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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

Prepare for 2026/27: Employers
  • Article
  • 03 Feb 2026
In the first of a series of articles looking ahead to 2026/27, the Tax Faculty highlights five changes affecting employers from April 2026 including new rules for supply chains and increases in the national minimum wage (NMW).
Winners and losers from capital allowances changes
  • Article
  • 02 Feb 2026
The new 40% first year allowance (FYA) may benefit some businesses, including those in the leasing sector. However, more businesses could lose out because of the cut in the main rate of the writing down allowance (WDA).
Additional business rates support announced for pubs
  • Article
  • 28 Jan 2026
The government estimates that the average pub in England will save £1,650 in business rates in 2026-27 as a result of measures announced on 27 January 2026.
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 changes require new approach to corporate reconstructions
  • Article
  • 12 Jan 2026
Nick Wright of Jerroms Miller Specialist Tax warns of “a decisive shift in the tax treatment of corporate reconstructions” following the Budget changes to the tax rules for share exchanges and reorganisations.
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.
Government makes further concessions on IHT reforms
  • Article
  • 30 Dec 2025
The government has announced that the new allowance for 100% agricultural property relief (APR) and business property relief (BPR) for inheritance tax (IHT) will be increased from £1m to £2.5m.
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Tax representations

ICAEW REP 004/26 Finance Bill 2025-26 Clause 62 and Schedule 12 Inheritance Tax: Agricultural Property Relief and Business Property Relief
  • Representation
  • 08 Jan 2026
  • PDF (265kb)
A briefing for MPs on the Finance Bill 2025-26, dated 8 January 2026.
ICAEW REP 005/26 Finance Bill 2025-26 Clauses 63 – 68 Inheritance Tax: Pension interests
  • Representation
  • 08 Jan 2026
  • PDF (300kb)
A briefing for MPs on the Finance Bill 2025-26, dated 8 January 2026.
ICAEW REP 097/25 Appropriate mechanisms for making changes to the Welsh tax acts
  • Representation
  • 27 Nov 2025
  • PDF (212kb)
A representation dated 27 November 2025 to a consultation published by HMRC on 8 September 2025.
ICAEW Rep 082/25 Finance Bill Sub-Committee - Call For Evidence on Draft Finance Bill Clauses For Reforming Inheritance Tax
  • Representation
  • 06 Nov 2025
  • PDF (275kb)
A representation dated 7 October 2025 to a consultation published by House of Lords Economic Affairs Finance Bill Sub-Committee on 17 September 2025.
ICAEW Rep 091/25 Autumn Budget 2025
  • Representation
  • 15 Oct 2025
  • PDF (536kb)
An ICAEW representation to HM Treasury ahead of the Autumn Budget on 26 November 2025.
ICAEW REP 073/25 Policy paper Income Tax — changes to Employee Car Ownership Schemes
  • Representation
  • 15 Sep 2025
  • PDF (186kb)
A representation dated 15 September 2025 to a consultation published by HMRC on 21 July 2025.
ICAEW REP 072/25 Policy paper better use of new and improved third-party data
  • Representation
  • 15 Sep 2025
  • PDF (244kb)
A representation dated 15 September 2025 to a consultation published by HMRC on 21 July 2025.
ICAEW REP 071/25 Policy paper Proposals to close in on promoters of marketed tax avoidance
  • Representation
  • 15 Sep 2025
  • PDF (177kb)
A representation dated 15 September 2025 to a consultation published by HMRC on 21 July 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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