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
Lynnette Bober, deputy chairman of the Tax Faculty’s Private Client Committee, explains the 2017 changes affecting foreign domiciliaries and trusts and how we got there.
Robin Williamson provides some advice on what personal representatives need to know when it comes to income tax and capital gains on estates of the deceased. He goes into detail about the tax position of the personal representatives, notifiying HMRC, penalties, CGT private residence relief, marriage allowance, and the position of the survivor
Robert Lillycrop considers how to determine the capital gains tax base cost of an inherited asset, including practical steps to help you
Gillian Banks of PwC considers the First-tier Tribunal case of Higgins v HMRC (2017), which dealt with how to determine the period of occupation for private residence relief purposes
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
Lindsey Wicks goes into minute detail on the content of Finance Act 2017. This includes income tax, corporation tax, employee shareholder shares, disguised remuneration, indirect taxes, tax avoidance, the soft drinks industry levy, plus what might be to come in the next Finance Bill.
Julie Butler explains the tax rules that apply when selling small parcels of farm land, including when there is potential for investment business such as glamping or weddings
What happens to the wealth of a person who does not leave a will? What if their will cannot be found? Who does the remaining wealth go to? What happens if a person leaves their wealth to a partner who has died before them?
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
Legitimate expectation and reliance on HMRC Guidance - the minutes of two meetings between concerned external stakeholders and HMRC on Mansworth v Jelley and general surrounding issues.
The Library & Information Service provides a collection of eBooks as a benefit of membership. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact firstname.lastname@example.org.
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.
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.
ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.