Practical points: business tax 2024
Every month, the Tax Faculty publishes short, practical pieces of guidance to help agents and practitioners in their day-to-day work.
Off-payroll working and IR35
Off-payroll working, commonly referred to as "IR35", is the name given to the anti-avoidance legislation that ensures individuals providing services through an intermediary company are taxed correctly. Here you will find practical guidance, webinars and other resources related to IR35 and the taxation of intermediaries.
Corporation tax
Government consults on new tax clearance process
- Article
- 15 Apr 2025
As part of its corporation tax roadmap, the government is consulting on a new process that would give major investment projects increased tax certainty in advance.
HMRC increases interest rates for tax paid late
- Article
- 31 Mar 2025
As first announced at the Autumn Budget 2024, the interest rate charged by HMRC for late payments of most taxes and duties will increase from 7% to 8.5% from 6 April 2025.
Taxation of partnerships: a practical guide, 3rd ed.
- Library book
- 07 Mar 2025
A practical guide to the tax issues and principles which apply to different types of partnership, including LLPs, limited partnerships and partnerships with corporate members. It covers all the key taxes – income tax, capital gains tax, SDLT, corporation tax – as well as complex areas such as mergers and demergers, incorporations, and losses.
Exclusive
Making a business acquisition
- eBook chapter
- 01 Mar 2025
Advice on the typical process for making a business acquisition, written for anyone who advises or runs a family or owner-managed company. Includes an overview of agreeing outline terms, carrying out a due diligence investigation and the tax due diligence process.
Employment taxes
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.
Latest articles
Tax news in brief 16 April 2025
- Article
- 15 Apr 2025
Highlights from the broader tax news for the week ending 16 April 2025, including: an update from the government on the proposed consultation on pre-development costs; and new guidance from HMRC on the off-payroll working rules.
Questions about business taxation
- Helpsheets and support
- 14 Apr 2025
Find answers to key questions relating to tax issues for your business.
Tax news in brief 9 April 2025
- Article
- 09 Apr 2025
Highlights from the broader tax news for the week ending 9 April 2025, including: an update on legislation to enact changes announced at the Autumn Statement 2024; and new guidance for agents on Making Tax Digital (MTD) for income tax.
National Insurance
Tax news in brief 9 April 2025
- Article
- 09 Apr 2025
Highlights from the broader tax news for the week ending 9 April 2025, including: an update on legislation to enact changes announced at the Autumn Statement 2024; and new guidance for agents on Making Tax Digital (MTD) for income tax.
Economic update: key trends ahead of the Spring Statement
- Article
- 24 Mar 2025
The UK economy endured a poor start to 2025 amid January’s financial market turbulence. ICAEW’s Economies Director Suren Thiru discusses the implications.
Public sector finances disappoint ahead of Spring Statement
- Article
- 24 Mar 2025
The shortfall between receipts and public spending reached £132bn in the 11 months to February – and is potentially on track to hit £150bn by the end of the financial year.
VAT
Security services businesses encouraged to check tax submissions
- Article
- 14 Apr 2025
HMRC is asking businesses who provide security services to check that the correct amount of income tax and national insurance contributions (NICs) are being paid in respect of their workers.
Exclusive
Ideas for reforming VAT
- Article
- 03 Apr 2025
VAT prize-winners Sze Teen Wong, Cheryl Ong and Anna Poh point to international experiences to explain how the UK’s VAT system could be made simpler and more progressive.
VAT: Application to strike out appeal on post-Brexit application of EU law
- Helpsheets and support
- 03 Apr 2025
The First-tier Tribunal (FTT) has refused to strike out an appeal concerning the post-Brexit application of EU VAT law. In January 2023, Mr Poulton submitted a VAT refund claim under the DIY housebuilders scheme...
Business rates
Technical round-up: March 2025
- Article
- 27 Mar 2025
This month’s top stories feature 300,000 people who no longer need to submit a tax return, 10 tax changes taking effect from this April, and HMRC launching a new agent query resolution service.
Be bolder in reforming business rates, says ICAEW
- Article
- 18 Mar 2025
ICAEW calls for business rates to be included in an extended business tax roadmap in its response to the government’s consultation on business rates reform.
