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Income tax

Expert commentary and practical guidance from ICAEW related to income tax in the UK personal tax regime.

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Exclusive

MTD income tax self assessment

Making Tax Digital income tax self assessment is being phased in from April 2026. ICAEW's Tax Faculty outlines how the system is likely to work and the progress of the testing.
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TAXguide 09/18: simple assessment

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.
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TAXguide 04/18: Residence and domicile

In TAXguide 04/18 Lisa Spearman provides an introduction to the taxation issues which may be in point when considering the non UK aspects of a client’s affairs. Read a summary here, Tax Faculty members can download the full guide.
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TAXguide 01/23: Payroll rates, allowances and thresholds in 2023/24

PAYE rates, thresholds, allowances, etc for employers in 2023/24 covering income tax, NIC, reliefs and levies, statutory payments, pensions, student loans, NMW/NLW rates and car/van/fuel BIK.
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Practical guidance

ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax.

TAXguide 03/24: Payroll rates, allowances and thresholds in 2024/25
  • Technical release
  • 08 Apr 2024
PAYE rates, thresholds, allowances, etc for employers in 2024/25 covering income tax, NIC, reliefs and levies, statutory payments, pensions, student loans, NMW/NLW rates and car/van/fuel BIK.
Exclusive TAXguide 02/2024: Taxation of cryptoassets for businesses
  • Technical release
  • 28 Feb 2024
TAXguide covering the UK taxation of cryptocurrency held by businesses including corporation tax, stamp taxes, employment income and VAT.
Exclusive TAXguide 01/2024: Taxation of cryptoassets for individuals
  • Technical release
  • 28 Feb 2024
TAXguide covering the UK taxation of cryptocurrency held by individuals including charges to capital gains tax and income tax.
TAXguide 01/23: Payroll rates, allowances and thresholds in 2023/24
  • Technical release
  • 05 Apr 2023
PAYE rates, thresholds, allowances, etc for employers in 2023/24 covering income tax, NIC, reliefs and levies, statutory payments, pensions, student loans, NMW/NLW rates and car/van/fuel BIK.
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Features and articles

Only five software products ready for MTD ITSA testing
  • Article
  • 09 Apr 2024
Just five software products will be available at the launch of MTD ITSA private beta testing on 22 April.
HMRC publishes extra guidance on lifetime allowance abolition
  • Article
  • 09 Apr 2024
HMRC has published additional guidance for pension scheme administrators on a range of issues, including the abolition of the lifetime allowance.
New penalty regime to apply to taxpayers testing making tax digital
  • Article
  • 08 Apr 2024
HMRC has explained how penalties will be charged where volunteers testing making tax digital income tax self assessment are late in making a payment or submitting a return.
Exclusive Ways to tackle tax threshold unfairness
  • Article
  • 04 Apr 2024
Patricia Mock and Sally Campbell, co-authors with Bill Dodwell of a recent Tax Law Review Committee discussion paper, consider a range of principles to help inform future tax policy.
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Webinars and recordings

Exclusive MTDtalk April 2024
  • Webinar
  • 24 Apr 2024
The latest information and guidance on Making Tax Digital income tax self assessment (MTD ITSA) from the Tax Faculty.
Exclusive Expanding the cash basis
  • Webinar
  • 18 Apr 2024
This webinar from the Tax Faculty will run through the basics of the cash basis and what is changing from 6 April 2024
Payroll and rewards 2024 webinar slides
  • Webinar
  • 12 Apr 2024
  • PDF (1,677kb)
Slides accompanying the Tax Faculty Payroll and Rewards webinar, broadcast on 10 April 2024.
Company cars webinar 28 02 2024
  • Webinar
  • 29 Feb 2024
  • PDF (765kb)
Accompanying slides for the Taxation of company cars webinar broadcast on 28 February 2024.
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Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising around 80 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.

