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Guidance
MTD for individuals
MTD for individuals is centred around the Personal Tax Account (PTA) which already has many of the services needed by PAYE taxpayers. HMRC continues to improve and develop the PTA.
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Taxline
Practical points: personal tax January 2024
Every month, the Tax Faculty publishes short, practical pieces of guidance to help agents and practitioners in their day-to-day work. This month covers capital gains tax; income tax; and residence and domicile.
Capital gains tax
HMRC questions claims for investors’ relief
- Article
- 16 May 2025
HMRC is writing to taxpayers who made a claim for investors’ relief on their 2023/24 income tax self assessment return and do not appear to meet the conditions for relief.
Landlords advised not to use tax avoidance scheme
- Article
- 01 May 2025
HMRC has warned against the use of a capital gains tax (CGT) avoidance scheme that involves an individual transferring their property business to a limited liability partnership (LLP), which is then put into members’ voluntary liquidation (MVL).
CGT adjustment may be needed to 2024/25 tax returns
- Article
- 24 Mar 2025
HMRC has published a calculator to work out the adjustment that may be needed to the 2024/25 self assessment tax return as a result of the in-year change to the main rates of capital gains tax (CGT).
Ten tax changes taking effect from April 2025
- Article
- 28 Feb 2025
ICAEW’s Tax Faculty picks out 10 important changes applying from 1 April 2025 for companies and 6 April 2025 for individuals and unincorporated businesses.
Income tax
Free CPD: Keep up to date with MTD
- Article
- 05 Jun 2025
Read, watch and listen to ICAEW content to get up to speed with Making Tax Digital (MTD) for income tax and support your professional development.
Exclusive
New regime for taxing foreign income and gains
- Article
- 05 Jun 2025
You’re probably aware that the so-called ‘non-dom’ regime has come to an end, but what will replace it? In the first of four articles, Katherine Ford explores the abolition of the remittance basis regime and the introduction of the new foreign income and gains regime from 6 April 2025.
ICAEW technical round-up: May 2025
- Article
- 29 May 2025
This month’s top stories feature a landlord tax avoidance scheme warning, a new ICAEW audit training film and an ISSB proposal to reduce Scope 3 sustainability reporting.
Tax news in brief 27 May 2025
- Article
- 27 May 2025
Highlights from the broader tax news for the week ending 27 May 2025, including: new HMRC calculators to help with claiming creative industry tax reliefs; and an update from HMRC on the new independent review of the loan charge.
Inheritance tax
Trendwatch: agriculture
- Article
- 06 Jun 2025
Agriculture has been thrust into the spotlight with security of food supply and inheritance tax changes fuelling media interest. But what is going on with investment in the sector?
ICAEW technical round-up: May 2025
- Article
- 29 May 2025
This month’s top stories feature a landlord tax avoidance scheme warning, a new ICAEW audit training film and an ISSB proposal to reduce Scope 3 sustainability reporting.
Influencing policy to support you: May 2025
- Article
- 29 May 2025
ICAEW has shared recommendations and insights from members on apprenticeship funding, inheritance tax changes, amendments to the Employment Rights Bill and the local audit market.
Exclusive
What the IHT changes mean for farmers
- Article
- 21 May 2025
As has been well documented in the national press, significant changes were made to inheritance tax reliefs (“IHT”) as part of Rachel Reeves' Autumn budget. These changes could force individuals to sell off farms that have been in the family for generations, due to the “dry tax charge” that will potentially arise on death. Essentially, a dry tax charge is a tax liability that crystallises without an individual receiving any funds to discharge the liability.
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Pensions
Tax news in brief 2 April 2025
- Article
- 01 Apr 2025
Highlights from the broader tax news for the week ending 2 April 2025, including: a webinar from HMRC on proposals aimed at tackling tax advisers who facilitate tax avoidance; and an update on the independent loan charge review.
International tax treatment of pension lump sums clarified
- Article
- 27 Mar 2025
HMRC has updated its international manual to include long-awaited guidance on the tax treatment of lump sum pension payments under the UK’s double tax agreements (DTAs).
Tax news in brief 29 January 2025
- Article
- 28 Jan 2025
Highlights from the broader tax news for the week ending 29 January 2025, including: an update on Finance Bill 2024-25; new HMRC guidance on labour supply chain assurance; and notification of a one-to-many campaign from HMRC.
How agents can help with McCloud tax changes
- Article
- 03 Dec 2024
ICAEW explains how agents can make use of HMRC’s online service to correct the tax position of a client affected by the public service pensions remedy (also known as McCloud).
Property tax
Exclusive
What the IHT changes mean for farmers
- Article
- 21 May 2025
As has been well documented in the national press, significant changes were made to inheritance tax reliefs (“IHT”) as part of Rachel Reeves' Autumn budget. These changes could force individuals to sell off farms that have been in the family for generations, due to the “dry tax charge” that will potentially arise on death. Essentially, a dry tax charge is a tax liability that crystallises without an individual receiving any funds to discharge the liability.