Tax news in brief 26 February 2025
- Article
- 25 Feb 2025
Highlights from the broader tax news for the week ending 26 February 2025, including: a new feature in the agent services account (ASA); and an opinion from the general anti-abuse rule (GAAR) advisory panel on inheritance tax (IHT) arrangements.
Capital allowances
Ten tax changes taking effect from April 2025
- Article
- 28 Feb 2025
ICAEW’s Tax Faculty picks out 10 important changes applying from 1 April 2025 for companies and 6 April 2025 for individuals and unincorporated businesses.
Don’t forget April tax changes for double cab pick-ups, says ICAEW
- Article
- 21 Feb 2025
HMRC is changing its policy on double cab pick-ups (DCPUs). From April 2025, most DCPUs will be treated as cars, not vans, for direct tax purposes, potentially meaning increased tax bills for employers, employees and businesses.
Exclusive
Tax reliefs on a PCP car purchase
- Helpsheets and support
- 10 Feb 2025
FAQ on whether a sole trader client, who is considering buying a new electric car through a Personal Contract Purchase (PCP) contract, is entitled to any tax reliefs on the purchase.
Environmental taxes
Euro ‘omnibus’ proposal reveals softer CSRD and CSDDD
- Article
- 04 Mar 2025
The European Commission’s omnibus proposal waters down European sustainability reporting and assurance rules within CSRD, CSDDD and CBAM.
Exclusive
Carbon Border Adjustment Mechanism (CBAM) and EU Deforestation Regulation (EUDR): it’s time to act
- Webinar
- 11 Feb 2025
Learn how CBAM and EUDR will work and affect UK businesses, and what steps your business ought to take to avoid being caught out by the transitional arrangements and key dates.
Brace for EU environmental reporting rules, UK businesses urged
- Article
- 04 Feb 2025
If you’re trading with European customers, the Carbon Border Adjustment Mechanism and EU Deforestation Regulations need to be on your radar so you can supply customers with relevant data.
Partnership taxation
Taxation of partnerships: a practical guide, 3rd ed.
- Library book
- 07 Mar 2025
A practical guide to the tax issues and principles which apply to different types of partnership, including LLPs, limited partnerships and partnerships with corporate members. It covers all the key taxes – income tax, capital gains tax, SDLT, corporation tax – as well as complex areas such as mergers and demergers, incorporations, and losses.
Taxation of partnerships and private capital structures, 2nd ed.
- Library book
- 30 Sep 2024
An in-depth guide to the technical and practical UK tax issues around trading and professional partnerships and LLPs, as well as investment fund partnerships and related structures. Also covered are the associated special regimes, such as those for disguised investment management fees, carried interest and income-based carried interest.
Exclusive
Partnerships and Capital Gains Tax
- eBook chapter
- 31 Aug 2024
An overview of the treatment of capital gains by partnerships covering distribution of assets in kind amongst partners, changes in profit sharing ratios, adjustment through the accounts, payments outside the accounts, transfers between persons not at arm's length, disposals -annuity payments, shares acquired in stages and roll-over relief.
Self-employed and tax
Exclusive
Cash basis – a practical example
- Article
- 10 Apr 2025
As the first sets of accounts for the 2024/5 financial year start crossing desks, it may be worth reconsidering the use of the cash basis, which is, of course, the new default position for unincorporated accounts. The switch was announced in 2023 and will apply from 2024/5. Those wishing to continue on an accruals basis will now need to opt out on the Self Assessment return.
Exclusive
New rules on cash basis for income tax
- Helpsheets and support
- 05 Mar 2025
FAQ about whether a loss in 23-24 tax year, can be set against other income of that year, and how new rules in the 2025/26 tax year will affect cash basis.
MTD quiz: what do you know?
- Article
- 28 Feb 2025
Making Tax Digital for income tax is on its way, but how much do you really know? Test your knowledge with our quiz.
Devolved taxes
Devolved taxes
- Hub page
- 27 Apr 2018
Support and guidance on taxation under the devolved governments of the UK; Northern Ireland, Scotland and Wales.
Bloomsbury Accounting and Tax Service - eBooks on devolved taxes
- Listing
- 21 Apr 2021
Browse Bloomsbury Accounting and Tax Service eBooks on devolved taxes.
Customs duties
HMRC increases interest rates for tax paid late
- Article
- 31 Mar 2025
As first announced at the Autumn Budget 2024, the interest rate charged by HMRC for late payments of most taxes and duties will increase from 7% to 8.5% from 6 April 2025.
