Find out more about the Tax Faculty and upcoming events. Faculty members can access exclusive content, including TAXline, TAXguides, webinars, representations and support schemes.
From the 2023/24 tax year onwards, the self assessment (SA) threshold for taxpayers taxed through PAYE only, will rise to £150,000.
The unanimous agreement paves the way for greater co-operation between member states to reduce opportunities for tax avoidance and tax fraud using crypto assets, by amending the directive on administrative co-operation in the area of taxation (DAC).
The Tax Faculty takes part in many HMRC engagement forums, one of which is the additional needs working group (ANWG). The ANWG enables dialogue between HMRC and interested parties regarding taxpayers and agents who may need additional support to access HMRC services.
The Tax Faculty expresses concern that the proposed output VAT liability would fall on the wrong person.
All TAXline articles and features from January 2023 onwards can be found in our new online hub.
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.
The rates of research and development (R&D) tax relief have changed for expenditure incurred on or after 1 April 2023. In addition, the change in corporation tax rates from the same date means that the results for periods spanning 1 April 2023 must be time apportioned. This TAXguide uses examples to demonstrate the interaction of these changes.
The reintroduction of two rates of corporation tax from 1 April 2023 means that the associated company rules now apply. This TAXguide provides a high-level guide to the associated company rules.
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.
2023 TAXguides published by ICAEW Tax Faculty.
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.
In this webinar, Thomas Brown of HMRC and Richard Jones of ICAEW's Tax Faculty share the latest developments on the transition to a fiscal year basis of taxation for all unincorporated businesses (basis period reform) as we move towards the transitional year of 2023/24.
A representation dated 22 May 2023 to a consultation published by the Financial Reporting Council in April 2023.
A representation dated 17 May 2023 to a consultation published by HM Revenue and Customs on 29 March 2023.
A representation dated 12 May 2023 to a consultation published by the International Ethics Standards Board on 17 February 2023.
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.