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Tax reform

ICAEW’s Tax Faculty draws on its members’ expertise to examine hot topics in tax and provide practical solutions to challenges faced by policymakers and regulators. This is underpinned by the faculty’s Ten Tenets for a Better Tax System that set out the characteristics against which it evaluates tax systems and tax policies.

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Ten Tenets for a Better Tax System

The Tax Faculty’s Ten Tenets for a Better Tax System comprise ten key characteristics against which to evaluate tax systems and tax policies. First published in October 1999, the Tenets were revised in April 2026.
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Autumn Budget 2024

On 30 October 2024, Chancellor Rachel Reeves delivered the Autumn Budget. Read ICAEW's reaction and analysis.
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Tax Faculty analysis of UK Budget and fiscal events

Prepare for 2026/27: Companies
  • Article
  • 25 Feb 2026
ICAEW’s Tax Faculty highlights some of the key changes for companies ahead of the start of the new financial year on 1 April 2026, including increased penalties for the late filing of company tax returns.
Carbon Border Adjustment Mechanism begins to take shape
  • Article
  • 12 Feb 2026
The government has published draft regulations for technical consultation setting out how the Carbon Border Adjustment Mechanism (CBAM) will work when it is introduced from 1 January 2027.
Prepare for 2026/27: Employees
  • Article
  • 10 Feb 2026
There is good and bad news for employees for 2026/27 as more low-value benefits can be provided by employers without incurring a tax charge, however the ability to make a claim for tax relief for homeworking expenses is withdrawn.
Government reassures agents on registration and sanctions
  • Article
  • 09 Feb 2026
Statements made by government ministers in the House of Commons provide some comfort that the Finance Bill 2025-26 measures directly affecting agents will be implemented in a reasonable and proportionate manner.
Exclusive Budget changes to capital allowances
  • Article
  • 23 Jan 2026
Richard Jones explores the changes announced to capital allowances at the Autumn Budget 2025, including the introduction of a new 40% first year allowance (FYA) and the reduction in the main rate of writing down allowances (WDA).
Scottish Budget makes changes to income tax thresholds
  • Article
  • 14 Jan 2026
ICAEW’s Tax Faculty highlights some of the key announcements from the Scottish Budget, including changes to the income bands for the starter, basic and intermediate rates of Scottish income tax and a package of non-domestic (business) rates reliefs.
Tax news in brief 6 January 2026
  • Article
  • 06 Jan 2026
Highlights from the broader tax news for the period ending 6 January 2026, including: looking ahead to Spring Statement 2026; updated rates of interest on underpaid and overpaid tax; and news of the R&D advance assurance pilot.
Agents may be overlooking IHT on cryptoassets
  • Article
  • 19 Dec 2025
HMRC is writing to agents who have previously submitted inheritance tax (IHT) returns to raise awareness of the requirement to account for IHT on cryptoassets. Any returns that contain an error should be corrected.
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Building a better tax system

Building a better tax system
  • Article
  • 07 Apr 2026
The UK tax system is creaking under the weight of decades of accumulated complexity. ICAEW is launching a major programme of work to diagnose what is wrong and set out what good looks like.
Principles, pillars, and priorities
  • Thought leadership report
  • 07 Apr 2026
In the UK, where economic resilience, fairness, and long-term investment are critical to national priorities, the strength of the tax system has never mattered more.
Exclusive ICAEW’s ten tenets: why we are changing them
  • Article
  • 07 Apr 2026
ICAEW has published revised tenets for a better tax system – the first update in 26 years – to sit alongside a new framework of institutional pillars. Ed Saltmarsh walks through what has changed, what has stayed the same, and why the revisions matter.
Ten Tenets for a Better Tax System
  • Article
  • 25 Jan 2018
The Tax Faculty’s Ten Tenets for a Better Tax System comprise ten key characteristics against which to evaluate tax systems and tax policies. First published in October 1999, the Tenets were revised in April 2026.

Tax representations

ICAEW REP 033/26 Taxation of Stablecoins
  • Representation
  • 06 May 2026
  • PDF (279kb)
A representation dated 6 May 2026 to a consultation published by HMRC on 26 March 2026.
ICAEW REP 029/26 Audit Scotland Code of Audit Practice
  • Representation
  • 27 Mar 2026
  • PDF (226kb)
A representation dated 27 March 2026 to a consultation published by Audit Scotland on 23 February 2026.
ICAEW REP 023/26 Reforming the Customs Treatment of Low Value Imports into the United Kingdom
  • Representation
  • 26 Mar 2026
  • PDF (333kb)
A representation dated 6 March 2026 to a consultation published by HM Treasury on 9 January 2026.
ICAEW REP 031/26 Finance Bill 2025-26 Clauses 37 & 38 Anti Avoidance: Company Reconstructions
  • Representation
  • 25 Mar 2026
  • PDF (184kb)
A briefing for MPs on the Finance (No. 2) Bill 2025-26 dated 25 March 2026.
ICAEW REP 026/26 Draft regulations: Carbon Border Adjustment Mechanism (CBAM)
  • Representation
  • 24 Mar 2026
  • PDF (169kb)
A representation dated 24 March 2026 to a consultation published by HMRC on 10 February 2026.
ICAEW REP 024/26 Introduction of Electric Vehicle Excise Duty (eVED)
  • Representation
  • 18 Mar 2026
  • PDF (311kb)
A representation dated 18 March 2026 to a consultation published by HM Treasury on 20 January 2026.
ICAEW REP 021/26 tax support for entrepreneurs: Call for Evidence
  • Representation
  • 27 Feb 2026
  • PDF (263kb)
ICAEW welcomes the opportunity to comment on the call for evidence on tax support for entrepreneurs by HM Treasury on 26 November 2025.
ICAEW REP 018/26 Visitor levy in England
  • Representation
  • 18 Feb 2026
  • PDF (307kb)
ICAEW welcomes the opportunity to comment on the Visitor Levy in England published by the Ministry of Housing, Communities and Local Government and HM Treasury on 26 November 2025.
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Watch a Tax Faculty webinar

Webinars and videos have been designed by the Tax Faculty to provide practical guidance to practitioners on important developments to tax practice and policy.

You can register for Tax Faculty webinars by visiting our events page.
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