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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

Faculty news: December 2023

Frank Haskew reports on the Hardman Lecture, Autumn Statement and Making Tax Digital.

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. 

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 29 March 2023

Highlights from the broader tax news for the week ending 29 March 2023, including: VAT penalty notices; the removal of the lifetime allowance; making MDR reports; Welsh Freeports; LBTT relief for green freeports; and an LBTT webinar series.

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.

Find payroll software

GOV.UK page on HMRC-recognised software. HMRC tests payroll software to check it can report PAYE information online and in real time. HMRC provides free <a href="https://www.gov.uk/basic-paye-tools">Basic PAYE Tools software</a> for businesses with fewer than 10 employees.

Expert commentary and practical guidance from ICAEW related to international taxation regimes.

Tolley's international tax planning, 2023-24

This book sets the UK tax system in the context of international treaties and the international legal framework, examining issues such as permanent establishment, hybrids, EU law, thin capitalisation, interest deductions, withholding taxes, transfer pricing and information exchange. It includes a summary of the OECD's work on Pillar One and Pillar Two, along with a detailed treatment of the UK's implementation of Pillar Two. Examples, tables and checklists are included to aid understanding.

Making tax digital

Faculty news: December 2023

Frank Haskew reports on the Hardman Lecture, Autumn Statement and Making Tax Digital.

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

The Autumn Statement: What’s in it for charities?

While the Autumn Statement made little explicit reference to charities, its measures will be felt by the charity sector, whether that’s in increased wage bills due to the uplifted National Living Wage or the impact on demand from those that rely on charities’ services. Lourens Du Plessis, member of the Charity Community’s Advisory Group and Managing Director of Church and Charity Professional Services at Stewardship, shares his reaction to the Chancellor’s Autumn Statement.

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. 

SDLT and sole ownership

FAQ on whether a married couple, who live jointly in a house owned solely in the wife's name, can avoid paying the higher rates of stamp duty land tax, if they buy their new property solely in the husbands name, whilst keeping the original property to rent out.

Emerging opportunities and pitfalls in real estate tax

Guy Richardson and Mark Fielden, from the real estate and construction team at Moore Kingston Smith, recently presented an ICAEW webinar on “Emerging opportunities and current pitfalls in the tax regime for property investment and trading”. In this article we want to accentuate some of the practical tax complexities discussed in the webinar. Subsequently, in light of the Chancellor of the Exchequer’s recent Autumn Statement on 22 November 2023, we want to explore how current tax policy continues to create uncertainty in the real estate and construction sector.

Expert commentary and practical guidance from ICAEW related to stamp duty land tax in the UK regime. 

SDLT and sole ownership

FAQ on whether a married couple, who live jointly in a house owned solely in the wife's name, can avoid paying the higher rates of stamp duty land tax, if they buy their new property solely in the husbands name, whilst keeping the original property to rent out.

Tax cut possible, says IFS expert

Despite Chancellor Jeremy Hunt saying it will be “virtually impossible” to cut taxes until the economic outlook improves, the deputy director and head of tax at the Institute for Fiscal Studies says it remains possible for individual taxes to be cut as early as the Autumn Statement. Writing in the Daily Telegraph, Helen Miller said individual measures could be considered, such as reforming stamp duty, council tax, or increasing taxes on capital gains.

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: December 2023

Frank Haskew reports on the Hardman Lecture, Autumn Statement and Making Tax Digital.

ICAEW works to support tax reform

Taxing corporate profits: hard choices

Currently there is widespread concern that many businesses, particularly large multinational corporations, are not paying enough tax on their profits. This is a serious issue at a time when public finances are under strain. This ICAEW report highlights the tough choices faced by businesses and politicians in relation to corporate tax.

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