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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 has formulated Ten Tenets for a Better Tax System. This comprises 10 key characteristics against which to evaluate tax systems and tax policies, which include: simplicity, certainty and reasonableness.
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Building a better UK tax system

As HMRC embarks on a 10-year review of tax administration, ICAEW examines the potential opportunities and challenges to reforming the UK's tax system to be fit for a digital future.
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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

Scottish Budget makes income tax changes
  • Article
  • 09 Dec 2024
The Scottish government has set out its tax plans for 2025 to 2026, announcing changes to the income tax starter and basic rate bands and an increase in the rate of the additional dwelling supplement for land and building transaction tax (LBTT).
Exclusive The tax benefits of employee ownership trusts
  • Article
  • 05 Dec 2024
In the second of two articles on employee ownership trusts (EOTs), Nick Wright explores the capital gains tax exemption for the shareholders of the trading company and the income tax exemption for employees receiving bonuses.
940,000 employers to pay more NIC in 2025/26
  • Article
  • 19 Nov 2024
Legislation introduced to Parliament provides for the changes to employers’ national insurance contributions (NIC) announced at the Autumn Budget 2024.
Tax news in brief 20 November 2024
  • Article
  • 19 Nov 2024
Highlights from the broader tax news for the week ending 20 November 2024, including: an update on MTD ITSA; suggestions for HMRC on how to reduce the tax gap; and legislation to enact the changes to business rates announced at the Autumn Budget 2024.
HMRC provides further guidance on FHL abolition
  • Article
  • 12 Nov 2024
HMRC has published guidance to clarify issues raised during the consultation on the draft legislation to abolish tax rules for furnished holiday lets (FHLs).
Tax news in brief 13 November 2024
  • Article
  • 12 Nov 2024
Highlights from the broader tax news for the week ending 13 November 2024, including: the publication of Finance Bill 2024/25; new guidelines for compliance from HMRC; and an update on the single trade window.
Budget measures you may have missed
  • Article
  • 06 Nov 2024
ICAEW’s Tax Faculty picks out some important measures announced at Autumn Budget 2024 which didn’t make the headlines on the day.
Changes to indirect taxes made in Autumn Budget 2024
  • Article
  • 05 Nov 2024
ICAEW’s Tax Faculty provides a round-up of indirect tax measures announced in the Budget on 30 October 2024, including VAT, duties and the carbon border adjustment mechanism (CBAM).
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Tax representations

ICAEW REP 089/24 Finance Bill 2024-25: Clause 47 - Value added tax - Removal of exemption for private school fees
  • Representation
  • 11 Dec 2024
  • PDF (207kb)
A briefing for MPs on the Finance Bill by ICAEW Tax Faculty.
ICAEW REP 088/24 Finance Bill 2024-25: Clauses 50-53 - Stamp duty land tax - Increased rates for additional dwellings
  • Representation
  • 11 Dec 2024
  • PDF (171kb)
A briefing for MPs on the Finance Bill by ICAEW Tax Faculty.
ICAEW REP 087/24 Finance Bill 2024-25: Clause 25 and Schedule 5 - Furnished holiday lettings
  • Representation
  • 11 Dec 2024
  • PDF (209kb)
A briefing for MPs on the Finance Bill by ICAEW Tax Faculty.
ICAEW REP 086/24 Finance Bill 2024-25: Clause 7 and Schedules 1 & 2 - Capital gains tax - rates of tax
  • Representation
  • 11 Dec 2024
  • PDF (224kb)
A briefing for MPs on the Finance Bill by ICAEW Tax Faculty.
ICAEW REP 082/24 Finance Bill 24-25: Clause 31 and Schedule 6 - Employee Ownership Trusts
  • Representation
  • 29 Nov 2024
  • PDF (176kb)
A briefing for MPs on the Finance Bill by ICAEW Tax Faculty
ICAEW REP 081/24 Industrial Strategy consultation response
  • Representation
  • 27 Nov 2024
  • PDF (446kb)
A representation dated 24 November 2024 to a consultation published by the Department for Business and Trade on 14 October 2024.
ICAEW REP 084/24 Evidence to PAC HMRC customer service and accounts 2023-24
  • Representation
  • 18 Nov 2024
  • PDF (276kb)
A response dated 18 November 2024 to a call for evidence published by PAC on 31 October 2024.
ICAEW REP 072/24 Update of HMRC capital allowances guidance
  • Representation
  • 15 Oct 2024
  • PDF (309kb)
ICAEW written comments relating to HMRC’s update of its capital allowances guidance.
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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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