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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.

In this section

Business asset disposal relief (formerly entrepreneurs' relief)

Financial tips for GPs as they begin emerge from Covid-19 lockdown

All businesses will need to take lessons learned over the last few weeks into their future and our GP Practice clients, and Primary Care as a wider spectrum, will be no exception to this. So, what can we advise them to help the thought process on the financial aspects?

MTD for business overview

HMRC's vision to digitalise the UK tax system is well underway. The transformation started in April 2019 with Making Tax Digital (MTD) for VAT for businesses with taxable turnover above the VAT threshold.

Campaign for a Gift Aid Emergency Relief Package

A coalition of leading voices in the UK charity sector is calling on the Government to temporarily increase the level of Gift Aid that can be claimed on donations to support charities through the difficult times ahead.

Tax and the construction industry

The construction sector is again under the spotlight. Tim Palmer and Mark Rubinson of Arram Berlyn Gardner review in depth the forthcoming tax changes. They look at the basics of the construction industry scheme, how the changes affect contractors and subcontractors, and illustrate their points using three examples.

Have your say on UK tax policies

19 June: ICAEW’s Tax Faculty is calling on members to share their views on raising standards in the tax advice market, tackling abuse of tax relief and improving HMRC’s charter.

MTD for corporation tax in HMRC's sights from 2026

12 November 2020: HMRC has published the long-awaited consultation on Making Tax Digital for corporation tax (MTD for CT), confirming its plans for rolling out MTD. Meanwhile, consultation on more timely payment and the tax administration framework has been delayed to Spring 2021.

What VAT options could be available from January 2021?

Frank Haskew, Head of the Tax Faculty, reviews the tax opportunities – with a focus on VAT reform – that may be available from 1 January 2021. He looks at the likelihood of VAT being abolished, eliminating the zero rate, higher rates of VAT and reducing the VAT threshold among other things.

ICAEW supports review of R&D expenditure

12 October 2020: ICAEW has backed plans to review qualifying R&D expenditure to ensure it’s well targeted and reflects modern processes but encouraged HMRC to consider how it might reform R&D relief to support all industries.

Tax Round-up 2020

This webinar from the Tax Faculty provides a round up of all the measures that are under review and subject to consultation, and how the faculty will be responding.

Error in tax credit renewal packs

22 June: HMRC is writing to one million tax credit claimants whose renewal packs omitted some information, as ICAEW urges self-employed claimants to check whether they need to contact HMRC by 31 July.