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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.
Governments around the world have announced tax measures to support businesses and individuals in response to the COVID-19 pandemic. This page brings together guidance and news from ICAEW, as well as externally-produced resources that provide practical information on emerging tax issues.
ICAEW’s Tax Faculty works to support its members and financial professionals on the latest developments in tax policy and practice. Here you can see list of the faculty’s latest activities, publications and 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
Stay up-to-date with the fast moving world of tax by attending our webinars and events.
Can President Biden’s new Made in America Tax Plan halt the race to the bottom for international corporate tax rates? ICAEW’s Tax Faculty outlines the proposals.
The stakeholder group responsible for inputting into HMRC’s Charter Annual Report is looking for feedback on how HMRC has performed during 2020/21.
Earlier this year, the Supreme Court ruled on a landmark employment law case involving Uber. Mark Hammerton, partner at law firm Eversheds Sutherland, explores the fallout and what it means for tax.
ICAEW’s Technical Advisory Services has updated its support for practitioners on client engagement letters relating to tax services. The Tax Faculty highlight the key changes.
In this issue, Chris Sanger examines the VAT policy challenges for the sharing economy identified by the Treasury, Neil Warren reveals why tax advisers need to be aware of the VAT deregistration rules and Elizabeth Ward-Booth and Anthony Crewe reconsider the definition of permanent establishments in the light of increased remote working.
In this issue, Richard Jones reviews the Tax Faculty’s Budget representations, Lindsey Wicks looks at planned rule changes and Sean Randall explains why the new SDLT surcharge may apply even when the taxpayer is resident for other taxes.
In this issue, Katy Rabindran reflects on the First-tier Tribunal decision in Hadee Engineering Co Limited v HMRC, Jane McCormick shares her experience of the global digitisation of taxes and Howard Royse provides an update on HMRC’s March 2020 consultation on construction industry scheme abuse.
In this issue, Frank Haskew shares his thoughts on what happened in 2020, Lindsey Wicks looks at the tax checks that will apply to the renewal of certain licences from 4 April 2022 in England and Wales and Mark McLaughlin highlights a potential pitfall for inheritance tax business property relief purposes.
This TAXguide analyses the corporate tax impact of Brexit on the typical cycle of outbound and inbound business operations within the UK and the EU as from 1 January 2021. It analyses them from the viewpoint of both the UK and the member states of the EU.
This TAXguide contains correspondence between ICAEW, the Financial Secretary to the Treasury and HMRC on the statutory residence test and social security in relation to expatriate employees that have been displaced due to the impacts of the coronavirus pandemic. This TAXguide replaces TAXguide 06/21 which predated HMRC’s reply on social security contributions.
Questions posed by ICAEW Tax Faculty exploring the impact of changes from 6 April 2021 to the off-payroll working regime and what they mean in practice, in particular for payroll, with answers based on HMRC's guidance.
This TAXguide has been replaced by TAXguide 08/21.
Webinars, videos and podcasts
Applications for the fourth SEISS grant open in late April 2021.
In this webinar the Tax Faculty team will be reflecting on the announcements from the Budget
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.
This webinar will give an overview of the R&D landscape, a practical look and 'what is R&D', how to spot it and how to make an R&D claim.
A response dated 18 March 2021 to a consultation published by OTS on 27 January 2021.
A response dated 4 March 2021 to a consultation published by HMRC on 12 November 2020.
A response dated 3 March 2021 to a consultation published by HMRC on 9 December 2020.
Tax topics for today
Taxing business properties form an important part of the tax base for many countries, but they are often complex and in an increasingly online world can be irrelevant to an organisation’s turnover. The time has come to overhaul business property tax systems and here ICAEW outlines the options.
Is hypothecation - assigning particular tax revenues to a specific public policy goal - a good thing? Read Ian Young's article presenting the facts and then decide.
Anita Monteith of ICAEW’s Tax Faculty explains how to account for trades in the sharing economy, specifically how tax and national insurance work in the gig economy