Government’s plans for inheritance tax may have severe consequences
- Article
- 07 May 2025
ICAEW has responded to the government’s consultation on how the proposed changes to agricultural property relief (APR) and business property relief (BPR) for inheritance tax (IHT) will apply to property settled into trust.
Landlords advised not to use tax avoidance scheme
- Article
- 01 May 2025
HMRC has warned against the use of a capital gains tax (CGT) avoidance scheme that involves an individual transferring their property business to a limited liability partnership (LLP), which is then put into members’ voluntary liquidation (MVL).
Technical round-up: April 2025
- Article
- 30 Apr 2025
This month’s top stories feature new sanctions for tax advisers; a warning for couples with furnished holiday lets; and a dip in HMRC performance.
Residence and domicile
Exclusive
New regime for taxing foreign income and gains
- Article
- 05 Jun 2025
You’re probably aware that the so-called ‘non-dom’ regime has come to an end, but what will replace it? In the first of four articles, Katherine Ford explores the abolition of the remittance basis regime and the introduction of the new foreign income and gains regime from 6 April 2025.
Exclusive
Why non-resident landlords may pay more corporation tax
- Article
- 01 May 2025
Andy Tall explores the principle of ‘non-discrimination’ and explains why most non-resident companies with UK property income cannot rely on it to pay corporation tax at a rate lower than 25%.
New process and rules for international employees
- Article
- 25 Apr 2025
ICAEW is reminding employers of the changes made from 6 April 2025 to the process for operating pay as you earn (PAYE) for globally mobile or treaty non-resident employees and to overseas workdays relief.
Jon Moulton on the first Labour Budget
- Article
- 10 Dec 2024
The Labour government’s first Budget presents challenges for private equity, but nothing is insurmountable, says Jon Moulton CBE.
Budget updates on manifesto commitments
- Article
- 30 Oct 2024
The government has provided updates on some of the key measures included in the Labour Party’s general election manifesto, including the taxation of “non-doms” and charging VAT on services provided by private schools.
Panel supports UK re-domiciliation regime
- Article
- 14 Oct 2024
The panel set up by the previous government to explore a possible UK re-domiciliation regime has outlined how the regime could work and the tax, accounting and insolvency legislation that may be needed.
Savings and investments
HMRC more than doubles its compliance yield from wealthy individuals
- Article
- 20 May 2025
In 2023-24, HMRC collected or protected £5.2bn in tax from wealthy individuals that would otherwise have been lost, up from £2.2bn in 2019-20, the National Audit Office (NAO) has reported.
How members are putting MTD into practice
- Article
- 19 May 2025
Many practices are advancing their Making Tax Digital for income tax roadmap, informing clients, researching software solutions and testing early – but the road ahead remains dotted with challenges.
HMRC questions claims for investors’ relief
- Article
- 16 May 2025
HMRC is writing to taxpayers who made a claim for investors’ relief on their 2023/24 income tax self assessment return and do not appear to meet the conditions for relief.
Exclusive
Investors’ relief: stepping out of the shadows
- Article
- 06 Feb 2025
Although not as well known as business asset disposal relief, investors’ relief is just as generous and just as challenging. Stephen Relf and Katherine Ford explain why.
Trusts
Inheritance tax: FTT finds for taxpayer on excluded property
- Helpsheets and support
- 05 Jun 2025
The First-tier Tribunal (FTT) has found that property added to an offshore trust after a taxpayer acquired a UK domicile was still excluded property...
Five tips for dealing with HMRC: trusts, estates and IHT
- Article
- 13 Mar 2025
Following a meeting with HMRC’s trust and inheritance tax (IHT) teams, ICAEW’s Tax Faculty has pulled together five tips which may help taxpayers and agents to complete tasks more quickly and HMRC to make best use of its resources.
Government considers impact of inheritance tax reforms on trusts
- Article
- 28 Feb 2025
The government is consulting on how its proposed changes to agricultural property relief (APR) and business property relief (BPR) will apply to property settled into trust.
Need to know: employee ownership trusts
- Article
- 18 Feb 2025
The sale of a company to its employees is on the rise. Nick Wright looks at why and explores the pros and cons and potential structure of an employee ownership trust.
HMRC will not accept some in-year trust and estate tax returns
- Article
- 11 Feb 2025
Due to the change in the rate of capital gains tax (CGT) from 30 October 2024, trustees and personal representatives (PRs) may need to wait until after the end of the tax year to submit 2024/25 tax returns.
HMRC accused of damaging trust in the tax system
- Article
- 22 Jan 2025
Parliament’s Public Accounts Committee (PAC) says HMRC’s customer services have “deteriorated even further” from last year’s “all-time low” as HMRC answered just 66.4% of calls against a target of 85%.
Update on making tax digital and jointly owned property
- Article
- 21 Jan 2025
HMRC has made changes to the making tax digital income tax (MTD IT) notices, mainly relating to income from property. The current self assessment reporting relaxation for joint property will not be available to those in MTD IT.
Buyers of residential property to pay more in land tax, warns ICAEW
- Article
- 20 Jan 2025
ICAEW explains why buyers of residential property could face increased liabilities to stamp duty land tax (SDLT), and similar taxes in Scotland and Wales, and highlights an area where mistakes could be made.
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