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TAXguides

TAXguides provide practical guidance to practitioners on important developments to tax practice and policy. Tax Faculty members are able to download all guides in their entirety.

Published in 2021

 

TAXguide 06/21: COVID-19 - displaced expatriate employees

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.

TAXguide 05/21: Tax issues in 2021

In this TAXguide, Rebecca Benneyworth highlights some key tax areas for practitioners to be aware of in the early part of 2021, before the next round of announcements arrives in the March Budget.

TAXguide 03/21: Deemed domicile changes - trust protections and OIGs

Guidance from ICAEW, STEP, and the CIOT to highlight a key issue with respect to the trust protections as introduced by Finance (No 2) Act 2017. This guide focuses on the situation where the settlor is deemed UK domiciled only under the 15-year rule and offshore income gains arise directly to the non-UK resident trust.

TAXguide 02/21: Deemed domicile changes - trust protections

Guidance from ICAEW, STEP, and the CIOT to highlight practical issues and uncertainties in the statutory provisions for trust protections introduced by Finance (No 2) Act 2017. This guide is formed of notes prepared by the professional bodies covers issues, such as: de minimis, guarantees, property management and offshore income gains.

TAXguide 01/21: Off-payroll working from April 2021

This guide provides answers to questions asked at the off-payroll working webinar presented by Steve Wade and Kate Upcraft on 23/11/20. It covers changes from April 2021 including the size of clients, overseas clients, employment status and status determination statements, deemed employment income, personal service companies and the contractor, and practitioner support.

Published in 2020

 

TAXguide 22/20 Accounting for off-payroll working

Off-payroll working rules from April 2021 require private sector end users to determine employment status of contractors who use an intermediary. If there is deemed employment, the intermediary receives payment net of deductions. This builds on legislation for public sector engagers effective from 2017. Existing IR35 rules continue to apply where the end user is small. Rebecca Benneyworth provides guidance on how to account for off-payroll transactions.

TAXguide 21/20 Employment Tax: round up of 2020/21 and a look ahead

This TAXguide collates a broad range of employment tax changes for 2020/21 and looks ahead to 2021/22. Kate Upcraft provides practical guidance on off-payroll working, national insurance exemptions, the employment allowance, termination payments, student loans, RTI matters, statutory parental bereavement pay (SPBP), and summarises benefits and expenses in the context of COVID-19.

TAXguide 19/20: Intangible fixed assets and corporation tax deductibility

This TAXguide, written by Andrew Tall, explains the different ways that a revenue deduction can be claimed for ‘typical’ intangible fixed assets (ITFA) used by a company in a taxable business, as introduced in Finance Act 2002 under Chs 3 and 15, Pt 8, Corporation Tax Act 2009 (CTA 2009), and subsequently amended.

TAXguide 18/20: VAT MOSS – what happens following the end of the UK VAT MOSS scheme

The UK has left the EU, with 31 December 2020 marking the end of the transitional deal that has been in place since 1 February 2020. The EU departure will mean important changes for UK businesses that sell broadcasting, telecommunication and electronic (BTE) services to non-business customers (B2C) inside the EU. Neil Warren provides guidance on the key changes that will take place.

TAXguide 17/20: CJRS - The furlough scheme reinvented

The Coronavirus Job Retention Scheme (CJRS) has been extended until 31 March 2021 and altered from the previous two iterations. In this guide ICAEW's Tax Faculty provides the answers to more than 190 questions raised by attendees to its webinar explaining the changes to the CJRS broadcast on 20 November.

TAXguide 15/20 Capital gains tax 30-day reporting

A new requirement for UK residents to report and pay capital gains tax (CGT) on disposals of UK residential property within 30 days was introduced in April 2020. Non-residents have had an obligation since 2015. ICAEW’s Tax Faculty provides guidance on to the digital service for reporting disposals to HMRC.

Published in 2019

 

Published in 2018

 

TAXguide 18/18: Small business tax issues

In TAXguide 18/18, Rebecca Benneyworth explores the recent tax changes affecting small businesses, and looks at the impact of the more recent changes to dividend taxation and the rate of corporation tax. The full guide can be downloaded by Tax Faculty members and Faculties Online subscribers.

TAXguide 17/18: Partnership tax

In TAXguide 17/18, Andrew Constable answers a selection of the key questions raised by viewers of the Tax Faculty webinar ‘partnership tax’’, broadcast on 8 November 2018.

TAXguide 16/18: EBTs and contractor loan schemes

In this TAXguide Rebecca Benneyworth answers questions raised in response to the Tax Faculty webinar on employee benefit trust strategies and contractor loan schemes, which was broadcast on 8 August. Read a summary here, Tax Faculty members can download the full guide.

TAXguide 15/18: The cash basis for traders and landlords

In this practical TAXguide Sarah Bradford, director of Writetax and editor of Small Business Tax and Finance, explores the cash basis of assessment as it applies to traders and landlords. Read a summary here, Tax Faculty members can download the full guide.

Published in 2017

 

TAXguide 23/17: VAT MOSS

In TAXguide 23/17, Neil Gaskell explains the changes introduced on 1 January 2015 to the VAT rules for business to consumer supplies of digital services within the EU. This guidance has been updated to include changes introduced on 1 January 2019. Read a summary here, Tax Faculty members can download the full guide.

TAXguide 21/17: The tax implications of Brexit

Although many of the implications of Brexit are currently unknown, VAT and customs duties are likely to be affected. This guide outlines the potential tax consequences. This guide was updated following the publication on 23 August 2018 of guidance from HMRC as to what will happen if there is no Brexit deal.

TAXguide 20/17: An intermediate guide to the taxation of UK trusts

In TAXguide 20/17, Sue Moore and Gillian Banks answer a selection of the key questions raised by viewers of the Tax Faculty webinar ‘an intermediate guide to the taxation of UK trusts’, broadcast on 25 October 2017. Read a summary here, Tax Faculty members can download the full guide.

TAXguide 19/17: High income child benefit charge

In TAXguide 19/17, David Kirk provides a step by step explanation of how to calculate the high income child benefit charge and highlights the potential pitfalls. Read a summary here, Tax Faculty members can download the full guide.

Published before 2017

 

TAXguide 06/21: COVID-19 - displaced expatriate employees

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.

TAXguide 05/21: Tax issues in 2021

In this TAXguide, Rebecca Benneyworth highlights some key tax areas for practitioners to be aware of in the early part of 2021, before the next round of announcements arrives in the March Budget.

TAXguide 03/21: Deemed domicile changes - trust protections and OIGs

Guidance from ICAEW, STEP, and the CIOT to highlight a key issue with respect to the trust protections as introduced by Finance (No 2) Act 2017. This guide focuses on the situation where the settlor is deemed UK domiciled only under the 15-year rule and offshore income gains arise directly to the non-UK resident trust.