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Tax returns

Expert commentary and practical guidance from ICAEW related to tax returns under the UK tax regime.

In this section

Practical guidance

ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax

TAXguide 13/15

Use of foreign income and gains as loan collateral for a relevant debt - update

TAXguide 02/15

Capital taxes liaison group minutes

TAXguide 06/13

Cross-border and home national insurance contribution issues

Features and articles

MTD ITSA and basis period reform postponed

Government and HMRC have listened to representations and put back the implementation of MTD ITSA and potential reforms to basis periods. The new MTD ITSA start date of April 2024 for the self-employed and landlords has now been set in legislation, providing the certainty that has been lacking, says ICAEW.

Repay SEISS when turnover is up?

Increased turnover is a red flag that SEISS grants may need to be repaid, but it isn’t conclusive. A much more granular approach is needed, for example to establish whether a new contract arose providing a late boost to profits unforeseen at the time a claim was made.

Disciplinary update September 2021

Since the last newsletter in July, there have been a number of disciplinary outcomes published including the following tribunal cases, consent orders and fixed penalties.

Offsetting overpaid CGT against income tax

HMRC has acknowledged its error in not allowing overpaid CGT on UK residential property to be offset against income tax. ICAEW’s Tax Faculty explains the solution that has been put in place for 2020/21 self assessment returns.

SEISS grants and tax return processing

HMRC reports that it has been unable to automatically process a significant number of 2020/21 self assessment tax returns because of apparent inconsistencies in the reporting of SEISS grants. ICAEW’s Tax Faculty explains how to avoid the problem.

Webinars and recordings

Happy New (Tax) Year

As HMRC begins to send out notices to file tax returns for the year ending 5 April 2018, the Tax Faculty give members a round up of what has changed since last year, and some practical pointers around the pitfalls to avoid.

Bloomsbury Core Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Core Accounting and Tax Service.

Value added tax

Chapter providing expert guidance on VAT in relation to business partnerships, including LLPs.

Trading company and investment company computations under CTSA

Chapter containing advice on computations and the corporation tax self-assessment (CTSA) return, written for anyone who advises or runs a family or owner-managed company.

Guide to taxpayers’ rights and HMRC powers

Guide to the growing breadth of HMRC powers and the increasingly complex penalty regime for non-compliance.

Tax returns

A chapter on taxpayers' rights and HMRC powers in relation to tax returns.

Self-assessment penalties

A full chapter providing practical guidance on penalties for incorrect tax returns.

Self-assessment

A full chapter providing practical guidance on company tax returns and dealing with HMRC.

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Daily Telegraph tax guide 2020

The Daily Telegraph Tax Guide is the UK's bestselling tax handbook, containing everything you need to know about completing a self-assessment tax return for 2019/20.

Daily Telegraph tax guide 2019, The: your complete guide to the tax return 2018/19

This book contains everything you need to know about completing a self-assessment tax return for 2018/19.

Income tax

Fully updated guide focusing on each area of the financial statement in detail with illustrative examples. This chapter on accounting for income tax gives a comparison of FRS 102 Section 29 and IFRS, and covers VAT and similar sales taxes, current tax, recognition and measurement of deferred tax, allocation of tax charge or credit, consolidated tax returns and offset of taxable profits and losses within groups, presentation, and disclosure.

Daily Telegraph tax guide 2018, The: Understanding the tax system, completing your tax return and planning how to become more tax efficient

Guide to completing a Self-Assessment tax return for 2017/18, with advice and worked examples covering key aspects of personal taxation in the UK

Daily Telegraph Tax guide 2017, The: understanding the tax system, completing your tax return and planning how to become more tax efficient.

A guide to completing a Self-Assessment tax return for 2016/17, with advice for any taxpayer to ensure you are as tax efficient as possible. Offers practical advice, timetables and examples that aim to simplify what many people view as a complex and challenging procedure.With a whole range of top tips for saving on all types of tax.

Penalties and surcharges

Section covering the penalties for late VAT registration, unauthorised issue of tax invoices, and late, fraudulent or erroneous tax returns.

Registration and de-registration

Briefly explains who has an obligation to register for VAT with a worked example for a small business. It also notes the pros and cons of voluntary VAT registration.

Hot topics in financial and legal matters for general practice

A guide to financial and legal issues for GPs and managers of medical practices.

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