Tax news in brief 19 February 2025
- Article
- 18 Feb 2025
Highlights from the broader tax news for the week ending 19 February 2025, including: an update from HMRC on the progress of some R&D tax relief enquiries; and updated HMRC guidance on employment status.
Tax news in brief 12 February 2025
- Article
- 12 Feb 2025
Highlights from the broader tax news for the week ending 12 February 2025, including: a reduction in the rates of interest on tax; the publication of help cards for employers; and changes to land transaction tax.
Charities
Budget 2024 – what’s in it for charities?
- Article
- 08 Mar 2024
Facing continued economic challenges, an election on the near horizon and conflict in the Middle East and Ukraine, this was always going to be a challenging budget for the Chancellor. That did not stop the Chancellor from trying to pull some vote-winning rabbits out of the hat – although there was unfortunately little to benefit charities.
Charity tax reforms should not overly burden charities, cautions ICAEW
- Article
- 25 Jul 2023
While ICAEW’s Tax Faculty supports HMRC’s efforts to counter the abuse of charity tax rules, any reforms should be proportionate to the issue. Otherwise, the reforms risk deterring volunteer involvement and vital donations to charities.
Myth: Charities don’t have to pay taxes so need less money
- Report
- 14 Jul 2023
Charities are not automatically exempt from tax. Confusion arises because registered charities qualify for some tax exemptions, which leads to a mistaken belief that charities do not pay tax.
HMRC publishes new Charities newsletter
- Article
- 12 Jun 2023
HMRC’s Charities newsletter will be published periodically to update charities and their advisers on upcoming changes relating to tax that may affect them.
Construction industry scheme
Exclusive
Pitfalls of the Construction Industry Scheme
- Article
- 09 Apr 2025
Howard Royse looks into the archives and shares some cautionary advice around the application of the Construction Industry Scheme (CIS).
Changes made to CIS processes for overseas businesses
- Article
- 06 Feb 2025
HMRC has updated its procedures to address challenges identified by ICAEW’s members in registering overseas businesses for the construction industry scheme (CIS).
Exclusive
The Construction Industry Scheme
- eBook chapter
- 01 Feb 2025
Practical guidance on how the Construction Industry Scheme (CIS) applies to businesses within the UK tax regime.
Exclusive
Employment status
- eBook chapter
- 01 Dec 2024
A chapter discussing the ways in which employment status may have to be considered by a business when it incorporates.
International taxes
Expert commentary and practical guidance from ICAEW related to international taxation regimes. You may also be interested in searching our tax guides by country.
BEPS
- Hub page
- 30 Jan 2018
Expert commentary and practical guidance from ICAEW related to base erosion and profit shifting, commonly known as BEPS, within international taxation.
Mandatory disclosure rules and DAC 6
- Hub page
- 03 Jul 2020
Practical guidance and support on tax disclosure around the world, including the UK's Mandatory Disclosure Rules and DAC 6.
Double tax agreements
- Hub page
- 30 Jan 2018
Expert commentary and practical guidance from ICAEW on issues related to double taxation and the use of tax treaties in international taxation
FATCA and CRS
- Hub page
- 10 May 2018
Guidance and information on the Foreign Account Tax Compliance Act (FATCA) and the Common Standard on Reporting and Due Diligence for Financial Account Information (CRS).
Transfer pricing
- Hub page
- 30 Jan 2018
Expert commentary and practical guidance from ICAEW related to transfer pricing in international taxation.
Residence and domicile
- Hub page
- 30 Jan 2018
Expert commentary and practical guidance from ICAEW related to residence and domicile in the UK personal tax regime, including offshore investments.
Sector specific and situation specific taxes
Certain industries have their own tax arrangements, while major events, such as the coronavirus pandemic, can also give rise to their own solutions.
Charities and taxation
Expert commentary and practical guidance from ICAEW related to the taxation of charitable organisations within the UK.
View allConstruction Industry Scheme
Expert commentary and practical guidance from ICAEW on the construction industry scheme (CIS) and how it applies for businesses within the UK tax regime.
View allCoronavirus and tax
Governments around the world announced tax measures to support businesses and individuals in response to the COVID-19 pandemic. The consequences of these actions continue to play out.
View all