Tax Round-up 2020
This webinar from the Tax Faculty provides a round up of all the measures that are under review and subject to consultation, and how the faculty will be responding.
Evasion
Expert commentary and practical guidance from ICAEW related to tax evasion and ensuring compliance with UK tax regime.
Need to know
In this section
Features and articles
Tax news in brief 17 April 2024
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.
Government aims to raise tax advice standards
The government is exploring options to raise standards in the tax advice market through a strengthened regulatory framework.
Level of service provided by HMRC at “all-time low” says PAC
PAC has recommended more resources for HMRC so that it can meet its service standards. It has found that HMRC’s approach to off-payroll working is deterring legitimate economic activity.
House of Lords reports on Finance Bill measures
House of Lords agrees with the Tax Faculty recommendation that the start date for merged scheme for R&D tax relief should be delayed.
HMRC prompts disclosure of dividend income
HMRC has written to company owners who it believes may have failed to declare dividend income.
What’s in store for 2024?
Lindsey Wicks, Caroline Miskin and Frank Haskew share their thoughts on how the general election may shape tax policy, the outlook for HMRC’s service standards and what we might learn about regulation of the tax profession.
ICAEW briefs MPs on key clauses ahead of Finance Bill debates
MPs are scheduled to start debating Finance Bill 2023-24 on 10 January. ICAEW has produced briefings on R&D, pensions, provision of additional data and promoters of tax avoidance.
Hardman Lecture takes aim at UK’s biggest tax failings
Campaigner Dan Neidle rounds on key features of the tax system that are bad for productivity, inefficient – and inhumane.
Webinars and recordings
Charity challenges, non-financial misconduct and tax fraud
In this episode of ICAEW Insights, we look at the issues facing charities in the UK, the increasing focus of regulators, investors and stakeholders on non-financial misconduct and what’s new with tax.
Tax Administration Framework Review - Earlier payments of income and corporation taxes
This webinar from the Tax Faculty explores the call for evidence on earlier payment of income and corporation taxes.
Bloomsbury Accounting and Tax Service
Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising around 80 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.
Self-assessment
A full chapter providing practical guidance on company tax returns and dealing with HMRC.
HMRC powers
A full chapter providing practical guidance on HMRC powers, covering topics such as appeal procedures, documents and record keeping, time limits for raising assessments, HMRC correction of tax returns and HMRC action to counter tax avoidance schemes.
Serial tax avoiders
A chapter on HMRC powers in relation to serial tax avoiders.
Disclosure of tax avoidance schemes
A chapter on HMRC powers in relation to disclosure of tax avoidance schemes (DOTAS) rules.
Penalties
A chapter on HMRC powers in relation to tax penalties.
Guide to taxpayers’ rights and HMRC powers
Guide to the growing breadth of HMRC powers and the increasingly complex penalty regime for non-compliance.
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eBooks
The Library & Information Service provides a collection of eBooks as a benefit of membership. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact library@icaew.com.
Mandatory disclosure rules
Contains 39 national reports from experts in international tax law with strong knowledge in the OECD/G20 BEPS Project and EU developments where they discuss their countries' objectives and experiences regarding the impact and implementation of MDR.
Anti-avoidance
A section providing an overview of the UK's anti-avoidance rules relating to corporate taxation. Covers the general anti-abuse rule (GAAR), disclosure of tax avoidance schemes (DOTAS) rules, Pillar Two, transfer pricing legislation, limitations on interest deductibility, the controlled foreign company (CFC) charge, and the legislation on hybrid mismatches.
Self-assessment enquiries, discovery assessments and investigations
Outlines the difference between HMRC enquiries under self-assessment and discovery assessments. The chapter also addresses settlements, penalties and criminal proceedings and lists the main criminal offences related to tax.
Anti-avoidance
A chapter summarising HMRC's present strategy with regard to tax avoidance. Includes an overview of the various rules and legislation in this area.
Failure to prevent the facilitation of tax evasion under the Criminal Finances Act 2017
A short section on the corporate offence of failing to prevent the facilitation of tax evasion, as introduced in the Criminal Finances Act 2017 (CFA 2017). This requires accountancy firms to implement reasonable prevention procedures to mitigate the risk of facilitating tax evasion.
Taxes evaded, avoided and reformed
An overview of tax evasion and avoidance methods in the UK, with reference to some high-profile tax tribunal cases where legal avoidance schemes were exploited in ways not originally intended by the government or HM Revenue & Customs. The author also suggests some tax reforms that might lead to a 'fairer' system.
Tax havens today: the benefits and pitfalls of banking and investing offshore
How to reduce taxes by moving your business offshore.
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Representations
ICAEW REP 004-24 Finance Bill 2023-24 - Clauses 32 & 33: Promoters of tax avoidance
A briefing for MPs on the Finance Bill by ICAEW Tax Faculty.
ICAEW REP 100-23 Draft Finance Bill 2023-24
ICAEW welcomes the opportunity to provide evidence on the Draft Finance Bill 2023-24 to the House of Lords Economic Affairs Finance Bill Sub-Committee.
ICAEW REP 107-23 Autumn Statement 2023
A representation dated 13 October 2023 to a consultation published by HM Treasury ahead of the Autumn Statement taking place on 22 November 2023.
ICAEW REP 093-23 Tougher consequences for promoters of tax avoidance
A representation dated 12 September 2023 to a consultation published by HMRC on 27 April 2023.