Finance Bill’s impact on tax advisers

In January, ICAEW has been engaging with policymakers across the political spectrum on the Finance Bill 2025-26.

Chief Policy and Communications Officer Iain Wright and Head of Taxation Strategy Frank Haskew met with Exchequer Secretary to the Treasury Dan Tomlinson. The group discussed ICAEW’s proposed solutions to address the institute’s significant concerns about measures in the Finance Bill affecting tax advisers.

The Minister was eager to work collaboratively with ICAEW towards ensuring that policy objectives are met in an effective and proportionate manner, and conversations are set to continue between officials and ICAEW’s Tax Faculty.

Separately, Wright and Haskew also met with Liberal Democrat MP Martin Wrigley to discuss the issue, ahead of Wrigley’s inclusion as part of the Public Bill Committee that will consider the legislation.

ICAEW’s Tax Faculty also prepared briefings on measures in the Bill relating to agricultural property relief, business property relief and inheritance tax on pensions. These were distributed to a wide range of stakeholders, including ministers, opposition MPs, members of relevant committees, ICAEW members and interested backbenchers.

As a result, ICAEW was mentioned by Chief Secretary to the Treasury Spokesperson Charlie Maynard (a Liberal Democrat MP), who highlighted our concerns around the administrative burdens associated with asset valuation and calculation of potential liabilities, even if there is no tax to pay.

Liberal Democrat event

Chartered Accountants’ Hall served as the venue for a Liberal Democrat event focused on the party’s proposals relating to accident and emergency services.

ICAEW Chief Executive Alan Vallance introduced the event before speeches by Helen Morgan, Health and Social Care Spokesperson and ICAEW member, and Sir Ed Davey, Leader of the Liberal Democrats.

Latest Business Confidence Monitor

ICAEW’s Q4 2025 Business Confidence Monitor revealed a sixth consecutive decline in business sentiment, with confidence in negative double-digit territory for the first time in three years amid unprecedented fears over the tax burden.

The survey results – as well as a link to ICAEW’s recommendations on how to boost growth – were shared with ministers, opposition MPs, select committees, ICAEW members in parliament, interested backbenchers and advisers.

Civil Society Minister speaks at ICAEW Charity Conference

ICAEW’s 2026 Charity Conference featured a keynote address from the Minister for Sport, Media, Civil Society and Youth, Stephanie Peacock. Her speech focused on how the Civil Society Covenant will reset the relationship between government and civil society.

The virtual event, which can now be accessed on demand, also offers key insights on accounting, governance and taxation updates affecting the charity sector.

Pension Schemes Bill debate

This month, also saw ICAEW referenced in a committee stage debate on the Pension Schemes Bill in the House of Lords.

Baroness Bowles mentioned the Corporate Finance Faculty’s 2020 report, Fair Value Measurement by Listed Private Equity Funds, which notes that listed funds provide observable market prices for benchmarking unlisted investments.

Baroness Bowles expressed reservations about the Pension Scheme Bill’s approach to value for money because it excludes such vehicles (which improve transparency, price discovery and risk control) when pension schemes are increasingly being steered towards more private assets.