Displaying 1-30 of 181 results
PRACTICE DEPARTMENT
MTD for income tax: Your quick start guide
- Nov 2024
- ICAEW
As we navigate through the self-assessment season, many accountants are also planning their MTD income tax service offerings. But where do you start?
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
Technical round-up: November 2024
- Nov 2024
- ICAEW Insights
This month’s top stories feature Budget measures you may have missed; a deadline extension for providing agent codes; and data that suggests improvement on HMRC call handling.
INSIGHTS VIEWPOINT
ECONOMIC UPDATE
Economy explainers: what is MTD?
- Nov 2024
- ICAEW Tax Faculty
ICAEW's Tax Faculty sets out the key things taxpayers and agents need to know about Making Tax Digital (MTD), including the timeline for the phased introduction of MTD for income tax self assessment (ITSA).
INSIGHTS VIEWPOINT
Free CPD: the latest developments in tax
- Nov 2024
- ICAEW Insights
Keeping up to date with tax policy and practice is a key part of many accountants’ professional development. Whether you’re analysing the implications of the Budget or planning for MTD ITSA, ICAEW has content that can support your CPD.
TAX FACULTY
Tax news in brief 20 November 2024
- Nov 2024
- ICAEW Insights
Highlights from the broader tax news for the week ending 20 November 2024, including: an update on MTD ITSA; suggestions for HMRC on how to reduce the tax gap; and legislation to enact the changes to business rates announced at the Autumn Budget 2024.
INSIGHTS VIEWPOINT
Government and developers commit to MTD ITSA from 2026
- Nov 2024
- ICAEW Insights
Recent announcements by the government and software developers remove any doubt about the introduction of making tax digital income tax self assessment (MTD ITSA).
PRACTICE DEPARTMENT
Prepare for MTD ITSA: manging workflows
- Oct 2024
- Rebecca Benneyworth
- Practicewire
Submitting updates for clients within MTD ITSA in the same month, four times a year, presents a huge challenge for firms. In the second of a series of articles, Rebecca Benneyworth considers how to manage information and workloads.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
Technical round-up: October 2024
- Oct 2024
- ICAEW Insights
This month’s top stories feature eight Budget updates covered by ICAEW’s Tax Faculty, a list of software products that are now ready for MTD ITSA, and new VAT guidance for private schools.
INSIGHTS VIEWPOINT
Budget makes changes to how the tax system is administered
- Oct 2024
- ICAEW Insights
The Budget included several announcements on how HMRC will tackle non-compliance in the tax system, as well as an important update on making tax digital for income tax self assessment (MTD ITSA).
Tax news in brief 30 October 2024
- Oct 2024
- ICAEW Insights
Highlights from the broader tax news for the week ending 30 October 2024, including: a MTD ITSA event organised by HMRC; an online tool for taxpayers from HMRC; and an update from HMRC on tax avoidance schemes.
INSIGHTS VIEWPOINT
New HMRC MTD ITSA tool
- Oct 2024
- ICAEW Insights
HMRC has published a guidance tool which allows a taxpayer to check if they are required to comply with making tax digital (MTD) income tax self assessment (ITSA).
INSIGHTS VIEWPOINT
Nine software products support MTD ITSA
- Oct 2024
- ICAEW Insights
FreeAgent and Hammock for landlords have joined the list of software products that are now ready for making tax digital income tax self assessment (MTD ITSA).
INSIGHTS VIEWPOINT
Record number respond to ABAB tax survey
- Oct 2024
- ICAEW Insights
ABAB’s annual survey suggests that most agents and businesses see no benefits to making tax digital for income self assessment (MTD ITSA), and that frustration with HMRC’s service levels is growing.
PRACTICE DEPARTMENT
Prepare for MTD ITSA: review clients’ needs
- Sep 2024
Building a work list around clients who will be mandated into Making Tax Digital income tax self assessment (MTD ITSA) in 2026 is a task to start now. In the first in a series of articles, Rebecca Benneyworth sets out the steps to take first.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
ICAEW technical round-up: August 2024
- Aug 2024
- ICAEW Insights
This month’s top stories include: warning of a fraudulent HMRC letter; confirmation of how property income for Making Tax Digital is calculated; and HMRC changes to LLP salaried member rules.
INSIGHTS VIEWPOINT
MTD update: HMRC guidance, email and event
- Aug 2024
- ICAEW Insights
HMRC has confirmed how it works out property income for the making tax digital (MTD) income tax self assessment (ITSA) threshold test. It is also stepping-up efforts to encourage taxpayers to join private beta testing.
