Tax Faculty
Find out more about the Tax Faculty and upcoming events. Faculty members can access exclusive content, including TAXline, TAXguides, webinars, representations and support schemes.
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.
Need to know
In this section
Budgets and legislation
Finance Act 2019
The Finance Act 2019 received Royal Assent on 12 February 2019. It was originally introduced to Parliament as Finance (No.3) Bill 2018. On this page you can find guidance, parliamentary papers, representations and other commentary on the Bill's progress into law.
Budget 2018 Report
Technical managers from ICAEW Tax Faculty provide a summary of all the new announcements relating to tax in the 2018 Budget.
The NHS, Brexit and more: TAXtalk Budget 2018
Two days after the 2018 Budget, Frank Haskew and Anita Monteith from the Tax Faculty, were joined by ICAEW's Public Sector Director Ross Campbell to discuss Philip Hammond's announcements.
ICAEW Rep 115/18: Budget Autumn 2018
ICAEW's Tax Faculty has responded to HM Treasury's invitation for comments ahead of the 2018 Budget. The response concludes that there should be no new policy initiatives on tax at this time. Attention should instead be given to enabling taxpayers easily to fulfil their obligations and to understand their entitlements. Coping with HMRC’s digital systems has been made more difficult by the number of policy changes.
Business tax
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.
Are fruit shrubs always zero rated
What are the rules and regulations according to HMRC?
Business tax update
The latest key tax rules and reliefs affecting business.
Capital allowances
This webinar provides illustrative examples and practical tips on how to maximise capital allowances and take advantage of the reliefs available.
Spring Statement 2019
Jane Moore rounds up the tax items from the Spring Statement 2019, including Making Tax Digital, structures and buildings allowance, tax avoidance and evasion, national minimum wage, apprenticeship levy and forthcoming papers over the rest of the year.
Devolved taxes
Support and guidance on taxation under the devolved governments of the UK; Northern Ireland, Scotland and Wales
SDLT payment window reduced
For transactions with an effective date falling on or after 1 March 2019, the due date for payment of the SDLT has changed to 14 days.
Scottish tax changes for 2018/19
Joanne Walker looks at the income tax aspects of the Scottish Budget for 2018/19, and what they mean for Scottish taxpayers, including the effect on tax rates and liabilities, interactions with the UK tax system and PAYE.
Addressing the tax challenges for 2018
Chairman of the Tax Faculty Carl Bayley looks to the tasks for the year ahead for the faculty.
Employment tax
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.
Change of tenant's status in tied accommodation
FAQ on whether accommodation provided by an employer becomes a taxable benefit. It was previously classed as a benefit in kind, but the former employee has been allowed to remain in the accommodation now that they have retired.
Business tax update
The latest key tax rules and reliefs affecting business.
Spring Statement 2019
Jane Moore rounds up the tax items from the Spring Statement 2019, including Making Tax Digital, structures and buildings allowance, tax avoidance and evasion, national minimum wage, apprenticeship levy and forthcoming papers over the rest of the year.
Tax treatment of low emission vehicles
Rebecca Cave explains the tax treatment of low emission vehicles. She details capital allowances, benefits-in-kind, the encouragement of hybrids, OpRA, leased cars, electric vans and the cost of charging – as well as the potential of free charging at work.
International taxes
Expert commentary and practical guidance from ICAEW related to international taxation regimes.
Spring Statement 2019
Jane Moore rounds up the tax items from the Spring Statement 2019, including Making Tax Digital, structures and buildings allowance, tax avoidance and evasion, national minimum wage, apprenticeship levy and forthcoming papers over the rest of the year.
How to tax the digital economy
Ian Young looks at developments in the digital economy – both in the UK and internationally.
TAXguide 03/19: Finance Act 2018 section 35 and schedule 10 – settlements anti-avoidance
This TAXguide has been prepared by committee members of STEP, ICAEW, the CIOT and the Law Society to highlight practical issues and uncertainties raised by Finance Act 2018 Schedule 10 (Settlements: Anti-avoidance, etc.).
Making tax digital
Business tax update
The latest key tax rules and reliefs affecting business.
TAXline News - April 2019
Frank Haskew, Head of the Tax Faculty, reports on recent developments at the Tax Faculty during April 2019.
Spring Statement 2019
Jane Moore rounds up the tax items from the Spring Statement 2019, including Making Tax Digital, structures and buildings allowance, tax avoidance and evasion, national minimum wage, apprenticeship levy and forthcoming papers over the rest of the year.
Reflecting on changes to the tax landscape
Rebecca Benneyworth considers some April changes that provide food for thought. She discusses, among other things, Making Tax Digital, increases in staff costs and the ‘sorry saga’ of the controversial loan charge legislation.
