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Tax

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.

In this section

Autumn Budget 2017 Report

Technical managers from ICAEW Tax Faculty provide a summary of all the new announcements relating to tax in the Autumn Budget of 2017, covering: business and company tax; personal and employment taxes; pensions and savings; VAT and duties; avoidance, evasion and compliance.

Finance (No.2) Act 2017

The Finance (No.2) Act 2017 received Royal Assent on 16 November 2017. It was originally introduced to Parliament as Finance Bill (No.2) 2017. On this page you can find guidance, parliamentary papers, representations and other commentary on the Bill's progress into law.

TAXguide 06/17- Budget Report

Technical managers from ICAEW Tax Faculty provide a summary of all the new announcements relating to tax in the Spring Budget of 2017, covering: Making Tax Digital; business and company tax; personal and employment taxes; pensions and savings; VAT and duties; avoidance, evasion and compliance.

Everybody should have a terrier on the farm

Terriers come in two types. There are small hairy ones that are ideal for keeping down the rats in the barn, but for the purposes of this article, we will be concentrating on the other sort – according to the Oxford English Dictionary, “A register of the lands belonging to a landowner, originally including a list of tenants, their holdings, and the rents paid, later consisting of a description of the acreage and boundaries of the property”.

TAXguide 12/18: Charities tax

In this TAXguide Paul Bater discusses developments concerning the direct and indirect tax treatment of charitable and other non-profit making organisations, including the latest in charitable giving.

Scottish tax changes for 2018/19

Joanne Walker looks at the income tax aspects of the Scottish Budget for 2018/19, and what they mean for Scottish taxpayers, including the effect on tax rates and liabilities, interactions with the UK tax system and PAYE.

TAXtalk June 2018

This month the panel discusses IR35, employee benefit trusts and options available to those affected by the new disguised remuneration rules.

Global Accounting Alliance Tax Director Group meeting in Washington, DC

Ian Young of the Tax Faculty reports on an international tax summit and the US Tax Reform Act. The Tax Director Group of the Global Accounting Alliance met in April in Washington, DC to meet with the US Treasury, the IRS, the Finance Committee of the Senate and the Joint Committee of Taxation, as well as some people from the American Institute of Certified Public Accountants

Offshore compliance risks

Offshore compliance has the highest profile in HMRC’s efforts to tackle tax evasion and avoidance. Higher penalties, new powers and quantities of new data mean that HMRC has some impressive tools in its toolbox.

The latest updates on Making Tax Digital

Keeping up with Making Tax Digital can be difficult, especially when that includes Making Tax Digital for individuals and for business. Caroline Miskin of the ICAEW Tax Faculty guides members on the latest updates and what you should do to prepare.

The Tax Faculty 2018 AGM

The Tax Faculty’s 27th Annual General Meeting was held in the Great Hall at Chartered Accountants’ Hall on Friday 11 May 2018 at 12:30 and was attended by 26 members. Reported by Chrissie O’Connor.

The latest updates on Making Tax Digital

Keeping up with Making Tax Digital can be difficult, especially when that includes Making Tax Digital for individuals and for business. Caroline Miskin of the ICAEW Tax Faculty guides members on the latest updates and what you should do to prepare.

TAXguide 13/18: IHT on overseas property

Finance (No 2) Act 2017 introduced significant changes to the taxation of foreign domiciliaries. In TAXguide 13/18 ICAEW, STEP, the CIOT and the Law Society have published questions and draft suggested answers to highlight and consider areas of uncertainty in the statutory provisions covering the extension of inheritance tax (IHT). Read a summary here and download the full guide.

TAXguide 01/17: Let property

This TAXguide provides guidance on the tax issues connected with let property from the point of view of the landlord. It concentrates on residential property and is aimed at practitioners who are advising individuals who have bought property as an investment, rather than commercial property development businesses. Read a summary here, Tax Faculty members can download the full guide.

Professional standards

Professional conduct in relation to taxation (PCRT)

PCRT sets out the principles and standards of behaviour that all members, affiliates and students must follow in their tax work. The latest version came into effect on 1 March 2017 and has now been republished in a new digital format designed to make it easier to navigate than the existing paper version.

Engagement letters and privacy notices

This page provides a series of sample wordings to help you draft engagement letters. ICAEW has developed guidance on what to include in engagement letters incorporating the requirements of GDPR.

TAXguide 13/18: IHT on overseas property

Finance (No 2) Act 2017 introduced significant changes to the taxation of foreign domiciliaries. In TAXguide 13/18 ICAEW, STEP, the CIOT and the Law Society have published questions and draft suggested answers to highlight and consider areas of uncertainty in the statutory provisions covering the extension of inheritance tax (IHT). Read a summary here and download the full guide.

Business rates: maintain, demolish, rebuild or refurbish?

As business rates in the UK, not least in London, become increasingly unpopular as a form of taxation, John Boulton highlights some of the issues raised in a recent ICAEW report, “Business rates: maintain, demolish, rebuild or refurbish?”

Property taxes update

Following on from our popular property taxes webinar in 2016 and 2017 we are running a follow up which will concentrate on let property, looking in particular at the different taxes affecting the buy to let property owners picking up on all the recent changes.

Reforming property taxes for business – what are the options?

Taxing business properties form an important part of the tax base for many countries, but they are often complex and in an increasingly online world can be irrelevant to an organisation’s turnover. The time has come to overhaul business property tax systems and here ICAEW outlines the options.

Reforming property taxes for business – what are the options?

Taxing business properties form an important part of the tax base for many countries, but they are often complex and in an increasingly online world can be irrelevant to an organisation’s turnover. The time has come to overhaul business property tax systems and here ICAEW outlines the options.