Exclusive Taxation
  • eBook chapter
  • 2024
  • Steve Collings
  • Financial Reporting for Unlisted Companies in the UK and Republic of Ireland
A chapter providing practical guidance on issues surrounding taxation for financial reporting under UK GAAP.
Exclusive Income Tax
  • eBook chapter
  • 2023
  • Ben Hancock, Helen Hargreaves, Tim Kelsey, Mike Nicholas, Kate Upcraft, Val Woodland
  • Payroll Management
Detailed legal and best-practice information on UK income tax on earnings from employment and pensions, written for payroll managers.
Exclusive Income tax and cessations
  • eBook chapter
  • 2023
  • Jackie Anderson, Mark McLaughlin
  • Incorporating and Disincorporating a Business
A full chapter providing detailed guidance on income tax and business cessations, covering the tax issues, planning points and pitfalls which may be encountered.
Exclusive Income tax 2023/24
  • eBook
  • 2023
  • John Hiddleston Azets
Annual guide covering the day-to-day issues most frequently encountered by tax practitioners, with worked examples and references to relevant legislation and case law. This new edition has been updated throughout for 2023/24 income tax rates and allowances introduced by Finance (No.2) Act and the Budget (Scotland) Act 2023.
Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.

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eBooks

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 library@icaew.com.

Exclusive Individual income tax
  • eBook chapter
  • 2023
  • IBFD
A detailed section on Income Tax and Capital Gains Tax in the UK. Includes coverage of taxable persons, taxable income (including capital gains), deductions, allowances, exemptions, reliefs, credits, the treatment of losses, rates, and administration.
Exclusive The Telegraph Tax Guide 2023
  • eBook
  • 2023
  • Telegraph Media Group
Covers everything you need to know about completing a self-assessment tax return for the 2022/23 financial year.
Exclusive Interest payments and other outgoings
  • eBook chapter
  • 2023
  • Telegraph Media Group
A chapter setting out the opportunities for claiming tax relief on interest paid on borrowings, and for making tax-efficient gifts to charity. The author gives tax saving tips, and illustrates points with real-world examples.
Exclusive Savings and investment income
  • eBook chapter
  • 2023
  • Telegraph Media Group
A chapter covering the tax treatment of various forms of savings and investment income, such as bank interest, share and unit trust dividends, rents, and income from trust funds. The author gives tax saving tips, and illustrates points with real-world examples.
Exclusive Tax rates and allowances
  • eBook chapter
  • 2023
  • Telegraph Media Group
A chapter detailing the income tax rates and allowances for the fiscal year 2022/23. The author gives tax saving tips, and illustrates points with real-world examples.
Exclusive Residence and domicile
  • eBook chapter
  • 2023
  • Telegraph Media Group
A chapter covering the concepts of residence and domicile, and their respective implications for an individual’s liability to Income Tax, Capital Gains Tax, and Inheritance Tax in the UK. The author gives tax saving tips, and illustrates points with real-world examples.
Exclusive Working for yourself
  • eBook chapter
  • 2023
  • Telegraph Media Group
A chapter covering various tax matters relevant to those who run their own business (other than through a company or in partner­ship). Includes a consideration of record-keeping, accounts, taxable business profits, business expenses, allowances and reliefs, losses, and more.
Exclusive State and private pensions
  • eBook chapter
  • 2023
  • Telegraph Media Group
A chapter covering the tax treatment of income from state and private pensions, and the payment of pension contributions. The author gives tax saving tips, and illustrates points with real-world examples.
Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

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Articles and books in the ICAEW Library collection

