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.
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.
Autumn Budget 2024
On 30 October 2024, Chancellor Rachel Reeves delivered the Autumn Budget. Read ICAEW's reaction and analysis.
Tax Faculty analysis of UK Budget and fiscal events
Exclusive
Follow the numbers: Frozen personal tax thresholds
- Article
- 01 May 2025
The Office of Budget Responsibility’s latest economic and fiscal outlook, published alongside the Spring Statement on 26 March 2025, shows how the policy to freeze personal tax thresholds is affecting tax revenues and the tax system.
Landlords advised not to use tax avoidance scheme
- Article
- 01 May 2025
HMRC has warned against the use of a capital gains tax (CGT) avoidance scheme that involves an individual transferring their property business to a limited liability partnership (LLP), which is then put into members’ voluntary liquidation (MVL).
HMRC turns the screw on tax scheme promoters
- Article
- 10 Apr 2025
The government has proposed giving HMRC “additional powers and stronger sanctions” to clamp down on promoters of tax avoidance schemes in a consultation published alongside the Spring Statement on 26 March 2025.
Tax news in brief 9 April 2025
- Article
- 09 Apr 2025
Highlights from the broader tax news for the week ending 9 April 2025, including: an update on legislation to enact changes announced at the Autumn Statement 2024; and new guidance for agents on Making Tax Digital (MTD) for income tax.
Government considers extending R&D advanced clearance service
- Article
- 28 Mar 2025
After preliminary discussions with key stakeholders, including ICAEW, a consultation on widening the advanced clearance process for research and development (R&D) tax relief was published alongside the Spring Statement on 26 March 2025.
MTD income tax will be extended in 2028
- Article
- 26 Mar 2025
Alongside the Spring Statement 2025, it was announced that Making Tax Digital (MTD) for income tax will be extended to those with turnover of more than £20,000 from April 2028. Taxpayers in MTD income tax will need to use commercial software for their final tax return.
ICAEW marks making tax digital’s 10th birthday
- Article
- 18 Mar 2025
Ten years ago today, George Osborne laid the foundations for making tax digital (MTD), promising to “abolish the tax return altogether”. ICAEW’s Tax Faculty looks back at the key events and considers the future of MTD.
Ten tax changes taking effect from April 2025
- Article
- 28 Feb 2025
ICAEW’s Tax Faculty picks out 10 important changes applying from 1 April 2025 for companies and 6 April 2025 for individuals and unincorporated businesses.
Tax representations
ICAEW REP 030/25 Reforms to inheritance tax reliefs: Consultation on property settled into trust
- Representation
- 29 Apr 2025
- PDF (555kb)
A representation dated 23 April 2025 to a consultation published by HMRC on 27 February 2025.
ICAEW REP 029/25 HMRC Statistics
- Content type
- 04 Apr 2025
- PDF (408kb)
A representation dated 3 April 2025 to a consultation published by HMRC on 16 January 2025.
ICAEW REP 022/25 Transforming business rates
- Representation
- 13 Mar 2025
- PDF (220kb)
A representation dated 3 March 2025 to a consultation published by HM Treasury on 30 October 2024.
ICAEW REP 019/25 Mandatory Payrolling of Benefits in Kind
- Representation
- 19 Feb 2025
- PDF (344kb)
Questions for HMRC submitted by ICAEW Tax Faculty on 19 February 2025.
ICAEW REP 020/25 Personal tax offshore anti-avoidance legislation call for evidence
- Representation
- 18 Feb 2025
- PDF (540kb)
A representation dated 18 February 2025 to a consultation published by HMRC on 30 October 2024.
ICAEW REP 011/25 Carried interest qualifying conditions wef 6-4-2026
- Representation
- 31 Jan 2025
- PDF (648kb)
A representation dated 30 January 2025 to a consultation published by HM Treasury on 30 October 2024.
ICAEW REP 008/25 Tackling the hidden economy expanding tax conditionality to new sectors
- Representation
- 28 Jan 2025
- PDF (125kb)
A representation dated 28 January 2025 to a consultation published by HMRC on 30 October 2024.
ICAEW REP 006/25 Simplifying the taxation of offshore interest
- Representation
- 22 Jan 2025
- PDF (578kb)
A representation dated 22 January 2025 to a consultation published by HMRC on 30 October.
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