Find out more about the Tax Faculty and upcoming events. Faculty members can access exclusive content, including TAXline, TAXguides, webinars, representations and support schemes.
The standard for agents has been updated to highlight it does not override duties set out by an agent's professional body. It does not impose additional requirements on agents who meet PCRT standards.
ICAEW is seeking research proposals by 30 June 2024 for simplifying the UK’s VAT system, with a £5,000 prize for the winning entrant.
The National Audit Office (NAO) has found that HMRC’s increased digital offering has not delivered the expected savings or improved services for taxpayers. The government has promised more funding for HMRC.
Highlights from the broader tax news for the week ending 15 May 2024, including: new guidelines for compliance to help with capital allowances claims; suggestions from the IFS on how to reform IHT; and a reminder for exporters on the move to the CDS.
Favourable climate, good food, great tax incentives – it’s easy to see why moving to Italy might be tempting. However, recent changes have put the spotlight on Italy’s inpatriate tax regime. Andrea Matera explains.
How do you determine when an asset was sold when there is no formal documentation? Stephen Relf looks at a recent tax case where the First-tier Tribunal had to do just that.
Financial year 2023/24 is important in the move from basis periods to the tax year basis for unincorporated businesses. Richard Jones looks at how to approach the change.
In the latest episode of The Tax Track podcast, the Tax Faculty warns that a company may have a higher tax bill where there are associated companies, and that applying the rules can be challenging.
ICAEW's Tax Faculty hosted a payroll and reward update webinar on 10 April 2024. Answers to questions asked during the webinar are provided in this TAXguide.
ICAEW's Tax Faculty hosted a webinar on 18 April 2024 explaining the cash basis for the self-employed, including the changes that apply from the 2024/25 tax year. Answers to questions asked during the webinar are provided in this TAXguide.
PAYE rates, thresholds, allowances, etc for employers in 2024/25 covering income tax, NIC, reliefs and levies, statutory payments, pensions, student loans, NMW/NLW rates and car/van/fuel BIK.
TAXguide covering the UK taxation of cryptocurrency held by businesses including corporation tax, stamp taxes, employment income and VAT.
This webinar from the Tax Faculty will relay the practical implications of the payrolling of benefits in kind.
The latest information and guidance on Making Tax Digital income tax self assessment (MTD ITSA) from the Tax Faculty.
This webinar from the Tax Faculty will run through the basics of the cash basis and what is changing from 6 April 2024
This webinar from the Tax Faculty will provide an update on all the recent and upcoming changes to payroll, rewards and employment taxes in 2024/25.
A representation dated 20 May 2024 to a consultation published by the government in March 2024.
A representation dated 15 May 2024 to a consultation published by HMRC on 18 April 2024.
A representation dated 9 May 2024 to a consultation published by HMRC on 14 March 2024.
As digital technologies transform the worlds of work and leisure, the UK government grapples with balancing the books while ensuring its tax system is fit for purpose. As HMRC launches its review of the system that underpins the tax system, we take a look at the pressing issues and challenges.
The government has moved swiftly to consult on draft legislation to reform basis period rules before MTD ITSA becomes mandatory. ICAEW is concerned that changes will be rushed through and disappointed that the normal consultation process is not being followed.
ICAEW welcomes HMRC’s vision of a more flexible and responsive tax system outlined in the Tax Administration Framework Review but warns that significant challenges, such as creating a single identifier for taxpayers and consolidation of tax systems, can only be met if HMRC is properly resourced.
A single identifier for individuals and smoother registration processes are pre-requisites for a better tax system, argues ICAEW. HMRC also needs funding to develop an improved process for registering, authenticating and authorising agents.
ICAEW considers HMRC’s call for evidence on timely payment to be premature, as earlier payment of income and corporation tax would reduce businesses’ flexibility to manage their cashflow.