Published by ICAEW's Tax Faculty, TAXguides provide practical guidance on developments to tax practice and policy. Here you can find the latest guides sorted by tax type, including: business tax, employment tax, international taxes personal tax, property tax and VAT, as well as support on tax administration.
Rishi Sunak delivered his first Budget of 2020 on 11 March. The Tax Faculty provides its summary of all the key tax announcements in this TAXguide.
In TAXguide 04/17 - Offshore trust changes, Sue Moore, technical lead for private client tax matters in the Tax Faculty, provides information on the implications of changes to income tax legislation published on 26 January 2017. In particular the guide offers more details on transfer of assets and settlements legislation and has been created with input from HMRC.
Non-domiciliary announcements made at summer budget 2015
TAXguide covering the UK taxation of cryptocurrency held by businesses including corporation tax, stamp taxes, employment income and VAT.
TAXguide covering the UK taxation of cryptocurrency held by individuals including charges to capital gains tax and income tax.
2024 TAXguides published by ICAEW Tax Faculty.
Two new forms are required when making claims for research and development (R&D) tax relief. While the additional information form is required for all R&D claims, advance notification will also be required for some.
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.
This TAXguide provides details of the reform to the taxation of unincorporated businesses introduced through FA 2022 to take effect from April 2024. The TAXguide has also been updated for more recent changes and is up to date as of 10 October 2023.
The super deduction, special rate allowance and extension of the uplifted annual investment allowance, were discussed by Steve Watts and Richard Jones in a Tax Faculty webinar on 14 June 2021. This TAXguide provides answers to questions raised in that webinar.
Explaining top ups for low earners in net pay arrangement schemes and the digitalisation of top up claims by pension scheme administrators for relief at source pension schemes.
ICAEW's Tax Faculty hosted a payroll and rewards webinar on 16 April 2023. This TAXguide shares to the answers raised at that webinar covering topics such as rates, thresholds, payroll, P11Ds, pension contributions and residence.
PAYE rates, thresholds, allowances, etc for employers in 2022/23 covering income tax, NIC, reliefs and levies, statutory payments, pensions, student loans, NMW/NLW rates and car/van/fuel BIK
Off-payroll working: guidance on clients’ off-payroll working obligations when a contractor works through an intermediary such as a personal service company across borders and/or some of the parties (client, contractor, contractor’s personal service company) are non-UK resident and/or the work is not wholly carried out in the UK, how the ‘host employer’ rules in s689 ITEPA 2003 interact, and the impact of double tax treaties.
Questions and HMRC’s answers on how to determine whether a trust that uses the services of a contractor provided through an intermediary such as a personal service company is ‘small’ or has a UK connection under the off-payroll working rules.
Off-payroll working: how to determine the size of a private sector client that uses the services of a contractor provided through an intermediary such as a personal service company.
In this webinar Mark Hammerton of Eversheds Sutherland gave practical advice and guidance on determining employment status now the off-payroll working rules have been extended to the private sector, and end-user options for managing contractors.
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.
Pillar two is part of a package of initiatives agreed at OECD level by territories worldwide to tackle the challenges of taxing multinational enterprises (MNEs) cross-border. In the UK, it will be known as the multinational top-up tax and domestic top-up tax that will apply for accounting periods beginning on or after 31 December 2023.
This guide highlights a change in HMRC’s approach to the treatment of loans made to remittance basis users where assets of the borrower are held by the lender. This TAXguide has been prepared jointly with STEP and the Chartered Institute of Taxation.
Off-payroll working: guidance on clients’ off-payroll working obligations when a contractor works through an intermediary such as a personal service company across borders and/or some of the parties (client, contractor, contractor’s personal service company) are non-UK resident and/or the work is not wholly carried out in the UK, how the ‘host employer’ rules in s689 ITEPA 2003 interact, and the impact of double tax treaties.
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.
This TAXguide has been replaced by TAXguide 08/21.
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.
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.
This TAXguide has been prepared by committee members of STEP, ICAEW, the CIOT and the Law Society to highlight practical issues and uncertainties raised by Finance Act 2018 Schedule 10 (Settlements: Anti-avoidance, etc.).
