In this special edition of the Insights podcast, we’re joined by experts from across ICAEW’s tax and public sector team to preview the government’s Autumn Budget and Spending Review 2021.

As the government published its strategy to meet the UK’s commitment to become net zero by 2050, an HM Treasury report has highlighted the significant implications for public spending and tax revenues in meeting the costs.

HMRC has reiterated that employers should continue to report contractual pay dates in their full payment submission for December if they pay employees early, rather than actual payday, to avoid complications for staff receiving universal credit.

Highlights from the broader tax news week ending 20 October, which includes: highlights from HMRC's latest Employer Bulletin, the end of the extended to appeal tax decisions and new HMRC support on what happens when tax pays aren't billed and on new tax checks for some licence renewals in England and Wales.

In this issue, Anita Monteith considers how the government might bring forward tax payment dates, Neil Warren considers the VAT treatment of a range of business expenses and staff perks and Dean Needham explains how the timing of investment expenditure can affect the level of tax relief available.

In this issue Rebecca Benneyworth examines growing complexity in the tax system, Marc Levitt provides an update on family investment companies and Karen Eckstein outlines risks and opportunities when buying or selling a professional services firm.

In this issue, Steve Wade explains why there are difficult decisions ahead on the route to a straightforward tax system, Stephen Yates reviews a new income tax annual published by Claritax Books and Mark McLaughlin looks at the cautionary tale of Mr Khan, where a company purchase of own shares had unexpected and expensive tax consequences.

In this issue, Kate Upcraft shares her advice for the remaining few months of the Coronavirus Job Retention Scheme, Andy Tall examines the changes to the penalty regime for late VAT and ITSA returns and Jonathan Schwarz reviews Automatic Exchange of Information Handbook by John Hiddleston.

This webinar from the Tax Faculty will cover the regulations in detail and explain where we are with the development of the policy and the pilot and what taxpayers and agents can do to prepare.

In this year's Hardman Lecture, former ICAEW President Paul Aplin will explore the opportunities and threats technology presents to the tax profession: what familiar tasks will disappear or change?

The Tax Faculty's essential Autumn Budget 2021 webinar

Are you prepared for the future of patent box relief? Find out about the changes for claims made from 1 July 2021.

A response dated 13 October 2021 to a consultation published by HMT on 20 September 2021.

A response dated 5 October 2021 to a consultation published by HMT on 30 September 2021, including ICAEW’s Tax Faculty customary pre-Budget letter to the Financial Secretary to the Treasury. It calls for the acceleration of work to build a modern tax system, while urging a “manageable pace” of transition, it cautions against implementing tax changes without consultation, such as the new Health and Social Care Levy.

Draft legislation and guidance implementing the government’s plans for large businesses to report uncertain tax positions will introduce additional complexity and not provide the clarity taxpayers need, ICAEW warns in its response to HMRC's consultation.

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.