The collection of the ICAEW Library & Information Service includes a range of articles, books and reports on income tax. A selection of recent books covering this topic is set out below.
Effective profit extraction from a company
  • Library book
  • 2024
  • Tolley Tax Team
  • LexisNexis
A Tax Digest exploring the factors that one ought to consider when choosing a profit extraction strategy. The authors consider both the immediate tax impacts of particular strategies, and their potential commercial, legal or long-term implications.
Salary versus dividends: and other tax efficient profit extraction strategies, 24th ed.
  • Library book
  • 2023
  • N. Braun, C. Bayley
  • Taxcafe UK
This tax guide deals primarily with the 2023/24 tax year, providing information on how companies and company owners are taxed, how to extract more income tax efficiently, keeping income below the key thresholds, splitting income with your family, other profit extraction strategies and salary and dividend practical tax issues.
Tolley's tax computations, 2023-24
  • Library book
  • 2023
  • Tolley's Editorial Team
  • LexisNexis
An annual volume presenting over 500 up-to-date examples illustrating the practical operation of the main UK taxes, as well as national insurance contributions. Includes detailed explanatory notes with full references to relevant statutes and HMRC material.
Tolley's UK taxation of trusts, 2023-24
  • Library book
  • 2023
  • I. Maston
  • LexisNexis
An annual book covering the taxation of both onshore and offshore trusts. Includes a consideration of income tax, capital gains tax, and inheritance tax as they respectively apply to trusts. Worked examples are included to clarify complex points.
Tolley's taxwise, 2023-24
  • Library book
  • 2023
  • T. Agnew, et al.
  • LexisNexis
An annual two-volume set offering practical expert guidance on how to approach real-world tax computations. Brings together relevant points from current legislation, case law and other official material. Worked examples and detailed explanatory notes are included to illustrate complex points.
Discovery assessments: how to challenge them, 4th ed.
  • Library book
  • 2023
  • K. Gordon
  • Claritax
This book covers the various issues relating to discovery assessments, with a focus on how they apply to income tax and capital gains tax. It provides a clear and comprehensive guide to the rules concerning discovery assessments, and sets out practical advice as to how such assessments may be challenged.
Tolley's yellow tax handbook, 2023/24
  • Library book
  • 2023
  • A. Redston (ed.)
  • LexisNexis
Annual multi-volume work bringing together the fully amended and annotated text of all legislation and official material relating to income tax, capital gains tax, corporation tax, national insurance contributions, tax credits, petroleum revenue tax and inheritance tax. Includes footnotes indicating amendments to legislation, and cross-references to the HMRC Manuals.
Tolley's income tax, 2023-24
  • Library book
  • 2023
  • D. Smailes
  • Tolley
An annual book providing in-depth but straightforward coverage of statute law, regulations, case law and HMRC practice relating to income tax. It is arranged by subject, with various aspects of income tax law and practice being covered in turn. Worked examples are included to clarify complex points.

To find out how you can borrow books from the Library please see our guide to borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

Representations

ICAEW REP 008-24 Draft legislation income tax (digital requirements) (amendment) regulations 2024
  • Representation
  • 12 Jan 2024
  • PDF (298kb)
A representation dated 12 January 2024 to a consultation published by HM Revenue & Customs on 7 December 2023.
ICAEW REP 107-23 Autumn Statement 2023
  • Representation
  • 16 Oct 2023
  • PDF (266kb)
A representation dated 13 October 2023 to a consultation published by HM Treasury ahead of the Autumn Statement taking place on 22 November 2023.
ICAEW REP 104-23 Evidence to PAC Inquiry
  • Representation
  • 11 Oct 2023
  • PDF (220kb)
Evidence submitted to the Public Accounts Committee on 11 October 2023, following the call for evidence published on 27 July 2023.
ICAEW REP 054-23 PAC inquiry - Progress with making tax digital
  • Representation
  • 22 Jun 2023
  • PDF (182kb)
A representation dated 7 June 2023 to a consultation published by the Public Accounts Committee on 16 May 2023.

Useful links

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.

Self Assessment: detailed information on GOV.UK
  • Website
  • 27 Nov 2023
  • GOV.UK
Information, guidance and forms relating to various aspects of the Self Assessment system.
Income Tax: detailed information on GOV.UK
  • Website
  • 27 Nov 2023
  • GOV.UK
Information on allowances and reliefs, tax codes, employment, company benefits and share schemes.
Income tax explained
  • Website
  • 22 Nov 2023
  • Institute for Fiscal Studies
Information from the Institute for Fiscal Studies about income tax in the UK, covering: the kinds of income that are subject to income tax; rates, bands and allowances; the treatment of savings, investments and pensions; devolution; and administration.
Making Tax Digital for Income Tax hub
  • Website
  • 10 Feb 2020
  • HMRC
Collection of guides for agents and businesses on signing up and using MTD for income tax, including a list of compatible software available now.
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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.

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TAXconnect works on a telephone ‘hotline’ system, whereby consultants offer advice to Tax Faculty members on a range of tax problems for a nominal fee.

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