The Tax area has information and guidance on technical and practical tax matters. There are links to events, the latest tax news and the Tax Faculty’s publications, including helpsheets, webinars and Tax representations.
Journalists and politicians often talk about 'the deficit', but what is it? ICAEW experts describe what this public finance shortfall is and what it means for businesses and people.
The 'national debt' is something that journalists and politicians will discuss in the run up to the general election. But what is it and how does it affect people and businesses? ICAEW experts offer this simple guide on public debt, why it matters and the challenges in controlling it.
Enhanced capital allowances may be claimed where qualifying expenditure is incurred in freeports and investment zones. Bryan Crawford looks at the conditions for making a claim and explains how businesses can benefit from the reliefs.
Some of the changes announced at the Spring Budget 2024 have now become law, including an increase in the thresholds for the high income child benefit charge for 2024/25.
This webinar from the Tax Faculty will get you equipped to report results from the transitional year 2023/24.
HMRC has provided an update on an issue affecting voluntary class 2 national insurance contributions (NIC) for 2022/23.
The move from basis periods to the tax year basis for unincorporated businesses means 2023/24 is an important tax year. We look at how to approach the tax return.
HMRC has announced that employers must payroll benefits in kind from April 2026. In this article, Michael Nicolaides and Kym Wise consider what we do and do not know about HMRC’s plans, and how employers can begin to prepare for the changes.
HMRC has confirmed that the UK will no longer be applying DAC 6 in its entirety following conclusion of the Free Trade Agreement with the EU. Only arrangements that would have fallen within Category D of DAC 6 will now need to be reported, in line with the OECD’s mandatory disclosure rules.
ICAEW’s Tax Faculty explains why all ICAEW members need to be alert to their potential reporting obligations. Highlighting common misconceptions and answering frequently asked questions about the regime.
An introduction to DAC6 and the OECD Mandatory Disclosure Regimes in the context of UK reporting.
<p>Our range of guidance and services for Land Transaction Tax and Landfill Disposal Tax.</p>
<p>LBTT is a tax applied to residential and commercial land and buildings transactions (including commercial properties and commercial leases) where a chargeable interest is acquired.</p>
The Welsh government is consulting on several changes to land transaction tax, including the abolition of multiple dwellings relief.
This webinar from the Tax Faculty will relay the practical implications of the payrolling of benefits in kind.
HMRC has provided an update on an issue affecting voluntary class 2 national insurance contributions (NIC) for 2022/23.
Highlights from the broader tax news for the week ending 19 June 2024, including: a malware warning from HMRC; help from HMRC with submitting forms P11D and P11D(b); and developments in international tax.
Changes have been made to the rules applying to advances on wages and pay as you earn (PAYE) real time information (RTI) reporting.
Highlights from the broader tax news for the week ending 26 June 2024, including: HMRC guidance on temporary issues with the customs declaration service; and a summary of international tax developments.
Highlights from the broader tax news for the week ending 19 June 2024, including: a malware warning from HMRC; help from HMRC with submitting forms P11D and P11D(b); and developments in international tax.
Groups within the scope of pillar two must register with HMRC within six months after the end of the first accounting period to begin on or after 31 December 2023.
Frank Haskew looks at the latest Tax Faculty activity, including the effects of purdah, professional standards and problems in the R&D sector.
This month’s top stories include a HMRC warning about VAT bank details fraud; an NAO report showing taxpayers have been let down by poor HMRC service; and HMRC rejecting the ‘brightline’ test for furnished holiday lets.
Draft regulations allow HMRC to assess the second penalty for late payment before the tax has been paid in full.
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.
Having a de minimis level for registration should benefit small trusts that do not fit any of the existing exemptions, but only if the proposed de minimis criteria are appropriate.
Political debates ahead of the election will no doubt discuss income tax, but what is it? ICAEW experts describe what income tax covers, how it is calculated and what the marginal rate is.
FAQ on whether three-months’ pay in lieu of notice, for an employee whose role a company is planning to terminate, will be free of Income Tax PAYE and national insurance contributions, if the employee involved is simply dismissed or put on “gardening leave”.
28 July: Fewer trusts will be within the scope of the expansion of the Trust Registration Service (TRS) than originally proposed, but the 30-day deadline for new trust registrations and rules granting third-party access to data remain unchanged.
Guidance for those providing tax services in the United Kingdom, on the prevention of money laundering and the countering of terrorist financing.
PCRT sets out the principles and standards of behaviour that all members, affiliates and students must follow in their tax work.
Technical helpsheet providing sample wordings to help you draft engagement letters for a variety of typical engagements for both corporate and non-corporate clients. Includes full text and supplementary schedules.
Highlights from the broader tax news for the week ending 5 June 2024, including: HMRC publishes guidance on the abolition of multiple dwellings relief; an update on the VAT refund scheme for museums and galleries; and the Scottish visitor levy has been passed.
Some of the changes announced at the Spring Budget 2024 have now become law, including an increase in the thresholds for the high income child benefit charge for 2024/25.
In this episode of the ICAEW Insights podcast, we discuss upcoming changes to company size thresholds and what they mean for reporting requirements.
In response to ICAEW’s letter on the abolition of the FHL regime, HMRC has confirmed that the boundary between property letting and trading will be judged on the facts and by reference to case law.
In response to ICAEW’s letter on the abolition of the FHL regime, HMRC has confirmed that the boundary between property letting and trading will be judged on the facts and by reference to case law.
This month’s top stories include community amateur sports clubs asked to check their status; MTD ITSA private beta testing relaunched; and tax administration and maintenance day summary.
<p>Our range of guidance and services for Land Transaction Tax and Landfill Disposal Tax.</p>
HMRC contact information, including telephone numbers, online options and postal addresses, together with tips.
ICAEW’s Tax Faculty provides links to help practitioners find the latest tax rates, allowance and reliefs.
This guide to help you through the HMRC complaits process.
This guidance summarises the different methods of paying tax to HMRC.
The deadline to contribute to ABAB’s annual survey on HMRC service standards is fast approaching
In the run up to the general election voters might hear discussion about the UK's 'tax gap', but what is it? ICAEW experts describe what this shortfall is, what causes it and whether it is getting bigger.
Based on estimated figures published by HMRC, the tax gap for 2022/23 is £39.8bn, equal to 4.8% of tax liabilities. ICAEW’s Tax Faculty looks at the key figures.
The move from basis periods to the tax year basis for unincorporated businesses means 2023/24 is an important tax year. We look at how to approach the tax return.
Is hypothecation - assigning particular tax revenues to a specific public policy goal - a good thing? Read Ian Young's article presenting the facts and then decide.
How can we more closely align income tax and NIC, and why is this important?
Currently there is widespread concern that many businesses, particularly large multinational corporations, are not paying enough tax on their profits. This is a serious issue at a time when public finances are under strain. This ICAEW report highlights the tough choices faced by businesses and politicians in relation to corporate tax.
In this episode of Accountancy Insights, we discuss important developments in corporate reporting, including amendments to UK GAAP, new standards IFRS18 and IFRS19, and the timeline for implementing IFRS S1 and IFRS S2.
FAQ on whether a building company can display the vendor's option to tax on land they are purchasing, on which they intent to build residential dwellings.
In 2019-20, HMRC imposed penalties of £14.8m on Qubic Advisory Services Ltd for failure to issue proper invoices and keep accurate records for its supplies of investment gold...
Digital Charging Solutions GmbH (DCS) provided a subscription service that allowed customers to charge their electric vehicles (EVs) at charge points operated by charge-point operators (CPOs). In considering the VAT...