REGISTERED CHARITY NUMBER: 1162512
Report of tho Trustees and
Flnanclal Statements for the Year Ended 31 Decembèr 2025
for
lntornational Fiscal Assoclation UK Congress Trust

International Flscal A8soclatlon UK Congress Trust
Contents of the Flnanclal Statem8nts
for thg Yèar Ended 31 December 2025
Page
Report of the Trustees
Independent Examlner'8 Report
Statement of Flnanclal Actlvltles
Balance Sheet
Notes to the Flnanclal Statements
8 10 13

Intemational Flscal Assoclation UK Congress Trust
Rgport of the Trustees
for the Year Ended 31 December 2025
The Trustees present their report with the financial statements of the charity for the year ended
31 December 2025. The Tmslees have adopted the provisions of Accounting and Reporting by
Charilles., Statement of Recommended Practice applicable to charities preparlng their accounts in
accordance with the FinanGial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1162512
Prlncipal address
Tanglewood
11 El￿OOd Road
Beaconsfield
Bucks HP9 IEN
Trustees
E G Tomsetl (retsred June 20251
O Davidson
J Svasli-Sale8 (Chair)
RAJupp
J G Connell
D A Greenbank
P W Baker KC
Indopendent ExAmlner
Knox Cropper LLP
65 Leadenhall Street
London
EC3A 2AD
Bankers
CAF Bank
25 Kings Hill Avenue
Klngs Hill
Wèst Malllng
ME19 4JQ

International Fi$eal Assoclation UK Congro$s Trust
Report of the Trustees
for the Year Ended 31 Docemb¢r 2025
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. Ils 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 Ihe Annual
Congress of the International Fiscal Association which was held in London in September 2019. AII
the property, rights and assets in the old Trusl vested in the CIO.
The Trust has no office premises. The Trustees do any necessary work at their own office premises
and hold formal meetings al convenient locations. The Trust's only address is Tanglewood, 11
Ellwood Road, Beacon5f￿Éd, 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 its Trustees sn accordance with its
conslilulion,
There are no formal procedures for the induction or training of Trustees. The changes in Trustees during
the year and to date are given al the beginning of this report.
All decisions are made by the Tmstees, either in formal or informal meetings or by correspondence.
The Trustees have responsibility for ensuring that the charity has appropriate systems of control,
both linancsal and operational. These systems are designed lo provide reasonable, bul not absolute,
assurance against material misslalemenl or loss.
During the period the Trustees conlinuod lo review the major financial and operational risks facing
the Trust. They continued to monitor the impl8menlation of any changes necessary lo ensure that, as
far as is reasonable, controls are in place lo protect the charity, ils members and other stakeholders.
OBJECTIVES & ACTIVITIES. ACHIEVEMENTS AND PERFORMANCE
The object of the charity is the furtheranc8 of education in the field of inlernalional taxation in such ways
as the Trustees think fil.
In particular this may include supporting the organisalion of the Global Annual Congress and the
European Region Congress of the International Fiscal Association whgn they are to be hekl in the UK,
and providing financi81 assistance to encourage the parttcipation of members of academic institutions
in Congresses when held overseas. or in academic studies and achievements in the field of
intewnalional lax.

International Fi$¢al A$$oclatlon UK Congress Trust
Report of the Trustees
for the Year Ended 31 December 2026
The Trustees confirm that they had due regard to the guidance contained in the Charity Commission's
general guKlance on public benefit when reviewlng the Charity's aims and objectives and in planning
future aGlivilies.
FINANCIAL REIIIEW
During the year one of the unit trusts held was closed and so the fun(Js were reinvested in another of
Ihe existing holdings. Th8 total holding in Charity unil Irusls amounts lo £263,510. The balance of
reserves is held in cash ready to meet th8 cost of any grants etc.
In lurlheranGe of ils 8ims the Trustees made one giant during the period lo assist 2 member allend
and play an aGtive role in the annual Congress. In addition, the Trustees are awarding the 2025 prize
of £3,000 lo the sludenl who submilled the best essay on UK inlemats'onal tax law in 2025.
Apart from the provision for the Independent Examinerfs fee and bank charges there have not been.
and are unlikely to be, any management expenses.
Total reserves 8t the year end amouriled lo £204,465. The Trustees consider that the level of reserves
is sufficient lo enabl& th& trkjst lo fulfil ils objectives.
PLANS FOR FUTURE PERIODS
The aim of the Trust is to distribltle funds as anij when suitable projects for support arise. No lime frame
has been sel for this. 11 il is found that the Annual Congress is likely to be in London in the foresgeable
future some lunds may be designated to provide Iriitial funding.
GOING CONCERN
Apart from those noted above, the trust has no commitments, and the Trustees consider that the Trust
has adequate resources to continue lo operate in the foreseeable future. They have therefore adopted
the going concern basis of accounting in preparing the fi"nanGial statements.

