Tax Round-up 2020
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.
Tax avoidance
Expert commentary and practical guidance from ICAEW related to tax avoidance and ensuring compliance with UK tax regime.
Need to know
In this section
Practical guidance
ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax.
TAXguide 11/18: the settlements legislation
In TAXguide 11/18 Sarah Godfrey explores the settlements legislation and what it means for the family business, the Arctic Systems case and HMRC’s views of the rules as they currently apply.
TAXGUIDE 02/16
Company distributions - transactions in securities regime and liquidation distributions targeted anti-avoidance rule
TAXGUIDE 01/16
Transactions in Securities: Company Distributions
TAXguide 07/15
Finance Act 2015 Changes to entrepreneurs' relief
TAXguide 03/14
Partnerships - salaried members rules for LLPs
TAXguide 05/13
HMRC Comments on treatment of liabilities for inheritance tax purposes
TAXguide 05/12
Guidance on Aggressive tax avoidance schemes – what you need to bear in mind
Features and articles
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 16 June, which includes: G7 leaders backing global tax commitment; a word of caution on deeds of assignment; guidance on tax avoidance using unfunded pension arrangements; VAT liability of daycare services; and more support on heritage assets.
Rethinking EU business tax: Commission sets out new agenda
A new paper adopted by the European Commission sets out plans to promote a robust, efficient and fair business tax system in the EU, supporting post-pandemic recovery and boosting public revenues in the future.
A guide to the Finance Bill 2021
Lindsey Wicks provides a summary of key measures outlined in Finance Bill 2021.
NIC Bill confirms reliefs for Freeports and broadening of DOTAS
The government has published the National Insurance Contributions Bill, which legislates reliefs for employers of veterans and those operating in Freeports, as well as for the self-employed isolating due to COVID-19. The Bill will also enable upcoming changes to the DOTAS scheme to apply to national insurance avoidance.
ICAEW urges members to be aware of mini-umbrella companies
HMRC has issued new guidance on the fraudulent activities of so-called ‘mini-umbrella companies’ sometimes created to avoid paying tax and national insurance. ICAEW’s Tax Faculty calls on members to ensure they are informed.
Tax news in brief
Highlights from the broader tax news week ending 5 May, which includes HMRC publishing guidance on working through an umbrella company and updating guidance accompanying its CEST tool.
HMRC consults on mandating PII for tax advisers
As part of its work to raise standards in the tax advice market, HMRC is seeking views on its proposal to require tax advisers hold professional indemnity insurance and on a potential enforcement regime.
Webinars and recordings
Managing tax risks in a complex world
Join BDO’s James Egert, Karen Riley, Steven Levine and Carrie Rutland as they take a high-level overview of the key risks that companies face in making disclosures, submitting accurate returns and applying the law correctly.
Tax Round-up 2020
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.
Disguised remuneration, contractor loans and the 2019 charge
Since our original webinar in August 2018, several key milestones have passed, more is now known about the information which must be provided, the potential penalties and what help is available. In this webinar, Rebecca Benneyworth reprises the earlier recording and brings viewers up to date.
Employee benefit trusts and contractor loan schemes - what are the options?
Do you have clients with outstanding loans from employee benefit trusts (EBTs) relating to disguised remuneration? Were any involved in contractor loan schemes? Has a settlement been agreed with HMRC?
TAAR very much - Reconstructions and winding up
First broadcast on 1 December 2018. In this webinar Sarah Ghaffari will be joined by Pete Miller to discuss the tax implications of corporate reconstructions, from the tax treatment of distributions to stamp duty charges.
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.
Contentious tax planning enquiries
Guidance on enquiries which are more likely to result in a significant dispute with HMRC, to help practitioners with tax administration and compliance.
Tackling 'tax avoidance'
A chapter on HMRC's powers in relation to tax avoidance, to help practitioners with tax administration and compliance.
Remuneration strategies
Chapter containing advice on remuneration strategies and tax planning, written for anyone who advises or runs a family or owner-managed company.
Selling the owner-managed business or company
Tax planning advice on selling a family or owner-managed company, written for anyone who advises or runs one.
EU DAC 6 - the EU Mandatory Disclosure regime
A chapter giving an overview of the EU Directive on Mandatory Disclosure rules, 'DAC 6', in this practical guide to the automatic exchange of information rules legislation within the UK.
Serial tax avoiders
A chapter on HMRC powers in relation to serial tax avoiders.
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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.
What everyone needs to know about tax
A straightforward explanation of tax and the policy behind it for non-specialists, with coverage of recent controversies and illustrative case studies.
Anti-avoidance
HM Revenue & Customs and the government have recently taken a more aggressive stance on tax avoidance schemes, even though the schemes do not conflict with the letter of the law. This has taken the form of a general anti-avoidance rule (GAAR), regulations on transfer pricing, disclosure stipulations and stiffer penalties for non-compliance.
Anti-avoidance
HM Revenue & Customs and the government have recently taken a more aggressive stance on tax avoidance schemes, even though the schemes do not conflict with the letter of the law. This has taken the form of a general anti-avoidance rule (GAAR), regulations on transfer pricing, disclosure stipulations and stiffer penalties for non-compliance.
UK tax system: an introduction, The (3rd edition)
Guide to the UK tax system for tax practitioners and students.
VAT and property : guidance on the application of VAT to UK property transactions and the property sector
A practical guide to applying VAT to UK property transactions.
Tax havens today: the benefits and pitfalls of banking and investing offshore
How to reduce taxes by moving your business offshore.
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.
Representations
ICAEW REP 57/21 Raising standards in the tax advice market: professional indemnity insurance and defining tax advice
A response dated 11 June 2021 to a consultation published by HMRC on 23 March 2021.
ICAEW REP 42/21 F2B19-21 clause 122 financial institution notices
Briefing submitted to MPs on 12 April 2021 on Finance (No.2) Bill 2019-21 published by government on 11 March 2021 on clause 122 which relates to financial institution notices.
ICAEW REP 109/20 International regulatory cooperation
A response dated 25 November 2020 to a consultation published by BEIS on 2 September 2020.
ICAEW REP 93/20 Tax devolution in Wales: enabling changes to the Welsh Tax Acts
A response dated 15 October 2020 to a consultation published by the Welsh government on 16 July 2020.
ICAEW REP 88/20 Finance Bill 2020-21 : Tax avoidance measures and new tax checks
A response dated 9 October 2020 to a consultation published by HoL on 21 July 2020.
ICAEW REP 79/20 Tackling disguised remuneration tax avoidance
A response dated 30 September 2020 to a consultation published by HMRC on 21 July 2020.
ICAEW REP 69/20 Tackling promoters of tax avoidance
A response dated 15 September to a consultation published by HMRC on 21 July 2020.
ICAEW REP 45/20 Response to the Call for Evidence on the tax services market
ICAEW's Tax Faculty responds to HMRC's call for evidence on raising standards in the tax advice market, arguing that the best approach is for HMRC to work with the professional bodies behind PCRT to improve standards, alongside taking steps to stop unscrupulous promoters of tax avoidance schemes and highlighting the importance of using a professionally qualified adviser.