Practical points: business tax 2024
Every month, the Tax Faculty publishes short, practical pieces of guidance to help agents and practitioners in their day-to-day work.
Off-payroll working and IR35
Off-payroll working, commonly referred to as "IR35", is the name given to the anti-avoidance legislation that ensures individuals providing services through an intermediary company are taxed correctly. Here you will find practical guidance, webinars and other resources related to IR35 and the taxation of intermediaries.
Corporation tax
Taxation of partnerships: a practical guide, 3rd ed.
- Library book
- 07 Mar 2025
A practical guide to the tax issues and principles which apply to different types of partnership, including LLPs, limited partnerships and partnerships with corporate members. It covers all the key taxes – income tax, capital gains tax, SDLT, corporation tax – as well as complex areas such as mergers and demergers, incorporations, and losses.
Exclusive
Making a business acquisition
- eBook chapter
- 01 Mar 2025
Advice on the typical process for making a business acquisition, written for anyone who advises or runs a family or owner-managed company. Includes an overview of agreeing outline terms, carrying out a due diligence investigation and the tax due diligence process.
Exclusive
Extracting funds from the company
- eBook chapter
- 01 Mar 2025
Chapter containing tax planning advice on extracting funds, written for anyone who advises or runs a family or owner-managed company.
Exclusive
Trading company and investment company computations under CTSA
- eBook chapter
- 01 Mar 2025
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.
Employment taxes
Practical guidance, commentary and support on employment taxation, including: benefits and expenses, company car tax, national insurance, PAYE and real-time information, and the taxation of intermediaries.
Latest articles
Economic update: key trends ahead of the Spring Statement
- Article
- 24 Mar 2025
The UK economy endured a poor start to 2025 amid January’s financial market turbulence. ICAEW’s Economies Director Suren Thiru discusses the implications.
Public sector finances disappoint ahead of Spring Statement
- Article
- 24 Mar 2025
The shortfall between receipts and public spending reached £132bn in the 11 months to February – and is potentially on track to hit £150bn by the end of the financial year.
Economy explainers: what is payrolling of benefits?
- Helpsheets and support
- 20 Mar 2025
ICAEW’s Tax Faculty sets out the key facts employers and employees need to know about the government’s plans to mandate the reporting of income tax and class 1A national insurance contributions (NICs) for most benefits in kind (BIKs) through pay as you earn (PAYE) in real time.
National Insurance
Economic update: key trends ahead of the Spring Statement
- Article
- 24 Mar 2025
The UK economy endured a poor start to 2025 amid January’s financial market turbulence. ICAEW’s Economies Director Suren Thiru discusses the implications.
Public sector finances disappoint ahead of Spring Statement
- Article
- 24 Mar 2025
The shortfall between receipts and public spending reached £132bn in the 11 months to February – and is potentially on track to hit £150bn by the end of the financial year.
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.
VAT
How the government can deliver growth
- Hub page
- 21 Mar 2025
Drawing on members expertise and our research into business confidence, ICAEW offers policymakers advice on how to approach regulating for growth.
Tax news in brief 19 March 2025
- Article
- 18 Mar 2025
Highlights from the broader tax news for the week ending 19 March 2025, including: HMRC guidance on the implications of the abolition of furnished holiday lettings treatment; and help from HMRC with preparing for Making Tax Digital for income tax.
Exclusive
Voluntary period of VAT deregistration
- Helpsheets and support
- 05 Mar 2025
FAQ about whether turnover from before a client voluntarily deregistered for tax should be taken into consideration, now that taxable turnover has unxepectedly increased significantly.
Business rates
Tax news in brief 26 February 2025
- Article
- 25 Feb 2025
Highlights from the broader tax news for the week ending 26 February 2025, including: a new feature in the agent services account (ASA); and an opinion from the general anti-abuse rule (GAAR) advisory panel on inheritance tax (IHT) arrangements.
Tax news in brief 19 February 2025
- Article
- 18 Feb 2025
Highlights from the broader tax news for the week ending 19 February 2025, including: an update from HMRC on the progress of some R&D tax relief enquiries; and updated HMRC guidance on employment status.
Member Insights: October/November 2024
- Article
- 28 Nov 2024
The Autumn Budget met with much criticism by members, with the impact of employers’ national insurance and the national living wage dominating feedback. Meanwhile, announcements on business rates and incentives for growth were conspicuous by their absence.
Capital allowances
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.
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.
Don’t forget April tax changes for double cab pick-ups, says ICAEW
- Article
- 21 Feb 2025
HMRC is changing its policy on double cab pick-ups (DCPUs). From April 2025, most DCPUs will be treated as cars, not vans, for direct tax purposes, potentially meaning increased tax bills for employers, employees and businesses.
Environmental taxes
Euro ‘omnibus’ proposal reveals softer CSRD and CSDDD
- Article
- 04 Mar 2025
The European Commission’s omnibus proposal waters down European sustainability reporting and assurance rules within CSRD, CSDDD and CBAM.
Exclusive
Carbon Border Adjustment Mechanism (CBAM) and EU Deforestation Regulation (EUDR): it’s time to act
- Webinar
- 11 Feb 2025
Learn how CBAM and EUDR will work and affect UK businesses, and what steps your business ought to take to avoid being caught out by the transitional arrangements and key dates.
