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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

Practical guidance, commentary and support on the taxation of business, including: capital allowances, entrepreneurs relief and corporation tax, as well as the taxation of partnerships, the self-employed and charities. 

Income tax basis periods - all change from 2023

April 2023 will bring a major shake-up of the rules dictating when trading profits of unincorporated businesses are subject to income tax. Emma Rawson, ATT Technical Officer at Bloomsbury Professional Online, explores the changes and explains what steps can be taken now.

DAC 6: EU tax disclosure

Support and guidance on taxation under the devolved governments of the UK; Northern Ireland, Scotland and Wales

Tax news in brief 18 January 2023

Highlights from the broader tax news for the week ending 18 January 2023, including: Finance Act Royal Assent; Agent Maintainer Team; ATED revaluations; changes to HMRC statistics publications; and administration of Scottish income tax.

Tax news in brief 21 December 2022

Highlights from the broader tax news for the week ending 21 December 2022, including: Spring Budget date announcement; the Scottish budget 2023-24; marginal relief calculator; spotting payroll company fraud; alcohol duty freeze extension; and taxation of transferred basic life assurance and general annuity business.

Practical guidance, commentary and support on employment taxation, including: benefits and expenses, company car tax, national insurance, PAYE and real-time information, and the taxation of intermediaries.
Expert commentary and practical guidance from ICAEW related to international taxation regimes.

Making the most of capital losses

The end of the tax year is approaching. A reduction to the capital gains tax annual exempt amount is imminent. This may be a good time for taxpayers to take stock of available capital losses, and ensure they have been claimed, says Mei Lim Cooper.

Making tax digital

Reflections on the MTD ITSA deferral

The impact of the December 2022 announcement that the introduction of Making Tax Digital income tax self assessment (MTD ITSA) is being delayed (again) and phased is starting to sink in. Caroline Miskin shares her thoughts on how policy and implementation should develop.

Expert commentary and practical guidance from ICAEW related to personal taxation, covering areas including: capital gains tax, income tax, inheritance tax, pensions, residence and domicile, savings and investments and trusts

Making the most of capital losses

The end of the tax year is approaching. A reduction to the capital gains tax annual exempt amount is imminent. This may be a good time for taxpayers to take stock of available capital losses, and ensure they have been claimed, says Mei Lim Cooper.

Professional standards

Trust Registration Service extension narrowed

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.

CCAB anti-money laundering guidance

In March 2018, CCAB (The Consultative Committee of Accounting Bodies) published Anti-Money Laundering Guidance for the Accountancy Sector. It is aimed at all entities providing audit, accountancy, tax advisory, insolvency or related services such as trust and company services, by way of business.

Engagement letters helpsheet

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.

Expert commentary and practical guidance from ICAEW related to the taxation of property in the UK regime, covering areas such as: ATED (annual tax on enveloped dwellings), business rates and stamp duty land tax. 

Tax news in brief 18 January 2023

Highlights from the broader tax news for the week ending 18 January 2023, including: Finance Act Royal Assent; Agent Maintainer Team; ATED revaluations; changes to HMRC statistics publications; and administration of Scottish income tax.

Expert commentary and practical guidance from ICAEW related to stamp duty land tax in the UK regime. 
Support for agents on the day-to-day practicalities of tax administration with support on HMRC contacts, filing tax returns and making complaints.
Expert commentary and practical guidance from ICAEW related to tax compliance, as defined by HMRC. Support on appeals and investigations, avoidance, evasion and penalties.

Faculty news - February 2023

Frank Haskew discusses ICAEW’s representations to the government ahead of the Budget, HMRC service standards and the Tax Faculty’s wider consultation and representational work.

ICAEW works to support tax reform

TAXline: March 2017

In this issue of the Tax Faculty's monthly magazine: Lindsey Wicks provides a summary of the tax changes coming into force in April 2017; Anita Monteith continues her examination of taxation and the gig economy; and Robert Lilly crop explains how to appeal business rates increases as a result of the new property valuation list.

Expert commentary and practical guidance from ICAEW related to VAT under the UK tax regime. 

New penalty system for late VAT returns

FAQ on a client who is behind with both submitting and paying his VAT returns and not able to pay VAT due for the 12/22 VAT period, thus incurring a default surcharge. It looks at what will happen if he does not submit and/or pay his VAT return for 03/23 on time.