If the UK’s tax system is to grasp the opportunities of digitalisation and simplification, it needs to consider moving the start of the tax year. ICAEW Insights spoke to Dr Brian Keegan from Chartered Accountants Ireland about how the Irish navigated the change in 2002.
Tax news from April 2021
Latest news on the UK tax system, brought to you by the ICAEW Tax Faculty.
ICAEW’s Tax Faculty has written to MPs highlighting that assets purchased with a view to leasing to third parties do not qualify for the new super-deduction or special rate first- year allowance for capital allowances purposes.
Can President Biden’s new Made in America Tax Plan halt the race to the bottom for international corporate tax rates? ICAEW’s Tax Faculty outlines the proposals.
The stakeholder group responsible for inputting into HMRC’s Charter Annual Report is looking for feedback on how HMRC has performed during 2020/21.
ICAEW’s Technical Advisory Services has updated its support for practitioners on client engagement letters relating to tax services. The Tax Faculty highlight the key changes.
Employees working from home due to the coronavirus pandemic can continue to claim tax relief on costs not reimbursed by their employer, but a new claim will need to be made for the 2021/22 tax year, HMRC has confirmed.
With the pandemic increasing pressure on public finances, could this prompt overdue discussions on tax reform? ICAEW's Head of Tax Frank Haskew and independent adviser Martin Wheatcroft reflect on recent announcements and challenges facing the Chancellor.
Highlights from the broader tax news week ending 7 April, which includes confusion over when the rises to national minimum wage and living wage rises take effect; and additional guidance on R&D claims.
Eligibility for the fourth and fifth SEISS grants will be assessed using additional evidence not used for the previous grants. Join the Tax Faculty’s Caroline Miskin for a free webinar to find out more
Some importers have experienced issues with access to and the accuracy of their monthly statements for January and February 2021. HMRC has confirmed it will not charge a penalty for errors in VAT returns provided taxpayers take reasonable care and follow guidance.