Personal tax
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
VAT zero rating on services carried out for a disabled customer
FAQ on whether a client, who is a central heating engineer, is correct in stating that work they carried out to install a new central heating system in the home of a disabled person is eligible for zero rating.
TAXguide 07/19: A Guide to Principal Private Residence relief
Questions around the tax treatment of someone’s principal private residence (PPR) arise with some frequency and all too often the answer is not as straightforward as might first appear. This guide considers the core rules, the traps and the key items to be aware of to help clients through this area of tax law.
Capital allowances
This webinar provides illustrative examples and practical tips on how to maximise capital allowances and take advantage of the reliefs available.
Professional standards
Professional conduct in relation to taxation (PCRT)
Professional Conduct in Relation to Taxation (PCRT) has been updated making it easier to navigate with a new digital structure. This edition is effective from 1 March 2019.
Engagement letters and privacy notices
ICAEW has developed guidance for practice firms on what to include in engagement letters. This page provides a series of sample wordings to help you draft your own engagement letters.
Avoidance and Professional Conduct in Relation to Tax
First broadcast 01 December 2016 - ICAEW deputy president Nick Parker, ICAEW Head of Tax Frank Haskew guide you through the changes to PCRT that came into effect on 1 March 2017.
Property tax
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.
Its different in Scotland Part 2
Andrew Ayre looks at the effects of The Scottish Parliament's ability to vary the rate of income tax.
TAXguide 07/19: A Guide to Principal Private Residence relief
Questions around the tax treatment of someone’s principal private residence (PPR) arise with some frequency and all too often the answer is not as straightforward as might first appear. This guide considers the core rules, the traps and the key items to be aware of to help clients through this area of tax law.
Spring Statement 2019
Jane Moore rounds up the tax items from the Spring Statement 2019, including Making Tax Digital, structures and buildings allowance, tax avoidance and evasion, national minimum wage, apprenticeship levy and forthcoming papers over the rest of the year.
TOGC in a property that is partially-let
FAQ on whether the sale of a property can be classed as a transfer of a business as a going concern (TOGC) for VAT purposes, as the occupier, who is buying the premises, rents out part of the building to a third party.
Stamp duty land tax
Expert commentary and practical guidance from ICAEW related to stamp duty land tax in the UK regime.
Budget 2018: Avoidance, evasion and compliance
ICAEW Tax Faculty provides analysis of the announcements relating to tax avoidance, evasion and compliance in the 2018 Budget.
Budget 2018: Stamp taxes
ICAEW Tax Faculty provides analysis of the announcements relating to stamp taxes in the Budget 2018
Trust Registration Service: where do we stand?
Sue Moore, Tax Faculty technical manager with responsibility for private client matters, provides a progress report, explaining what practitioners need to know, on the new Trust Registration Service that was introduced in 2017
Tax administration
Expert commentary and practical guidance from ICAEW related to the administration of the UK tax regime, covering agents work with HMRC and tax returns, as well as the compliance issues, including appeals and investigations, avoidance, evasion, money laundering and penalties.
HMRC contact information
HMRC contact information, including telephone numbers, online options and postal addresses, together with tips.
Tax rates, allowances and reliefs
This guidance provides a summary of key tax rates, allowances and reliefs for 2017/18, 2018/19 and 2019/20.
Practical points 2018 - Tax administration
Guidance from ICAEW's Tax Faculty for practitioners on the latest developments in policy, practice and legislation related to the administration of tax.
Making complaints to HMRC
This guide to help you through the HMRC complaits process.
ICAEW works to support tax reform
Reforming property taxes for business – what are the options?
Taxing business properties form an important part of the tax base for many countries, but they are often complex and in an increasingly online world can be irrelevant to an organisation’s turnover. The time has come to overhaul business property tax systems and here ICAEW outlines the options.
Hypothecation of taxes – a cure to austerity?
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.
The sharing economy – labour and the gig economy
Anita Monteith of ICAEW’s Tax Faculty explains how to account for trades in the sharing economy, specifically how tax and national insurance work in the gig economy
Expert commentary and practical guidance from ICAEW related to VAT under the UK tax regime.
VAT liability of flooring materials used in new-build property
FAQ on whether a flooring contractor should zero rate a whole invoice for materials used to fit out a new build dwelling, which included a mixture of hardwood flooring, carpets and ceramic floor tiles.
TAXbite: MTD - who does it apply to and when does it start?
This TAXbite explains which businesses are in scope for MTD for VAT and when they must comply with the rules.
UK VAT implications of Brexit
Our guide is intended to help you understand how Brexit might impact on the UK’s existing VAT rules.
Business VAT update 2019
Neil Warren guides us through the labyrinth of VAT changes since April 2018.