This guidance provides a summary of key tax rates, allowances and reliefs for 2017/18, 2018/19 and 2019/20.
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.
ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax
In light of upcoming changes to the off-payroll working regime, this guidance from the Tax Faculty outlines how to determine whether a private sector client using contractors through an intermediary is ‘small’.
In TAXguide 09/18 Caroline Miskin explains what a simple assessment is and how HMRC is using them to reduce the number of taxpayers from self assessment. Read a summary here, Tax Faculty members can download the full guide.
In TAXguide 04/17 - Offshore trust changes, Sue Moore, technical lead for private client tax matters in the Tax Faculty, provides information on the implications of changes to income tax legislation published on 26 January 2017. In particular the guide offers more details on transfer of assets and settlements legislation and has been created with input from HMRC.
Reforms to the Taxation of Non Domiciles - Meeting notes
Non-domiciliary announcements made at summer budget 2015
Company Directors - PAYE Real Time Information. A questions and answers guidance note.
Guidance on some of the practical points that ICAEW members have encountered on the application of entrepreneurs' relief. Part B of this guidance focuses on technical points, such as the definition of qualifying company and the disposal of settle assets, and has been agreed by HMRC.
Features and articles
20 October: The road to enable agents to see and do everything their MTD clients can before April 2023 is under construction says Roy Wallace, HMRC’s Director of Making Tax Digital.
19 October 2020: HMRC has confirmed to ICAEW’s Tax Faculty why additional agent authorisation is required for Coronavirus Job Retention Scheme (CJRS) compliance checks.
Updated 15 October: Employees required to work from home can have a £6 per week or £26 per month allowance paid tax-free by employers or, during the pandemic, can claim a deduction from earnings for this allowance, HMRC has confirmed.
12 October 2020: HMRC is recalculating top slicing relief on life insurance policy chargeable event gains for 2018/19 but some taxpayers will need to submit an amendment. An HMRC webinar will provide further information.
5 October 2020: ICAEW’s Tax Faculty explains the enhanced payment arrangements announced by the Chancellor for those paying income and capital gains tax via self assessment. HMRC has increased the upper threshold for online applications for time-to-pay to £30,000.
Lindsey Wicks looks at the ramifications of the judgement in Payne & Ors v Revenue & Customs  EWCA Civ 889.
30 September 2020: New guidance from HMRC explains the services available in business tax accounts (BTAs). ICAEW’s Tax Faculty outlines what the account offers.
7 September: ICAEW’s Tax Faculty is meeting with HMRC to discuss its power to issue simple assessments on 11 September and is urging members to share their feedback.
Webinars and recordings
This webinar from the Tax Faculty provides a round up of all the measures that are under review and subject to consultation, and how the faculty will be responding.
An overview of the new off-payroll working rules in the private sector from 5 April 2020
The first in our TAXbite series on off-payroll working, this episode gives a general overview of the rules.
This free TAXbite explains the rules for rent a room relief and how to apply if you or your client qualifies.
Who is obliged to to file a self assessment return and how does the system work for those who don't?
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.
First broadcast 10 November 2016 - In this practical webinar Sarah Ghaffari and Sue Moore will talk through the lifecycle of a trust, highlighting which taxes are payable, when and by whom.
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.
The main aim of this book is to describe the UK taxation system in sufficient depth and with sufficient clarity to meet the needs of those undertaking a first course of study in taxation.
Fully updated guide focusing on each area of the financial statement in detail with illustrative examples. This chapter on accounting for income tax gives a comparison of FRS 102 Section 29 and IFRS, and covers VAT and similar sales taxes, current tax, recognition and measurement of deferred tax, allocation of tax charge or credit, consolidated tax returns and offset of taxable profits and losses within groups, presentation, and disclosure.
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.
Covers chargeable gains for corporation tax purposes, with additional sections on dividends received, payments to charities, distributions, computation of tax liability, losses, groups, and the way corporation tax relates to income tax.
Outlines the tax exemptions for vouchers and credit tokens offered to employees under the Income Tax (Earnings and Pensions) Act 2003. This includes both income tax and class 1 national insurance contributions.
Explains how these assets are defined and valued under the Social Security (Contributions) Regulations 2001 and the Income Tax (Earnings and Pensions) Act 2003. This section is of particular relevance to payroll managers handling benefits in kind.
A long chapter on employment taxation in the UK. Covers NICs, income tax, and all the circumstances where a person may derive income or benefits from their employer.
An overview of taxation of property as it pertains to small businesses in the UK, determined by the Income Tax (Trading and Other Income) Act 2005. This chapter has sections on the basis of assessment, relief for capital expenditure, losses, and furnished holiday lettings (FHLs).
A response dated 30 September 2020 to a consultation published by IASB in December 2019.
A response dated 7 September 2020. ICAEW are pleased to provide evidence to the Treasury Select Committee on its call for evidence on Tax after Coronavirus.
A response dated 19 February 2020 to a consultation published by HMRC on 22 January 2020.
Tax relief for training
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.
<p>The latest videos from HMRC outlining the support for businesses such as the Coronavirus Job Retention Scheme, refunding eligible Statutory Sick Pay costs, furloughed employees and more. HMRC also runs live webinars covering the deferral of VAT and Income Tax payments, the small business grant scheme and Coronavirus Business Interruption Loan Scheme.</p>
<p>Government portal listing the full range of support measures available for UK businesses with information on how to access financial support packages, who is eligible, when the schemes open and how to apply. These cover the Coronavirus Business Interruption Loan Scheme; business rates holiday and cash grants for retail, hospitality and leisure; small business grant funding; SSP rebate; VAT and income tax deferral. There is additional separate guidance for businesses in <a href="https://www.gov.uk/guidance/coronavirus-covid-19-information-for-individuals-and-businesses-in-scotland">Scotland</a>, <a href="https://www.gov.uk/guidance/coronavirus-covid-19-information-for-individuals-and-businesses-in-wales#businesses">Wales</a> and <a href="https://www.gov.uk/government/news/covid-19-guidance-information-for-ni-businesses-employers">Northern Ireland</a>.</p>
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.
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.
Guidance on taxable investments explaining how dividends are taxed, including the dividend allowances in each tax year and the tax rate on dividends over your allowance. It also provides guidance on the different rules for dividends before 6 April 2016.
Guidance aimed at taxpayers covering UK residence and tax, non-domiciled residents, paying tax on foreign income, exemptions, claiming tax relief, and tax for foreign students in the UK.
Official information on devolved taxes in Wales with links to further guidance on and rates for Landfill Disposals Tax, Land Transaction Tax, and income tax.
Articles on employment taxes from Taxation magazine. Full articles available to subscribers or through the ICAEW Library & Information Service.
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