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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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Economy explainers: what is income tax?

Political debates often discuss income tax, but what is it? ICAEW experts describe what income tax covers, how it is calculated and what the marginal rate is.
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TAXguide 01/25: MTD income tax

Making tax digital (MTD) for income tax is being phased in from April 2026. ICAEW's Tax Faculty outlines the requirements and how the system will work.
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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 02/25: Payroll rates, allowances and thresholds in 2025/26
  • Technical release
  • 13 Mar 2025
PAYE rates, thresholds, allowances, etc for employers in 2025/26 covering income tax, NIC, reliefs and levies, statutory payments, pensions, student loans, NMW/NLW rates and car/van/fuel benefits-in-kind.
Exclusive TAXguide 06/24: Taxation of cars, vans and fuel Q&As
  • Technical release
  • 29 May 2024
Answers are provided in this TAXguide to questions asked in ICAEW's webinar on the taxation of cars and vans, including electric vehicles and fuel.
Exclusive TAXguide 04/24: The cash basis for trades: Q&As
  • Technical release
  • 08 May 2024
ICAEW's Tax Faculty hosted a webinar on 18 April 2024 explaining the cash basis for the self-employed, including the changes that apply from the 2024/25 tax year. Answers to questions asked during the webinar are provided in this TAXguide.
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.
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Features and articles

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.
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Webinars and recordings

