Flscal Association UK Congress Trust
Notes to the Financial Statoments
For tho Year Ended 31 December 2024
Financlal Instruments
The Trust only has financial assets and liabilities of a kind that qualify as basic financial inslrumenls.
These are initially recognised al transaction value and subsequently valued at their settlement value
investment.
Investment pollcy
Investments are a form of basic financial instrument and are initially recognised al their transaction
value and subsequently measured at their fair value as at the balance sheet date using the closing
quoted market price. The statement of financial activities includes the net gains and losses arising on
revaluation and disposals throughout the year.

Intematlonal Flscal Assoclatlon UK Congre$$ Trust
Notes to the Financial Statements
For the Year Ended 31 December 2024
2. INVESTMENT INCOME
2024
2023
Dividends
Interest
12,733
72
12,805
11,862
65
11.927
3. CHARITABLE ACTIVITIES
Direct
costs
Support costs
Total
2024
Other charitable activities
10.000
10,000
2,160
2.160
12,160
COMPARA TIVES 2023
Other charitable activities
2,690
2,690
2,103
2,103
4,793
4,793
Support Costs have been allocated based on the Direct Costs.
4. OTHER CHARITABLE ACTIVITIES
2024
2023
Grants lo attend Congress
Grants lo attend PSC Meeting
Writing competition prize
Grant lo Taxation workshop
5,000
500
3,000
1,500
2,690
10,000
2,690
10

International Fi$¢al Association UK Congress Trust
Notes to the Flnanclal Statements
For the Year Ended 31 December 2024
5. SUPPORT COSTS
2024
2023
Independent ExaminerlAuditors' remuneration
Bank charges
2,100
60
2,040
63
2,160
2,103
Governance costs included in Support Costs amounts to £2,10012023.' £2,040).
6. TRUSTEES. REMUNERATION AND BENEFITS
There were no Trustees, remuneration or other benefits for the year ended 31 December 2024 nor for
the year ended 31 December 2023.
There were no Trustees, expenses paid for the year ended 31 December 2024 nor for the year ended
31 December 2023.
7. STAFF COSTS
There were no staff costs for the years ended 31 December 2024 or for 31 December 2023.
8. INVESTMENTS
2024
2023
LISTED INVESTMENTS
Market value brought forward a11 January
Additions
Disposals
Realised gainslllossesl
Unrealised gainslllossesl
225.194
226,959
3.937
{1,7651
Market value carried forward al 31
December
229,131
225,194
Investments al market value comprised..
UK equities
UK fixed interest
194,022
35,109
188,803
36,391
229,131
225,194
There were no investment assets outside the UK.

International Fiscal Associatlon UK Congress Trust
Note$ to the Financial Statements
For the Year Ended 31 December 2024
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Accruals
2,100
2,040
2,040
10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
General fund
Oeslgnated
fund
Total
2024
Investments
Current assets
Current liabilities
229,131
36,939
2,100
263,970
229, 131
36,939
2,100
263,970
COMPARA TIVES 2023
General fund
Designated
fund
Total
2023
Investments
Current assets
Current liabilities
225,194
36,234
2,040
259,388
225,194
36,234
2,040
259,388
12

Internatlonal Flscal A$sociation UK Congress Trust
Notes to the Financlal Statements
For the Year Ended 31 December 2024
11. MOVEMENT IN FUNDS
Net
movements
n funds
At 1.1.24
At 31.12.24
General fund
Designated fund
259,388
4,582
263,970
Total Unrestricted fund
259,388
4,582
283,970
COMPARA TIVES 2023
Net
movements
in funds
At 1.1.23
At 31.12.23
General fund
Designated fund
254.019
5,369
259,388
Total Unrestricted fund
254,019
5,369
259.388
12. RELATED PARTY TRANSACTIONS
There were no related party transactions during the year
13. GOING CONCERN
There has been no material change in the Tru51's financial position since the balance sheet date, thus the
going concern basis of accounting has been adopted in preparing the financial slalements.
13