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The latest news about the UK's tax system, policy changes and legislative updates brought to you by ICAEW's Tax Faculty.
If you missed any Tax Faculty webinars, you can listen to the recordings and access their resources below, as well as register for upcoming webinars.
TAXbites provide a brief reminder of the basics on popular topics. Each recording lasts around 10 minutes and is freely available for all to view
Analysis, insights, guides and resources on the coronavirus pandemic and its impact.
Meet the dedicated experts at the heart of the Tax Faculty, who work to ensure ICAEW's members are kept up to date with the latest developments in tax policy and practice.
ICAEW Tax Faculty technical committee.
A letter is being sent to over 500 agents asking them to check whether all sales of clients in the hot food sector are being recognised for VAT, income tax and corporation tax purposes.
HMRC has launched a new service for taxpayers to voluntarily disclose any unpaid tax on cryptoassets, such as exchange tokens, non-fungible tokens, and utility tokens.
A European Commission regulation ensures that a UK-resident platform hosting EU-resident sellers may only need to report data to HMRC.
ICAEW’s Tax Faculty highlights the key measures included in the Autumn Finance Bill and the NIC Bill.
TAXline is the monthly newsletter of practical insights and articles for Tax Faculty members. All ICAEW members can access the most recent TAXline content from the faculty on our online hub, organised by subject area.
In this issue, Ed Saltmarsh examines VAT tribunal findings in the Innovative Bites case, Angela Clegg examines practical steps for managing the uncertainty within the tax policy environment and Tina Riches recounts her climb on Kilimanjaro to raise money for Tax Aid and Tax Help for Older People.
In this issue, Lindsey Wicks highlights some of the issues likely to be raised as part of the OTS review, Angela Clegg examines the tough landscape for landlords with tax relief restriction and Anita Monteith discusses the traded instruments sprouting from the ambition to achieve net zero.
In this issue, Caroline Miskin explains HMRC’s proposals to expand the data it collects, Peter Ferrigno and Matt Snowdon discuss the tax treatment and implications of participation in non-UK pension schemes and Lindsey Wicks summarises a study from the Organisation for Economic Co-operation and Development.
Two new forms are required when making claims for research and development (R&D) tax relief. While the additional information form is required for all R&D claims, advance notification will also be required for some.
Pillar two is part of a package of initiatives agreed at OECD level by territories worldwide to tackle the challenges of taxing multinational enterprises (MNEs) cross-border. In the UK, it will be known as the multinational top-up tax and domestic top-up tax that will apply for accounting periods beginning on or after 31 December 2023.
Explaining top ups for low earners in net pay arrangement schemes and the digitalisation of top up claims by pension scheme administrators for relief at source pension schemes.
ICAEW's Tax Faculty hosted a payroll and rewards webinar on 16 April 2023. This TAXguide shares to the answers raised at that webinar covering topics such as rates, thresholds, payroll, P11Ds, pension contributions and residence.
Webinars, videos and podcasts
This webinar from the Tax Faculty will explore current issues relating to capital allowances.
This webinar from the Tax Faculty covers recent and upcoming changes in Payroll, Rewards and Employment taxes.
This webinar will provide a practical overview of the changes to Research and Development tax relief regime in the UK, and what that might mean for you or your clients.
The Tax Faculty's essential Budget 2023 round-up webinar.
ICAEW welcomes the opportunity to provide evidence on the Draft Finance Bill 2023-24 to the House of Lords Economic Affairs Finance Bill Sub-Committee.
A representation dated 13 October 2023 to a consultation published by HM Treasury ahead of the Autumn Statement taking place on 22 November 2023.
A representation dated 11 October 2023 to a consultation published by HM Treasury and HM Revenue & Customs on 20 July 2023.
The future of tax
As digital technologies transform the worlds of work and leisure, the UK government grapples with balancing the books while ensuring its tax system is fit for purpose. As HMRC launches its review of the system that underpins the tax system, we take a look at the pressing issues and challenges.
The government has moved swiftly to consult on draft legislation to reform basis period rules before MTD ITSA becomes mandatory. ICAEW is concerned that changes will be rushed through and disappointed that the normal consultation process is not being followed.
ICAEW welcomes HMRC’s vision of a more flexible and responsive tax system outlined in the Tax Administration Framework Review but warns that significant challenges, such as creating a single identifier for taxpayers and consolidation of tax systems, can only be met if HMRC is properly resourced.
A single identifier for individuals and smoother registration processes are pre-requisites for a better tax system, argues ICAEW. HMRC also needs funding to develop an improved process for registering, authenticating and authorising agents.
ICAEW considers HMRC’s call for evidence on timely payment to be premature, as earlier payment of income and corporation tax would reduce businesses’ flexibility to manage their cashflow.