Get MTD ready with Sage: Plan it. Price it. Package it.
  • Webinar
  • 12 Jun 2025
MTD for Income Tax is getting real - and now’s the time to take control. This session with Sage will help you get MTD ready by breaking it down into three simple steps: plan what you’ll offer, price it fairly (for you and your clients), and package it in a way that makes sense.
MTDtalk – June 2025
  • Webinar
  • 02 Jun 2025
Join us for the latest information and guidance on MTD for income tax.
Personal tax — Spring update
  • Webinar
  • 21 May 2025
This webinar provides a comprehensive update on private client tax changes over the past 12–18 months, covering key developments in income tax, employment tax, CGT, IHT, and Making Tax Digital.
MTD Live: MTD income tax – why and when?
  • Webinar
  • 16 May 2025
Learn more about the background of MTD, how the requirements will work and hear from software developers explaining how their products can help.
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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
  • 2025
  • 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 Making tax digital tracker
  • eBook
  • 2025
  • Emma Rawson
  • Making Tax Digital Tracker
The Tracker provides plain English guidance on the operation of MTD, with sections covering VAT, income tax, corporation tax and tax agents in relation to MTD. Includes information on penalties which may be imposed for non-compliance with the MTD regime, as well as the appeals process.
Exclusive Bloomsbury's tax rates and tables 2025/26: Budget Edition
  • eBook
  • 2025
  • Lucy Webb
Tax rates and tables updated to reflect measures announced in the Autumn Budget on 30 October 2024 and changes proposed in Finance Bill 2024-25.
Exclusive Income tax and cessations
  • eBook chapter
  • 2024
  • 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.
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 Benefits in kind
  • eBook chapter
  • 2024
  • Malcolm James
  • Taxation of Small Businesses
A full chapter covering benefits in kind under the UK employment tax system. Includes a range of sample tax calculations with subsections on valuation of benefits, NICs, salary sacrifice, vouchers and tokens, and more.
Exclusive Employment income
  • eBook chapter
  • 2024
  • Malcolm James
  • Taxation of Small Businesses
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.
Exclusive Employment and self-employment
  • eBook chapter
  • 2024
  • Malcolm James
  • Taxation of Small Businesses
This chapter outlines UK employment taxation as it functions in the UK, with particular relevance to small businesses. It includes sections on the definition of self-employment, agency workers, non-executive directors (NEDs), national insurance contributions and the taxation of intermediaries.
Exclusive Trading losses
  • eBook chapter
  • 2024
  • Malcolm James
  • Taxation of Small Businesses
A chapter detailing the ways in which trading losses may be relieved, aimed at small businesses in the UK. Reference is made to relevant legislation, including the Income Tax Act 2007.
Exclusive Property income
  • eBook chapter
  • 2024
  • Malcolm James
  • Taxation of Small Businesses
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 and other legislation. This chapter has sections on the basis of assessment, relief for capital expenditure, losses, and furnished holiday lettings (FHLs).
Exclusive Taxation of trading income
  • eBook chapter
  • 2024
  • Malcolm James
  • Taxation of Small Businesses
Chapter on the taxation of trading income which starts with the statutory definition of trading and goes on to look at a list of potential expenditure from repairs to websites. Key cases are referenced throughout the text, as well as the specifics of the Income Tax (Trading and Other Income) Act 2005.
Exclusive Partnerships
  • eBook chapter
  • 2024
  • Malcolm James
  • Taxation of Small Businesses
A full chapter on the taxation of partnerships, including limited partnerships and LLPs. It focuses mainly on Income Tax, but includes a detailed subsection on Capital Gains Tax.
Exclusive Special classes of taxpayers
  • eBook chapter
  • 2024
  • Malcolm James
  • Taxation of Small Businesses
This chapter covers the schemes, reliefs and special rules pertaining to classes of taxpayers not covered elsewhere in this work. This includes the Construction Industry Scheme and rules for small businesses, charities, clubs and societies and various types of occupations.
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.
Tolley's yellow tax handbook, 2025-26
  • Library book
  • 2025
  • 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, 2025-26
  • Library book
  • 2025
  • P. McNeill
  • 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.
The UK tax system: an introduction, 5th ed.
  • Library book
  • 2025
  • M. James
  • Spiramus
A guide to the UK tax system for tax practitioners and students. This fifth edition has been revised to reflect the law as of January 2025.
Taxation of partnerships: a practical guide, 3rd ed.
  • Library book
  • 2025
  • P. Howard
  • Claritax
A practical guide to the tax issues and principles which apply to different types of partnership, including LLPs, limited partnerships and partnerships with corporate members. It covers all the key taxes – income tax, capital gains tax, SDLT, corporation tax – as well as complex areas such as mergers and demergers, incorporations, and losses.
Tolley's UK taxation of trusts, 2024-25
  • Library book
  • 2024
  • 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, 2024-25
  • Library book
  • 2024
  • 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.
How to save property tax, 2024-25
  • Library book
  • 2024
  • C. Bayley
  • Taxcafe UK
Tried and tested tax saving ideas which will help you pay less income tax, capital gains tax and stamp duty land tax on your property investments.
Tolley's tax guide, 2024-25
  • Library book
  • 2024
  • S. Maxwell, J. Houghton
  • LexisNexis
An annual single-volume guide to various aspects of taxation in the UK. Includes sections on employment, pensions, trading, family, trusts, estates and more. Points are illustrated with worked examples and clear tables.

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 039/25 Better use of new and improved third party data
  • Representation
  • 21 May 2025
  • PDF (233kb)
A representation dated 21 May 2025 to a consultation published by HMRC on 26 March 2025.
ICAEW REP 030/25 Reforms to inheritance tax reliefs: Consultation on property settled into trust
  • Representation
  • 29 Apr 2025
  • PDF (555kb)
A representation dated 23 April 2025 to a consultation published by HMRC on 27 February 2025.
ICAEW REP 019/25 Mandatory Payrolling of Benefits in Kind
  • Representation
  • 19 Feb 2025
  • PDF (344kb)
Questions for HMRC submitted by ICAEW Tax Faculty on 19 February 2025.
ICAEW REP 020/25 Personal tax offshore anti-avoidance legislation call for evidence
  • Representation
  • 18 Feb 2025
  • PDF (540kb)
A representation dated 18 February 2025 to a consultation published by HMRC on 30 October 2024.

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.

Find out if you can get an exemption from Making Tax Digital for Income Tax
  • Website
  • 24 Oct 2024
  • HMRC
Check if you can apply for an exemption from Making Tax Digital for Income Tax in the future.
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.
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