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.
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.
Need to know
In this section
Capital allowances
TAXguide 11/19: Capital allowances update
This TAXguide will cover the key changes to the capital allowances regime since Tax Practice supplement 21 on the subject in September 2008.
Tax relief on commercial property
FAQ on whether a client can claim allowances on the building that his company has purchased.
The Business Case for Onsite Renewable Energy Generation
Chris Trigg highlights the latest electricity and gas price rises, the impact on business and a strategy to reduce demand for grid supplied energy to help manage and avoid these rising costs.
Business tax update
The latest key tax rules and reliefs affecting business.
Cash basis
Making tax digital for VAT: Systems software and schemes
Technical helpsheet to help members in practice with implementing Making Tax Digital for VAT. It focuses on the systems, software and schemes practitioners will need in order to file clients' MTD for VAT returns digitally.
TAXbite: MTD - Cash accounting scheme
An overview of the cash accounting scheme for VAT and how it interacts with MTD
MTD for business overview
HMRC's vision to digitalise the UK tax system is well underway. The transformation started with Making Tax Digital (MTD) for VAT from April 2019.
Charities
UK GAAP 2018 reminders and tips
Tessa Park, Kingston Smith outlines some key areas for UK GAAP reporters to consider when preparing their 2018 financial statements.
J Netley and HMRC
TCO 5904 Appeal number TC/2011/0610
Budget 2018: Charities
ICAEW Tax Faculty provides analysis of the announcements relating to the taxation of charities in the 2018 Budget.
Charities SORP published
Bulletin 2 for the Charities SORP (FRS 102) has been published on 5 October
Getting ready for the new construction industry reverse charge
Nick McChesney, the Tax Faculty’s VAT and Duties Committee chair, examines the new construction industry reverse charge and how to prepare for it.
VAT construction reverse charge
FAQ on whether the new domestic reverse charge for construction services coming in from 1 October 2019 will affect my client supplies, who supplies construction services, usually as a sub-contractor to a main contractor.
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.
The construction industry - what could possibly go wrong?
First broadcast 8 June 2017 - Join Sarah Ghaffari and Howard Royse for this informative webinar about the construction industry.
Corporation tax
TAXguide 05/19: Intangible fixed assets and corporate tax deductibility
In TAXguide 05/19 Andrew Tall explains the different ways that a revenue deduction can be claimed for ‘typical’ intangible fixed assets used by a company in a taxable business, as introduced in Finance Act 2019 under chapters 3 and 15, Pt 8, Corporation Tax Act 2009.
TAXguide 18/18: Small business tax issues
In TAXguide 18/18, Rebecca Benneyworth explores the recent tax changes affecting small businesses, and looks at the impact of the more recent changes to dividend taxation and the rate of corporation tax. The full guide can be downloaded by Tax Faculty members and Faculties Online subscribers.
Research and development tax relief
Sarah Goodman discusses the changes to the R&D tax relief for SMEs announced in the Budget 2018.
Budget 2018: Tax rates and allowances
ICAEW Tax Faculty provides analysis of the announcements relating to tax rates and allowances in the 2018 Budget.
Entrepreneurs relief
TAXguide 13/19: ENTREPRENEURS’ RELIEF: Further questions on Finance Act 2019 changes
Following the publication of TAXguide 04/19 ENTREPRENEURS’ RELIEF: Clarification of the new ‘5% proceeds test’ inserted by Finance Act 2019 - questions on scope of the new provisions along with HMRC responses, further questions have arisen on the Finance Act 2019 entrepreneurs’ relief legislation.
Entrepreneurs relief - the recent changes
This webinar considers the changes introduced in Finance Act 2019, practical issues concerning options, and the ongoing problems regarding the definition of ordinary share capital and what is a personal company.
Bloomsbury reference texts help with entrepreneurs relief
Looking at how Bloomsbury online can help with research into entrepreneur's relief.
TAXguide 04/19: Entrepreneurs’ relief – clarification of the new 5% proceeds test
This TAXguide sets out a series of questions raised by the Tax Faculty with HMRC in order to explore the changes made to entrepreneurs’ relief, introduced in Finance Act 2019. HMRC’s replies are set out in full in this TAXguide.
National insurance
Budget 2018: Tax rates and allowances
ICAEW Tax Faculty provides analysis of the announcements relating to tax rates and allowances in the 2018 Budget.
Budget 2018: Personal and employment taxes
ICAEW Tax Faculty provides analysis of the announcements relating to personal and employment taxes in the 2018 Budget.
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.
How do you tax a robot?
The Tax Faculty's technical lead, Anita Monteith, looks at the tax challenges brought by the increasing use of artificial intelligence and robotic process automation.
Partnership taxation
Its different in Scotland part three
It is important to be aware of the differences between partnerships in Scotland and those in the rest of the UK.
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.
TAXguide 17/18: Partnership tax
In TAXguide 17/18, Andrew Constable answers a selection of the key questions raised by viewers of the Tax Faculty webinar ‘partnership tax’’, broadcast on 8 November 2018.
Research and development
The ICAEW Tax Faculty Conference 2018 – part two
The 2018 ICAEW Tax Faculty Conference was chaired by Mary Monfries and Frank Haskew. This article includes commentary from Nigel Holmes (Catax) on R&D tax relief and patent box; John Cassidy (Crowe Clark Whitehill) on HMRC enquiries; and practical points from the Tax Faculty team.
Research and development tax relief
Sarah Goodman discusses the changes to the R&D tax relief for SMEs announced in the Budget 2018.
Business implications of Autumn Budget 2017
Changes to business rates and reliefs for R&D will be welcome news for firms, says Matthew Rideout, but the Autumn Budget will probably not have a major impact on business who are facing the challenges of Brexit and continuing high inflation.
Research and development tax relief in the UK
Nigel Holmes of tax relief specialist Catax considers research and development tax relief in the UK, the effecting of claiming state funding, R&D expenditure credit and how SMEs can make the most of R&D tax relief and grants side by side
Self employment taxation
Simplification of tax reporting and payment arrangements for the self-employed and landlords
In this webinar we are joined by the Office of Tax Simplification to discuss the OTS document which sets out the scope of a new project around simplifying the tax reporting and payment arrangements for the self-employed and landlords of private residential property.
IR35 cases
Exploration of a number of recent key IR35 cases.
VAT construction reverse charge
FAQ on whether the new domestic reverse charge for construction services coming in from 1 October 2019 will affect my client supplies, who supplies construction services, usually as a sub-contractor to a main contractor.
TAXbite: IR35 – an overview
An introduction to IR35, what it is and why it is important.