UK tax rates, allowances and reliefs
ICAEW’s Tax Faculty provides links to help practitioners find the latest tax rates, allowance and reliefs.
Pensions
Expert commentary and practical guidance from ICAEW related to pensions in the UK personal tax regime.
Need to know
In this section
Practical guidance
TAXguide: 06/20 Spring Budget 2020
Rishi Sunak delivered his first Budget of 2020 on 11 March. The Tax Faculty provides its summary of all the key tax announcements in this TAXguide.
TAXguide 01/20 Tax Treaty Briefing September/December 2019
This information is based on the author’s work, Practical International Tax Planning for UK Businesses and is reproduced with the consent of the publishers, Croner-i
TAXguide 17/19 - Pensions - saving and drawing - a roundup of recent changes
This guide is intended as a roundup of some of the changes to registered pension schemes since 2006. It is not intended to be a definitive guide to pensions, more an index alerting the reader to changes that perhaps require further research.
TAXguide 05/15
Company Directors - PAYE Real Time Information. A questions and answers guidance note.
Features and articles
How to avoid breaching the annual and lifetime allowances
Pension saving can deliver valuable tax relief, but breaching a cap can be costly, warns Lindsey Wicks.
L-Day 2021: draft legislation for consultation, but more to come
Draft legislation, consultation updates and promises of future tax measures were made on 20 July. The focus for many will be on basis period reform, but ICAEW’s Tax Faculty highlights the other key announcements.
Tax news in brief
Highlights from the broader tax news week ending 30 June, which includes: pensions schemes and leases to connected tenants, an extended time limit for notifying an option to tax, a reminder to tell HMRC about an EU VAT import one stop shop registration, HM Treasury's launching of the business rates revaluation consultation and HMRC's latest briefing on collecting tax debts.
Tax news in brief
Highlights from the broader tax news week ending 20 January, which includes: HMRC to amend CJRS guidance over annual pay, updates to ICAEW's support on options for self-assessment deadlines, HMRC webinar to help avoid pension scams, and potential VAT implications for Gibraltar post-Brexit.
NHS pensions - Annual allowance compensation scheme 2019/2020
While annual allowance tapering was introduced on 6th April 2016, the full impact began to be felt by clinicians more recently.
Practically speaking: no time for pensions tax relief change
While there are good reasons to fix a problem with pensions tax relief for low earners, ICAEW thinks now is not the time for piecemeal change.
Not the time to alter tax relief on pension contributions
13 October: ICAEW has questioned whether it is the right time to change rules on tax relief on pension contributions which would increase administrative burdens.
Share your experiences of simple assessment
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.
Bloomsbury Core Accounting and Tax Service
Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 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 Core Accounting and Tax Service.
Pension scheme strategies
Advice on tax planning for pension schemes, written for anyone who advises or runs a family or owner-managed company.
Pensions and life assurance
Chapter providing practical advice on pensions and life assurance in relation to inheritance tax planning.
Savings and investments
A full chapter on the taxation of pensions and benefits in the UK, written for tax practitioners.
Providing for pensions and life assurance
Expert guidance on pensions and life assurance taxation in relation to business partnerships.
Pension funds
Chapter providing information for tax advisers on UK tax rules relevant to pension schemes.
Pensions, state benefits and tax credits
A chapter on pensions taxation, containing worked examples.
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