This guidance provides a summary of key tax rates, allowances and reliefs for 2017/18, 2018/19 and 2019/20.
Expert commentary and practical guidance from ICAEW related to the taxation of property in the UK regime, covering areas such as: ATED (annual tax on enveloped dwellings), business rates and stamp duty land tax.
Guidance from ICAEW's Tax Faculty for practitioners on the latest developments in practice, policy and legislation related to personal tax.
HMRC contact information, including telephone numbers, online options and postal addresses, together with tips.
Tax is a fast-moving and ever-changing world. Our expert staff and volunteers, and consultation work with government, means we can bring you the latest developments and expert opinions. Join today to access our resources and keep on top tax form.
Features and articles
Rebecca Benneyworth, vice chairman of the Tax Faculty, explores the forthcoming changes to capital gains tax on private residences, focusing on the 30-day payment window and giving practical examples.
The AHDB (Agriculture Horticulture Development Board) has some very admirable goals
ICAEW Tax Faculty provides analysis of the announcements relating to tax rates and allowances in the 2018 Budget.
ICAEW Tax Faculty provides analysis of the announcements relating to business and company tax in the 2018 Budget.
ICAEW Tax Faculty provides analysis of the announcements relating to capital taxes and stamp taxes in the 2018 Budget.
Jane Moore summarises the tax announcements from 2018’s Spring Statement.
Jane Moore considers the government’s plan to extend the assessment time limits for offshore non-compliance, detailing the key points to note and the reasons for the change.
Lynnette Bober tackles the complexities of the trust protection rules following changes to the anti-avoidance provisions for non-UK resident trusts introduced by Finance (No. 2) Act 2017 and Finance Act 2018
Finance (No 2) Act 2017 introduced significant changes to the taxation of foreign domiciliaries. TAXguide 08/19 presents questions and draft suggested answers together with comments from HMRC on areas of uncertainty in the statutory provisions covering the extension of inheritance tax to overseas property.
This TAXguide provides guidance on the tax issues connected with let property from the point of view of the landlord. It concentrates on residential property and is aimed at practitioners who are advising individuals who have bought property as an investment, rather than commercial property development businesses. Read a summary here, Tax Faculty members can download the full guide.
Finance (No 2) Act 2017 introduced significant changes to the taxation of foreign domiciliaries. In TAXguide 06/18 ICAEW, STEP, the CIOT and the Law Society have published questions and draft suggested answers to highlight and consider areas of uncertainty in the statutory provisions for trust protections. Read a summary and download the full guide.
Finance (No 2) Act 2017 introduced significant changes to the taxation of foreign domiciliaries. In TAXguide 06/18 ICAEW, STEP, the CIOT and the Law Society have published questions and draft suggested answers to highlight and consider areas of uncertainty in the statutory provisions for rebasing and the changes to the CGT foreign capital losses election. Read a summary and download the full guide.
Reforms to the Taxation of Non Domiciles - Meeting notes
Non-domiciliary announcements made at summer budget 2015
Finance Act 2015 Changes to entrepreneurs' relief
Capital taxes liaison group minutes
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Deals with gift relief for recipients of donations not resident in the UK, as covered by the Taxation of Capital Gains Act 1992.
A short section listing the types of leases not treated as wasting assets for capital gains purposes under the Taxation of Chargeable Gains Act 1992.
Explains how the disposal arising from a grant of lease is treated for the purposes of capital gains tax, with worked examples.
An overview of the treatment of capital gains by partnerships covering distribution of assets in kind amongst partners, changes in profit sharing ratios, adjustment through the accounts, payments outside the accounts, transfers between persons not at arm's length, disposals -annuity payments, shares acquired in stages and roll-over relief.
When the profit ratios of a partnership change it may result in a chargeable gain for CGT purposes, due to the acquisitions and disposals of the incoming and/or outgoing partners. A worked example demonstrates how to calculate the chargeable assets arising from this, and from the revaluation of a partnership asset.
A full chapter on the taxation of partnerships, including limited partnerships and LLPs. The key piece of legislation is the Income Tax (Trading and Other Income) Act 2005.
A short section on the taxable capital gains arising from disposals of assets to shareholders. It has particular relevance to firms undergoing disincorporation and/or liquidation.
Aimed at traders incorporating a business, this section deals with the way gift relief and incorporation relief apply under the Taxation of Chargeable Gains Act 1992. It is of particular relevance to sole traders.
ICAEW's Tax Faculty responds to the Capital gains tax: Payment window for residential property gains (payment on account) consultation published by HMRC 11 April 2018
Taxing gains made by non-residents on UK immovable property
Traffic light assessment autumn budget 2017
Reforms to the taxation of non-domiciliaries and offshore trusts – general
Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.
Policy paper setting out HMRC's view on how individuals who have cryptoassets (or cryptocurrency) are taxed. It explains what cryptoassets are, which taxes apply with detailed discussion of income tax and capital gains tax, cryptoassets received as earnings, and record keeping.
Helpsheets providing advice on how to report capital gains when filing Self Assessment tax returns. These cover information about reliefs, shares, business assets, trusts, debt, and other specific topics.
List of shares or securities formerly quoted on the London Stock Exchange which have been declared of Negligible Value for share and asset valuation.
Guidance, forms and manuals relating to Shares and Assets Valuation (SAV) , including detailed information on how valuations are made for CGT and tax purposes of assets such as unquoted shares.
Comprehensive hub pointing to guides on CGT covering property, personal possessions, shares and investments, business, divorce and separation, and how to pay CGT.
An overview giving information and guidance on types of trusts, how trusts are treated for income tax, CGT and inheritance tax purposes, tax for trust beneficiaries, and the tax reponsibilities of trustees.
Annually updated helpsheet explaining the relief available on the disposal of a private residence. Sections cover who qualifies, CGT for non-residents, Letting Relief, calculating partial relief, residence for a dependent relative, and disposal of a settled property by trustees.
HMRC internal manual providing guidance on private residence relief, including definitions, computation, and division of residence on separation or divorce.
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