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.
On 22 November 2023, Chancellor Jeremy Hunt delivered the Autumn Statement. Read analysis from ICAEW's Tax Faculty.
Frank Haskew, ICAEW’s Head of Taxation Strategy, reflects on a busy 2023 and looks forward to the year ahead.
Economic conditions remain challenging despite a dramatic drop in inflation and a positive Autumn Statement. ICAEW’s Economies Director Suren Thiru discusses the implications.
Frank Haskew reports on the Hardman Lecture, Autumn Statement and Making Tax Digital.
Frank Haskew, ICAEW’s Head of Taxation Strategy, reflects on a busy 2023 and looks forward to the year ahead.
Nick Parker reports on developments shared at a two-day conference in Helsinki, hosted by CFE Tax Advisers Europe.
James Moore describes the use of an earn-out in M&A transactions and highlights the risk of reclassification as earnings.
Ed Saltmarsh examines whether Christmas confectionery should be subject to VAT.
4 January 2021: HMRC has confirmed that the UK will no longer be applying DAC 6 in its entirety following conclusion of the Free Trade Agreement with the EU. Only arrangements that would have fallen within Category D of DAC 6 will now need to be reported, in line with the OECD’s mandatory disclosure rules.
ICAEW’s Tax Faculty explains why all ICAEW members need to be alert to their potential reporting obligations. Highlighting common misconceptions and answering frequently asked questions about the regime.
An introduction to DAC6 and the OECD Mandatory Disclosure Regimes in the context of UK reporting.
Investment zones were refocused at the Spring Budget 2023. They are intended to grow the economy by focusing on places with significant unmet productivity potential and building on their existing strengths. How do they compare to freeports?
The differences between how and when the higher rates apply to residential property purchases in England and Northern Ireland, Scotland and Wales go beyond the rates charged. Lindsey Wicks highlights some key variations alongside planned changes in Scotland.
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.
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.
HMRC has published guidelines to help organisations and contractors involved in off-payroll working (OPW) / IR35 understand what HMRC considers good practice.
ICAEW’s Tax Faculty highlights the key measures included in the Autumn Finance Bill and the NIC Bill.
ICAEW’s Tax Faculty scans the Autumn Statement documents for other tax-related announcements. Various tax measures can be found in the Overview of tax legislation and rates, the Autumn Statement, and updated Tax information and impact notes.
Nick Parker reports on developments shared at a two-day conference in Helsinki, hosted by CFE Tax Advisers Europe.
The OECD seeks to provide clarity on what constitutes a permanent establishment for activities in connection with the exploration or exploitation of extractible natural resources.
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.
Frank Haskew reports on the Hardman Lecture, Autumn Statement and Making Tax Digital.
This month’s top stories include a raft of Autumn Statement measures; HMRC issues its guidelines for compliance on what qualifies as R&D for tax purposes; and tips for returns for deceased individuals and estates.
HMRC has lost sight of needing to put taxpayers at the heart of changes to the tax system, warns PAC.
The government has missed the opportunity to seriously reconsider its MTD ITSA policy. The decision on mandating MTD for the self-employed and landlords with turnover below £30,000 is to remain under review.
James Moore describes the use of an earn-out in M&A transactions and highlights the risk of reclassification as earnings.
A letter is being sent to over 500 agents asking them to check whether all sales of clients in the hot food sector are being recognised for VAT, income tax and corporation tax purposes.
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.
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.
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.
PCRT sets out the principles and standards of behaviour that all members, affiliates and students must follow in their tax work.
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.
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.
James Moore describes the use of an earn-out in M&A transactions and highlights the risk of reclassification as earnings.
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.
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.
James Moore describes the use of an earn-out in M&A transactions and highlights the risk of reclassification as earnings.
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.
HMRC contact information, including telephone numbers, online options and postal addresses, together with tips.
ICAEW’s Tax Faculty provides links to help practitioners find the latest tax rates, allowance and reliefs.
This guide to help you through the HMRC complaits process.
This guidance summarises the different methods of paying tax to HMRC.
We offer instant, full text access to hundreds of eBook titles on key topics. Browse eBooks on tax compliance.
On 22 November 2023, Chancellor Jeremy Hunt delivered the Autumn Statement. Read analysis from ICAEW's Tax Faculty.
Frank Haskew reports on the Hardman Lecture, Autumn Statement and Making Tax Digital.
A letter is being sent to over 500 agents asking them to check whether all sales of clients in the hot food sector are being recognised for VAT, income tax and corporation tax purposes.
Is hypothecation - assigning particular tax revenues to a specific public policy goal - a good thing? Read Ian Young's article presenting the facts and then decide.
How can we more closely align income tax and NIC, and why is this important?
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.
Taxpayers building their own home can now claim back VAT incurred through an online service.
Nick Parker reports on developments shared at a two-day conference in Helsinki, hosted by CFE Tax Advisers Europe.
Ed Saltmarsh examines whether Christmas confectionery should be subject to VAT.