Intematlonal Fiscal Asso¢latlon UK Congress Trust
Report of the Trustees
tor the Year Ended 31 December 2025
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Trustees are responslble for preparing the Report of the Trustees and the linan¢lal ststements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The18w applicable to charities in England and Wales, the Charities Act 2011. Charily {Accounls and
Reports) Regulations 2008 and the provisions of the trust deed requires the Trustees to prepare
financial statements for each financial year which glvè a true and fair view of the slate ol affairs of the
charity and of the incoming resources and application of resources, incIL￿ing the income and
expenditure. of the charity for that period. In preparing those flnancial statements, the Ttustees are
required lo
select suitable 8ccounlirÈg policies and then apply them consistently..
observe the methods and principlos it7 the Charity SORP,.
make judgements and eslimales that are reasonable and prudent.,
slate whether applicable accounting standards have been followed. subject lo any material
departures disclosed and explair¢ed in the financi21 slatemenls.,
prepare the financial statements on the golng concern basis unless it Is Inappropriate to
presume that the ¢harily will continue in buslness.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the fi'nancial position of the charlty and lo enable them lo ensure that the financial
ststements comply with the Charities Act 2011, the Charity (Accounts and Reports} Regulations 2008
and the provisions ol the trust deed. They are a150 responsible for safeguarding the assets of the charity
and hence for taking ￿aSonable steps for the prevention and detection of fraud and other irregular￿lieS.
Approved by order of the board of Trustees on
by..
and signed on ils behalf
J Svas

Internatlonal Flscal Agsoclatlon UK Congress Trust
Y¢ar ended 318t December 2025
Independent Examlner's Report to the Trustee8 of the International Fiscal A$soclatlon UK
Congress Tru$t
I report lo the Trustees on my examination of the accounts of the Inlernatlonal Flscal Association UK
Congress Trust for the year ended 31$l December 2025.
This report is made to 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 fin8ncial
statements in ac¢ordan¢e with the General Dlreclions glven by the Charity Commissioners, To the
fullest exlenl permilled by L8w, I do not accept or assume responsibility lo anyone other than Ihe
Charity and the Charity's Trustees. as 8 body, for my examination for this report or for the opinions I
have formed.
Responsibllitles and ba$1$ of ieport
The Charity's Trustees are responsible for the preparation of the financial statements.. The Charity's
Trustees consider that an audit is not required for this year (under sèction 145 of the Charities Act
2011 {Ihe Acll and that an independent examinatlon Is needed. 11 is my responsibility lo examine the
financial statements (under Section 145(1)(a) of the Act)., to follow procedures laid down in the Gener81
Directions given by the Charity CommiSs￿nerS under section 14515llb} of the Act, and to slate whether
particular matters have Come lo my attentlon.
Basls of Indèpendent Examiner's Report
My examination was carried out in accordance with the General Directions given by the Charity
Commission. Ar¢ examination includes a review of the accounting records kept by the charity and a
comparison ofthe accounts presented with those records.11 also includes consideration of any unusual
rtems or disclosures in the accounts, and se9king explanations from you as Trustees concerning any
such mallers. The procedures undertaken do not provide all the evidence that would be required in an
audit. and consequently no opinion is gwen as lo whether the accounts present a 'lrue and fair vie￿,
and the report is limited to those matters sel out in the statement below.
Indepgndent Examlner'$ statement
I have completed my examination. I confirm that no materlal matters have come to ry 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 Twst 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 ¢ont8nl of
accounts sel 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 ma119r considered as part
of an independent examination,
I have no concems and have come across no other matters in connection with the examination to
which attention should be drawn ITI this Teport in order lo enable a proper understanding of the
accounts to be reached.
Greg Stevenson
Knox Cropper LLP
Chartered Accountants
65 Leadenhall Street
London
EC3A 2AD
Dale.. gD' Ap
2026