PAYE rates, thresholds, allowances, etc for employers in 2024/25 covering income tax, NIC, reliefs and levies, statutory payments, pensions, student loans, NMW/NLW rates and car/van/fuel BIK.
TAXguide covering the UK taxation of cryptocurrency held by businesses including corporation tax, stamp taxes, employment income and VAT.
TAXguide covering the UK taxation of cryptocurrency held by individuals including charges to capital gains tax and income tax.
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.
PAYE rates, thresholds, allowances, etc for employers in 2022/23 covering income tax, NIC, reliefs and levies, statutory payments, pensions, student loans, NMW/NLW rates and car/van/fuel BIK
This guide highlights a change in HMRC’s approach to the treatment of loans made to remittance basis users where assets of the borrower are held by the lender. This TAXguide has been prepared jointly with STEP and the Chartered Institute of Taxation.
Off-payroll working: guidance on clients’ off-payroll working obligations when a contractor works through an intermediary such as a personal service company across borders and/or some of the parties (client, contractor, contractor’s personal service company) are non-UK resident and/or the work is not wholly carried out in the UK, how the ‘host employer’ rules in s689 ITEPA 2003 interact, and the impact of double tax treaties.
Off-payroll working: how to determine the size of a private sector client that uses the services of a contractor provided through an intermediary such as a personal service company.
TAXguide covering the UK taxation of cryptocurrency held by businesses including corporation tax, stamp taxes, employment income and VAT.
Questions around the tax treatment of someone’s principal private residence (PPR) arise with frequency and all too often the answer is not as straightforward as might first appear. This guide considers the core rules, the traps and the key items to be aware of to help clients through this area of tax law.
The requirement for UK residents to report and pay capital gains tax (CGT) on disposals of UK residential property separately from the self assessment tax return was introduced in April 2020. The deadline is 60 days for all completions on or after 27 October 2021.
An update to guidance from ICAEW, STEP, CIOT and The Law Society on areas of uncertainty in the statutory provisions for Inheritance Tax on Overseas Property Representing UK Residential Property introduced by Finance Act (No 2) Act 2017.
Rishi Sunak delivered his first Budget of 2020 on 11 March. The Tax Faculty provides its summary of all the key tax announcements in this TAXguide.
In TAXguide 15/17, the Tax Faculty has published correspondence between Emma Chamberlain and HMRC relating to the availability of business property relief (BPR) in complex group structures. It extends the guidance offered by TAXguide 05/11 on inheritance tax and BPR.
Non-domiciliary announcements made at summer budget 2015
IHT Business Property Relief - Interests in Partnerships LLPs and surplus cash holdings. Guidance agreed with HMRC (ICAEW Tax Faculty, CIOT and STEP)
This TAXguide provides details of the new penalties for late submission and payment of VAT returns, which takes effect for VAT periods starting on or after 1 January 2023.
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.
The requirement for UK residents to report and pay capital gains tax (CGT) on disposals of UK residential property separately from the self assessment tax return was introduced in April 2020. The deadline is 60 days for all completions on or after 27 October 2021.
This guide considers the areas of uncertainty in the Finance (No. 2) Act 2017 statutory provisions for the cleansing of mixed funds. It is formed of questions and answers from ICAEW and other professional bodies, together with comments from HMRC.
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.
In TAXguide 10/18 Kate Cottrell explains the process required to perform an IR35 contract review, problem areas to watch out for, details of HMRC’s free service and what the implications are when things go wrong. Read a summary here, Tax Faculty members can download the full guide.
In TAXguide 18/17, Caroline Miskin explains what special relief is, when it might apply and the conditions that need to be met to make a formal claim. Read a summary here, Tax Faculty members can download the full guide.
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 covering the UK taxation of cryptocurrency held by businesses including corporation tax, stamp taxes, employment income and VAT.
This TAXguide provides details of the new penalties for late submission and payment of VAT returns, which takes effect for VAT periods starting on or after 1 January 2023.
Major VAT changes are being introduced by the EU on 1 July 2021, just six months after the end of the UK’s transitional deal. Neil Warren provides guidance on the key changes that will take place.
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.
Rishi Sunak delivered his first Budget of 2020 on 11 March. The Tax Faculty provides its summary of all the key tax announcements in this TAXguide.