The Tax area has information and guidance on technical and practical tax matters. There are links to events, the latest tax news and the Tax Faculty’s publications, including helpsheets, webinars and Tax representations.
Our chart this week finds that the UK is ranking highly in the IMF’s latest five-year forecasts for general government net debt.
Public spend as a share of the economy must fall over the next five years to make the sums add up – a big challenge for the next government.
Slides accompanying the Tax Faculty Payroll and Rewards webinar, broadcast on 10 April 2024.
The Welsh government is consulting on several changes to land transaction tax, including the abolition of multiple dwellings relief.
This webinar from the Tax Faculty will run through the basics of the cash basis and what is changing from 6 April 2024
Highlights from the broader tax news for the week ending 10 April 2024, including: advance notification of disruption to HMRC services; advice for large businesses on contacting HMRC; and updated HMRC guidance on the process for claiming in-year refunds of CIS deductions.
HMRC is writing to community amateur sports clubs and asking them to check if they are still eligible to stay within the scheme.
HMRC has published additional and updated guidance on the new regime for R&D tax relief. The new regime is discussed in the Tax Faculty’s latest podcast.
HMRC has confirmed that the UK will no longer be applying DAC 6 in its entirety following conclusion of the Free Trade Agreement with the EU. Only arrangements that would have fallen within Category D of DAC 6 will now need to be reported, in line with the OECD’s mandatory disclosure rules.
ICAEW’s Tax Faculty explains why all ICAEW members need to be alert to their potential reporting obligations. Highlighting common misconceptions and answering frequently asked questions about the regime.
An introduction to DAC6 and the OECD Mandatory Disclosure Regimes in the context of UK reporting.
The Welsh government is consulting on several changes to land transaction tax, including the abolition of multiple dwellings relief.
LBTT is a tax applied to residential and commercial land and buildings transactions (including commercial properties and commercial leases) where a chargeable interest is acquired.
Highlights from the broader tax news for the week ending 31 January 2024, including: Finance Bill 2023-24 amendments; the administration of Scottish and Welsh income tax; changes to insolvency guidance for VAT; and updated HMRC guidance relating to collective investment vehicles.
ICAEW’s Tax Faculty has published a TAXguide on PAYE rates, thresholds and allowances, and produced a webinar on recent changes in employment taxes and related areas.
This webinar from the Tax Faculty will provide an update on all the recent and upcoming changes to payroll, rewards and employment taxes in 2024/25.
FAQ on the treatment of benefits in kind, where a business owner makes a company car, and company fuel card, available for the private use of his wife.
Patricia Mock and Sally Campbell, co-authors with Bill Dodwell of a recent Tax Law Review Committee discussion paper, consider a range of principles to help inform future tax policy.
HMRC is sending a further batch of one-to-many letters to taxpayers it suspects may have UK tax to pay on foreign income and gains.
Highlights from the broader tax news for the week ending 17 April 2024, including: how Labour intends to close the tax gap; a change to the form for reporting a residential property gain; and new HMRC guidance for employers on giving foreign tax relief.
This month’s top stories include Spring Budget announcements, HMRC halting the decision to restrict helplines, and more guidance on the lifetime allowance abolition.
The latest information and guidance on Making Tax Digital income tax self assessment (MTD ITSA) from the Tax Faculty.
HMRC is sending a further batch of one-to-many letters to taxpayers it suspects may have UK tax to pay on foreign income and gains.
Just five software products will be available at the launch of MTD ITSA private beta testing on 22 April.
HMRC has published additional guidance for pension scheme administrators on a range of issues, including the abolition of the lifetime allowance.
The latest information and guidance on Making Tax Digital income tax self assessment (MTD ITSA) from the Tax Faculty.
HMRC is sending a further batch of one-to-many letters to taxpayers it suspects may have UK tax to pay on foreign income and gains.
This webinar from the Tax Faculty will run through the basics of the cash basis and what is changing from 6 April 2024
28 July: Fewer trusts will be within the scope of the expansion of the Trust Registration Service (TRS) than originally proposed, but the 30-day deadline for new trust registrations and rules granting third-party access to data remain unchanged.
Guidance for those providing tax services in the United Kingdom, on the prevention of money laundering and the countering of terrorist financing.
PCRT sets out the principles and standards of behaviour that all members, affiliates and students must follow in their tax work.
Technical helpsheet providing sample wordings to help you draft engagement letters for a variety of typical engagements for both corporate and non-corporate clients. Includes full text and supplementary schedules.
The Welsh government is consulting on several changes to land transaction tax, including the abolition of multiple dwellings relief.
It seems a long time ago that the consultation on the taxation of environmental land management schemes was launched. The consultation period ended in June and, after what must have been considerable contemplation, a response was issued within the appendices to the March 2024 Budget.
This month’s top stories include Spring Budget announcements, HMRC halting the decision to restrict helplines, and more guidance on the lifetime allowance abolition.
In 2023, HMRC issued a letter stating that boiler upgrades did not constitute a repair. However, HMRC is now contacting affected taxpayers acknowledging that this advice was incorrect.
The Welsh government is consulting on several changes to land transaction tax, including the abolition of multiple dwellings relief.
LBTT is a tax applied to residential and commercial land and buildings transactions (including commercial properties and commercial leases) where a chargeable interest is acquired.
This month’s top stories include Spring Budget announcements, HMRC halting the decision to restrict helplines, and more guidance on the lifetime allowance abolition.
HMRC contact information, including telephone numbers, online options and postal addresses, together with tips.
ICAEW’s Tax Faculty provides links to help practitioners find the latest tax rates, allowance and reliefs.
This guide to help you through the HMRC complaits process.
This guidance summarises the different methods of paying tax to HMRC.
The latest information and guidance on Making Tax Digital income tax self assessment (MTD ITSA) from the Tax Faculty.
New policy solutions to problems facing the UK economy will be prosaic but important, Conservative Party Forum Chair John Penrose MP told a round table this week.
HMRC is sending a further batch of one-to-many letters to taxpayers it suspects may have UK tax to pay on foreign income and gains.
ICAEW’s Tax Faculty is encouraging businesses and agents to give their views on dealing with HMRC and managing recent and forthcoming tax changes.
Is hypothecation - assigning particular tax revenues to a specific public policy goal - a good thing? Read Ian Young's article presenting the facts and then decide.
How can we more closely align income tax and NIC, and why is this important?
Currently there is widespread concern that many businesses, particularly large multinational corporations, are not paying enough tax on their profits. This is a serious issue at a time when public finances are under strain. This ICAEW report highlights the tough choices faced by businesses and politicians in relation to corporate tax.
A new consultation on the VAT treatment of private hire vehicles was among a number of announcements made on tax administration and maintenance (TAM) day.
Highlights from the broader tax news for the week ending 17 April 2024, including: how Labour intends to close the tax gap; a change to the form for reporting a residential property gain; and new HMRC guidance for employers on giving foreign tax relief.
FAQ on what is the VAT liability of an opthalmologist's own Ltd company, when her services as a locum are supplied to another UK high street chain of opticians on a contractual basis.
Patricia Mock and Sally Campbell, co-authors with Bill Dodwell of a recent Tax Law Review Committee discussion paper, consider a range of principles to help inform future tax policy.