Internatlonal Fiscal Association UK Congress Trust
statement of Flnancial Actlvltles
For the Yèar Ended 31 Decgmber 2025
Unrestricted
Funds
2025
Unrestrlctgd
Funds
2024
Noto$
INCOME AND ENDOWMENTS
FROM
Investment income
13,528
12,805
Total
13,528
12,805
EXPENDITURE ON
Raising funds
Charitable activities
7,412
Total
7,412
12,160
Net Incomlngl{outgolng) re50urc8s
bofore investment galnlllossesl
6,116
645
Net gainslllossesl on Investments
34,379
3,937
Net movements In funds
40,495
4,582
RECONCILIATION OF FUNDS
Total funds brought forward
283 970
259 388
TOTAL FUNDS CARRIED
FORWARD
304 465
263 970
The notes form part of these financlal statements

Intornallonal Fiscal Assoclatlon UK Congress Trust
Balance Sheel
At 31 December 2025
2025
2024
Note8
FIXED ASSETS
Irlvestments
263.510
229,131
CURRENT ASSETS
Bank
36 939
36,939
46,305
CREDITORS
Amounts falling due within on6
year
15,350)
12.100}
15,350
12,1001
NET CURRENT ASSETS
40,955
34,839
TOTAL ASSETS LESS
CURRENT LIABILITIES
304,465
263.970
NET ASSETS
304 465
263 970
FUNDS
10
Uniestrlcted funds
General funds
Deslgnatgd fund8
304,465
263,970
304,465
263,970
The financial statement5 were approved by the Board of Trustees on
and were signed on ils b&half by..
asli-salee
O Davidson
The notes form part of these financial statement8

Internatlonal Flscal Asso¢l4tlon UK Congress Trust
Notes to the Flnanclal Statomgnts
For the Year Ended 31 December 2025
ACCOUNTING POLICIES
Ba$ls of preparlng the financlal statements
The financial statements of the charity, wlich Is a public benefit enlity under FRS 102, have been
prepared in accordance with the Charities SORP IFRS 102) 'Accounling and Reporting by Charities.,
Statement of Recommended Practice applicable to charities preparing their a￿Ount8 in accordance
with the Financial Reportlng Standard applicable in the UK and Republic of Irelan¢J (FRS 1021 (effective
1 January 2024),. Financial Reporting Standard 102 'The Financial Reporling Standard applicable in
the UK and Republic of Ireland, and the Charities AGt 2011. The financial statements have been
prepared under the historical cost convention. with the exception of investments which are included al
markel value, as modified by the revaluation of certain assets.
The Trustees consider that the￿ are no material uncerlalnlies about the Trust's ability to continue as
a going concern.
The financial statements are presented in pounds slerllng.
Income
All income is recognised in the Statement of Financial AGlivitses once the charity has enlitlemenl lo the
funds, it is probable that tho inGome will ts received and the amount can be ￿￿asured reliably.
Expendlture
Liabilities are recognised as expenditure as soon as there is a legal or constru¢live obligation
committing the charity to that expenditure. it is probable that a transfer of economi¢ benefits will be
iequlred in selllement and the amount of the obligation carl be measured reliably, Expenditure is
aecounted for on an accruals basis and has been classifled under headings that aggregate all cost
related lo the category, Where costs cannot be directly atlribuled lo particular headings they have bee
allocated lo activities on a basls consislenl with the uso ol resources.
Grants offered subject to conditions which havè not been mel al the year end dale are noted as a
commitment but not accrued as expenditure.
Taxatlon
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 object8 of the charlly.
Restrictions artse when specified by the donor or when funds are raised for parliculaT restrlcted
purposes.
Foreign ¢urren¢le8
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 steTling at the rate of
exchange ruling at the dale of Iran52Ction. Exchange differences are taken into account in arriving at
tho operating result.

