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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)

Capital gains tax: partnership or company?

Mark McLaughlin looks at the distinction between partnerships and companies for business asset disposal relief (BADR) purposes in relation to pre-trading activities and capital gains tax, focusing on Wardle v Revenue and Customs.

Entrepreneurs’ relief

Rachael Dronfield provides an update on entrepreneurs’ relief for trust business assets in relation to the Quentin Skinner 2005 settlement.

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?

Expenses

Clearly laid-out chapter on expenses, covering tax issues relating to UK employers and their staff.

Self-employment

A full chapter providing a practical overview of the taxation of self-employment income in the UK, including the temporary Covid-19 Self-employment Income Support Scheme (SEISS).

Tax news in brief

Highlights from the broader tax news for the week ending 17 November, including: HMRC contacting taxpayers about the extension of MTD VAT from April 2022, designation of the first freeport tax sites and a warning about self assessment scams.

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.

The Construction Industry Scheme

Practical guidance on how the Construction Industry Scheme (CIS) applies to businesses within the UK tax regime.

Construction Industry Partnerships

Concise chapter providing guidance on partnership taxation for businesses in the construction industry, which are subject to the Construction Industry Scheme ('CIS').

Construction Reverse Charge

FAQ on how the new domestic reverse charge (DRC) VAT rules (which came into force on 1 March 2021) apply within the Flat Rate Scheme.

HMRC Corporate Finance Manual CFM1000

This HM Revenue and Customs Corporate Finance Manual contains guidance on the corporation tax treatment of corporate finance, including derivative contracts and foreign exchange.

The tax system in review

The impact of COVID-19 continues to cast a shadow over the UK tax system, says Head of Tax Faculty Frank Haskew as he takes a look back at the previous year and predicts what is in store for the months ahead.

National Insurance

Clearly laid-out chapter on national insurance, covering tax issues related to UK employers and their staff.

Capital gains tax: partnership or company?

Mark McLaughlin looks at the distinction between partnerships and companies for business asset disposal relief (BADR) purposes in relation to pre-trading activities and capital gains tax, focusing on Wardle v Revenue and Customs.

Research and development

Practical guidance on tax reliefs related to research and development within the UK business tax regime.

COVID-19 and the future of tax

How will the Exchequer cover the costs of the economic support and stimulus packages caused by the pandemic? A reduction in defence spend, changes to business rates, corporation, capital gains and inheritance taxes; a wealth tax?