Tax rates, allowances and reliefs
This guidance provides a summary of key tax rates, allowances and reliefs for 2016/17, 2017/18 and 2018/19.
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 practical TAXguide Sarah Bradford, director of Writetax and editor of Small Business Tax and Finance, explores the cash basis of assessment as it applies to traders and landlords. Read a summary here, Tax Faculty members can download the full guide.
FAQ on whether a limited company is entitled to claim capital allowances on some software rights it has purchased.
FAQ on the income tax treatment of electric and hybrid cars for the purposes of benefits in kind / employee expenses.
Lindsey Wicks takes a look at what it contains, including information on income tax, investments, trading and property businesses, corporation tax, chargeable gains, domicile and overseas property, disguised remuneration, capital allowances, indirect taxes, reporting and record-keeping, avoidance and more.
In TAXguide 14/18, Sue Moore answers a selection of the key questions raised by viewers of the Tax Faculty webinar ‘property tax update’’, broadcast on 9 July 2018.
HMRC's vision to digitalise the UK tax system is well underway. The transformation will start with Making Tax Digital (MTD) for VAT from April 2019.
An introduction to the cash basis, what it is, who might use it and why.
In this TAXguide Paul Bater discusses developments concerning the direct and indirect tax treatment of charitable and other non-profit making organisations, including the latest in charitable giving.
Marianne Mau of the Financial Reporting Faculty outlines some of the improvements made to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland as a result of the Triennial review 2017 amendments.
The FRC has launched a consultation into FRED 68, which proposes an amendment to FRS 102 regarding the accounting of payments to charities by their trading subsidiaries.
A roundup of recent tax issues regarding Gift Aid, VAT and the Apprenticeship Levy.
In TAXguide 01/18 Howard Royse provides an overview of the construction industry and explains the verification process and what gross payment status means. Read a summary here, Tax Faculty members can download the full guide.
First broadcast 8 June 2017 - Join Sarah Ghaffari and Howard Royse for this informative webinar about the construction industry.
Tax consultant Tim Palmer spoke to members of ICAEW’s Tax Club for younger tax practitioners about the regulatory and reporting requirements of the construction industry scheme
An Abbey Tax FAQ on whether a client who is a member of the Construction Industry Scheme (CIS) should calculate VAT before, or after, taking off the deduction.
This informative and practical webinar which will explore the recent changes to the use of carried-forward losses in companies
The Corporate Interest Restriction has effect from 1 April 2017, affecting all accounting periods ending after that date.
In TAXguide 08/18 Anton Hume and Andrew Stewart, BDO LLP, provide a detailed analysis of the corporate interest restriction calculation using practical examples. Read a summary here, Tax Faculty members can download the full guide.
An introduction to the corporation tax payment dates for large companies.
Entrepreneurs’ relief is designed to give relief for capital gains tax on the disposal of interests in businesses and this relief may be extended to assets used in those businesses. This article examines the difficulty in obtaining relief for the disposal of a business asset, such as the surgery building, while the business is ongoing.
Following on from the popular elementary guide to the taxation of UK trusts, this webinar covers: the inheritance tax regime for relevant property trusts; the impact of the changes to the taxation of dividends; capital gains tax reliefs; and tips on parts of the legislation you may not come across often.
Farmers have been able to claim entrepreneurs’ relief (ER) on qualifying gains made since 5 April 2008, paying just 10% tax. This article reflects on the conditions with references made to case decisions.
Sue Moore goes into detail about entrepreneur’s relief – including qualifying corporate bonds and non-qualifying corporate bonds – in her review of Entrepreneurs’ Relief by Stephanie Churchill
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.
IHT is the flavour of the month, the Resolution Foundation published their take on it last week proposing a capital acquisition tax, the OTS is looking at simplification and the Chancellor promised a consultation on the taxation of trusts which will inevitably include IHT. Are they each going to come up with a different solution?
In TAXguide 03/18, Kate Upcraft answers a selection of the key questions raised by viewers of the Tax Faculty webinar "employment taxes round up", broadcast on 13 February 2018. Read a summary here, Tax Faculty members can download the full guide.
Sarah Bradford of Writetax Ltd explains some of the April 2018 employment tax changes that employers and advisers need to know about, including termination payments, company cars, student loans and P11D changes
Terriers come in two types. There are small hairy ones that are ideal for keeping down the rats in the barn, but for the purposes of this article, we will be concentrating on the other sort – according to the Oxford English Dictionary, “A register of the lands belonging to a landowner, originally including a list of tenants, their holdings, and the rents paid, later consisting of a description of the acreage and boundaries of the property”.
Farming tax specialist Wayne Glenton looks at some practical and technical issues, including taxation in agriculture, inheritance tax – business property relief and agricultural property relief – partnerships, trade vs investment, CGT: entrepreneurs’ relief and gift hold-over relief.
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.
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.
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
This webinar aired on 13 February 2018, just before Scotland's major shake-up of income tax. In it payroll consultant Kate Upcraft and ICAEW’s Peter Bickley explore what this means for agents and taxpayers, and look at a myriad of other changes in the payroll arena as we approach the start of the new tax year.
In TAXguide 01/18 Howard Royse provides an overview of the construction industry and explains the verification process and what gross payment status means. Read a summary here, Tax Faculty members can download the full guide.
Jane Moore reports on the June 2018 meeting of Tax Club, which featured experts Jolyon Maugham QC and EY’s Steve Wade. They discussed the tax and employment law angles of the gig economy, including the tax position, the use of intermediaries, and alternatives and solutions.
Caroline Miskin explains that if you don’t follow HMRC’s standard procedures for registering clients for self assessment, they may end up with duplicate income tax calculations or unpaid class 2 NIC.