Tax news in brief 31 July 2024
- Jul 2024
- ICAEW Insights
Highlights from the broader tax news for the week ending 31 July 2024, including: regulations have been made which exempt certain payments made to postmasters from tax; HMRC has updated its MTD guidance; and further information is now available from HMRC on the 2022/23 class 2 NIC issue affecting some taxpayers.
INSIGHTS VIEWPOINT
Help shape ICAEW’s MTD content
- Jul 2024
- ICAEW Insights
The Tax Faculty welcomes feedback on its updated content on Making Tax Digital (MTD).
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
Technical round-up: May 2024
- May 2024
- ICAEW Insights
This month’s top stories include a HMRC warning about VAT bank details fraud; an NAO report showing taxpayers have been let down by poor HMRC service; and HMRC rejecting the ‘brightline’ test for furnished holiday lets.
INSIGHTS VIEWPOINT
HMRC consults on a change to the reformed penalty system
- May 2024
- ICAEW Insights
Draft regulations allow HMRC to assess the second penalty for late payment before the tax has been paid in full.
INSIGHTS VIEWPOINT
Taxpayers let down by poor HMRC service, says NAO
- May 2024
- ICAEW Insights
The National Audit Office (NAO) has found that HMRC’s increased digital offering has not delivered the expected savings or improved services for taxpayers. The government has promised more funding for HMRC.
INSIGHTS VIEWPOINT
Seven software products now support MTD ITSA
- May 2024
- ICAEW Insights
HMRC has added APARI and Digita Personal Tax to the list of software products compatible with making tax digital (MTD) for income tax self assessment (ITSA).
INSIGHTS VIEWPOINT
Agents can register to payroll client’s benefits-in-kind
- May 2024
- ICAEW Insights
It is now possible for agents to register with HMRC for benefits-in-kind (BIK) to be taxed through their client's payroll for 2025/26 onwards.
INSIGHTS VIEWPOINT
How taxpayers can take “reasonable care”
- May 2024
- ICAEW Insights
ICAEW’s Tax Faculty explains how taxpayers can take reasonable care when submitting a tax return, including when a second opinion may be needed.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
ICAEW technical round-up: April
- Apr 2024
- ICAEW Insights
This month’s top stories include community amateur sports clubs asked to check their status; MTD ITSA private beta testing relaunched; and tax administration and maintenance day summary.
INSIGHTS VIEWPOINT
HMRC launches fully digital service for voluntary NI contributions
- Apr 2024
- ICAEW Insights
The government has launched a new service that allows individuals to identify gaps in their national insurance (NI) record and make voluntary contributions without phoning for a reference number.
INSIGHTS VIEWPOINT
Agents can now change contact details online
- Apr 2024
- ICAEW Insights
New functionality in the agent services account allows agents to change their contact details online.
INSIGHTS VIEWPOINT
Avoid payroll errors with HMRC’s online starter checklist
- Apr 2024
- ICAEW Insights
New employees should complete the starter checklist before their first payday so their employer can report the details via PAYE RTI to HMRC correctly first time.
INSIGHTS VIEWPOINT
Consider using the real-time CGT service to report gains
- Apr 2024
- ICAEW Insights
ICAEW’s Tax Faculty is reminding taxpayers that HMRC's real-time service can be used to report capital gains outside of self assessment, including gains on cryptoassets.
INSIGHTS VIEWPOINT
MTD ITSA private beta testing relaunched
- Apr 2024
- ICAEW Insights
Check the eligibility criteria for MTD ITSA private beta testing and if your software developer is ready. An ICAEW Tax Faculty webinar on 24 April will explain more.
Displaying 1-30 of 181 results
Free webinar on MTD ITSA
Making Tax Digital income tax self assessment (MTD ITSA) is scheduled to start from April 2026. The outcome of the policy review for small businesses was announced in November 2023 and amended regulations were laid before parliament in February 2024. HMRC is launching a private beta pilot for 2024/25, starting in April. Join the tax team for the latest information, including the pros and cons of joining the pilot.
- Register to attend
- Free
- 24/04/2024 @ 12:00 - 13:00
TAXconnect
Search for a consultant to help you with a specific technical tax problem. TAXconnect works on a telephone ‘hotline’ system, whereby consultants offer advice to fellow Tax Faculty members on tax problems for a nominal fee.
