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 0116 Transactions in securities: company distributions
Transactions in securities : company distributions, clearance applications further to draft clause 16, Finance Bill 2016. Exchange of correspondence between ICAEW Tax Faculty and HMRC in January 2016.
TAXguide 02/16 (TECH 06/16 TAX)
Company Distributions : transactions in securities regime and liquidation distributions targeted anti-avoidance rule. Note of meeting with HMRC on 26 January 2016 published by ICAEW Tax Faculty.
TAXguide 07/15
Finance Act 2015 Changes to entrepreneurs' relief
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
Mandatory disclosure rules replace DAC 6 in the UK
Cross-border tax avoidance arrangement disclosure rules devised by the OECD (known as the mandatory disclosure rules, or MDR) will enter into force in the UK on 28 March 2023. Arrangements entered into on or after this date must be reported to HMRC under this regime.
HMRC releases tax avoidance scheme summary
The annual summary for 2020/21 sets out the estimated amount of tax avoidance carried out in the year, the number and nature of promoters involved, and the action that HMRC is taking against it.
HMRC issues disguised remuneration loan charge discovery assessments
ICAEW recommends that taxpayers seek independent advice if they receive an assessment as part of this HMRC campaign.
Report makes recommendations to reduce tax fraud
Joint report by the All-Party Parliamentary Group on Anti-Corruption & Responsible Tax (APPG) and TaxWatch highlights an enforcement gap in HMRC’s handling of the issue.
Tax news in brief 20 July 2022
Highlights from the broader tax news for the week ending 20 July 2022, including: EMI valuations; June 2022 import VAT statements; and tax avoidance litigation decisions.
Tax news in brief 13 April
Highlights from the broader tax news for the week ending 13 April 2022, including: naming tax avoidance scheme promoters; managed service company rules; marginal relief calculator; and a survey on NINOs.
GAAR Advisory Panel seeks new members
HMRC is recruiting three new volunteers to join the General Anti-Abuse Rule Advisory Panel.
Finance Bill 2021-22 receives Royal Assent
Finance Act 2022 received Royal Assent on 24 February 2022, bringing into law various tax measures with effect from that date, including a package of measures designed to tackle promoters of tax avoidance schemes.
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.
Budget update
The Tax Faculty's essential budget webinar.
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.
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.
Remuneration strategies
Chapter containing advice on remuneration strategies and tax planning, written for anyone who advises or runs a family or owner-managed company.
Tax planning versus tax avoidance
Expert commentary on how to draw a line between tax planning, tax avoidance and illegal tax evasion, in relation to capital gains tax.
Serial tax avoiders
A chapter on HMRC powers in relation to serial tax avoiders.
Disclosure of tax avoidance schemes
A chapter on HMRC powers in relation to disclosure of tax avoidance schemes (DOTAS) rules.
Guide to taxpayers’ rights and HMRC powers
Guide to the growing breadth of HMRC powers and the increasingly complex penalty regime for non-compliance.
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.
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
HMRC has 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 010-22 Mandatory disclosure rules
A response dated 8 February 2022 to a consultation published by the government in November 2021.
ICAEW REP 003-22 Welsh Taxes Power to modify Bill 26 Jan 2022
Comments made by ICAEW on 26 January 2022 in relation to the Welsh Tax Acts Etc. (Power to Modify) Bill 2022.
ICAEW REP 85/21 Promoters of tax avoidance schemes
Draft legislation aimed at tackling promoters of tax avoidance schemes includes subjective terms and tests which are open to interpretation, says ICAEW in its response to HMRC's consultation. The terms should be amended or HMRC guidance created outlining its interpretation to avoid confusion.
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.