Internatlonal Flscal Associatlon UK Congress Trust
Notes to the Flnanclal Statements
Forthe Year Ended 31 December 2025
Flnanclal Instruments
The Trust only has financial assets and liabilities of a kind that qualify as basic financial instruments.
These are initially recognised al transaction value and subsequently valued al their settlemenl value
investment.
Investment pollcy
Invèstments are a form of basic finan¢ial instrument and are initially reoognised al their transaction
value and subsequently measured at their fair value as al the balance sheet date using the closing
quoted market price. The statement of financial activities includ85 the nel gains and losses arising on
revaluation and disposals throughout the year.

International Flscal Assoclatlon UK Congress Trust
Notes to the Flnanclal Statements
For the Year Ended 31 December 2025
2. INVESTMENT INCOME
2025
2024
Dividends
Interest
13,448
80
13.528
12,733
72
12 805
3. CHARITABLE ACTIVITIES
Direct
Costs
Support costs
Total
2025
Olhgr charitable activities
7,412
COMPARA TIVES 2024
Other charitable activities
10,000
10,ooD
2,160
12,160
Suppx)rt Costs have been allocated based on the Direct Costs.
4. OTHER CHARITABLE ACTIVITIES
2025
2024
Grants to ellend Congress
Grants lo attend PSC Meellng
Writing competition prize
Grant lo Taxation workshop
2,000
5,000
500
3,000
1,500
3,000
10

Intomatlonal Flscal Association UK Congress Trust
Notes to the Flnanclal Statements
FOY the Year Ended 31 Dec&mber 2025
S. SUPPORT COSTS
2025
2024
Independent ExaminerlAuditors' remuneration
Bank charges
2,350
62
2,100
60
2,412
2.160
Governance costs included in Support Costs amounts to £2,35012024.' £2,100),
6. TRUSTEES, REMUNERATION ANO BENEFITS
There were no Trustees, remuneration or other benefits for the year ended 31 December 2025 nor for
the year ended 31 December 2024.
There were no Trustees, expenses paid for the year ended 31 December 2025 nor for the yeer ended
31 December 2024.
7. STAFF COSTS
There were no staff costs for the years ended 31 December 2025 or for 31 December 2024.
8. INVESTMENTS
2025
2024
LISTED INVESTMENTS
Market value brought fo¢ward at 1 Janlfary
Additions
Disposals
Realised gainslllossesl
Unrealised gainslllossesl
229,131
34,911
134,9111
11981
34,577
225,194
3,937
Market value carried forward al 31
De￿rnber
263,510
229,131
Investments at market value compri$ed'.
UKequities
UK fixed interest
263,510
194,022
35,109
263 510
229 131
The￿ were no investment assets outside the UK.

International Fls¢al Associatlon UK Congress Trust
Notes to the Flnancial Statements
For the Yoar Ended 310gcen7ber 2025
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2026
2024
Accruals
5.350
5,350
2,100
10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Gonèral fvnd
Deslgnated
fund
Total
2025
Investments
Current assets
Current liabilili8s
263,510
46,305
263,510
46.305
5,350
304 465
304 465
COMPARA TIVES 2024
General fund
Deslgnated
fund
Total
2024
Investments
Current assets
Current liabilities
229,131
36,939
229,131
36,939
263 970
263,970
12

International Flscal Assoclatlon UK Congre88 Trust
Notes to the Financial Statements
For the Year Ended 31 De¢ember 2025
11. MOVEMENT IN FUNDS
Ngt
movgments
In funds
At1.1.25
At 31.12.26
General fund
Designated fund
263,970
40,495
304,465
Total UnrestriGled fund
263,970
304 465
COMPARAfivES 2024
Net
movemonts
in funds
At 1.1.24
At 31.12.24
General fund
DeS￿nated fund
259,388
4,582
263,970
Total Unreslricled fund
259.388
263 970
12. RELATED PARTY TRANSACTIONS
There were no related party transactions during the year
13. GOING CONCERN
Th9re has been no material change in the Trust's financial position since the balance sheet dale, thus the
going concern basis of accounting has been adopted in preparing the financial slalements.
13