Brace for EU environmental reporting rules, UK businesses urged
- Article
- 04 Feb 2025
If you’re trading with European customers, the Carbon Border Adjustment Mechanism and EU Deforestation Regulations need to be on your radar so you can supply customers with relevant data.
Partnership taxation
Taxation of partnerships: a practical guide, 3rd ed.
- Library book
- 07 Mar 2025
A practical guide to the tax issues and principles which apply to different types of partnership, including LLPs, limited partnerships and partnerships with corporate members. It covers all the key taxes – income tax, capital gains tax, SDLT, corporation tax – as well as complex areas such as mergers and demergers, incorporations, and losses.
Taxation of partnerships and private capital structures, 2nd ed.
- Library book
- 30 Sep 2024
An in-depth guide to the technical and practical UK tax issues around trading and professional partnerships and LLPs, as well as investment fund partnerships and related structures. Also covered are the associated special regimes, such as those for disguised investment management fees, carried interest and income-based carried interest.
Exclusive
Partnerships and Capital Gains Tax
- eBook chapter
- 31 Aug 2024
An overview of the treatment of capital gains by partnerships covering distribution of assets in kind amongst partners, changes in profit sharing ratios, adjustment through the accounts, payments outside the accounts, transfers between persons not at arm's length, disposals -annuity payments, shares acquired in stages and roll-over relief.
Self-employed and tax
Exclusive
New rules on cash basis for income tax
- Helpsheets and support
- 05 Mar 2025
FAQ about whether a loss in 24-25 tax year, can be set against other income of that year, and how new rules in the 2025/26 tax year will affect cash basis.
MTD quiz: what do you know?
- Article
- 28 Feb 2025
Making Tax Digital for income tax is on its way, but how much do you really know? Test your knowledge with our quiz.
Don’t forget April tax changes for double cab pick-ups, says ICAEW
- Article
- 21 Feb 2025
HMRC is changing its policy on double cab pick-ups (DCPUs). From April 2025, most DCPUs will be treated as cars, not vans, for direct tax purposes, potentially meaning increased tax bills for employers, employees and businesses.
Devolved taxes
Devolved taxes
- Hub page
- 27 Apr 2018
Support and guidance on taxation under the devolved governments of the UK; Northern Ireland, Scotland and Wales.
Bloomsbury Accounting and Tax Service - eBooks on devolved taxes
- Listing
- 21 Apr 2021
Browse Bloomsbury Accounting and Tax Service eBooks on devolved taxes.
Customs duties
Tax news in brief 19 February 2025
- Article
- 18 Feb 2025
Highlights from the broader tax news for the week ending 19 February 2025, including: an update from HMRC on the progress of some R&D tax relief enquiries; and updated HMRC guidance on employment status.
Tax news in brief 12 February 2025
- Article
- 12 Feb 2025
Highlights from the broader tax news for the week ending 12 February 2025, including: a reduction in the rates of interest on tax; the publication of help cards for employers; and changes to land transaction tax.
Tax news in brief 4 February 2025
- Article
- 04 Feb 2025
Highlights from the broader tax news for the week ending 4 February 2025, including: an increase in the statutory payments recovery rate for smaller businesses; and ICAEW’s response to a consultation of expanding tax conditionality.
Charities
Budget 2024 – what’s in it for charities?
- Article
- 08 Mar 2024
Facing continued economic challenges, an election on the near horizon and conflict in the Middle East and Ukraine, this was always going to be a challenging budget for the Chancellor. That did not stop the Chancellor from trying to pull some vote-winning rabbits out of the hat – although there was unfortunately little to benefit charities.
Charity tax reforms should not overly burden charities, cautions ICAEW
- Article
- 25 Jul 2023
While ICAEW’s Tax Faculty supports HMRC’s efforts to counter the abuse of charity tax rules, any reforms should be proportionate to the issue. Otherwise, the reforms risk deterring volunteer involvement and vital donations to charities.
Myth: Charities don’t have to pay taxes so need less money
- Report
- 14 Jul 2023
Charities are not automatically exempt from tax. Confusion arises because registered charities qualify for some tax exemptions, which leads to a mistaken belief that charities do not pay tax.
HMRC publishes new Charities newsletter
- Article
- 12 Jun 2023
HMRC’s Charities newsletter will be published periodically to update charities and their advisers on upcoming changes relating to tax that may affect them.
Construction industry scheme
Changes made to CIS processes for overseas businesses
- Article
- 06 Feb 2025
HMRC has updated its procedures to address challenges identified by ICAEW’s members in registering overseas businesses for the construction industry scheme (CIS).
Exclusive
The Construction Industry Scheme
- eBook chapter
- 01 Feb 2025
Practical guidance on how the Construction Industry Scheme (CIS) applies to businesses within the UK tax regime.
Exclusive
Employment status
- eBook chapter
- 01 Dec 2024
A chapter discussing the ways in which employment status may have to be considered by a business when it incorporates.
Construction industry scheme: guidance and commentary, 4th ed.
- Library book
- 29 Nov 2024
A practical guide to dealing with the requirements of the Construction Industry Scheme. This fourth edition has been substantially updated and includes references to new case decisions.
International taxes
Expert commentary and practical guidance from ICAEW related to international taxation regimes. You may also be interested in searching our tax guides by country.
BEPS
- Hub page
- 30 Jan 2018
Expert commentary and practical guidance from ICAEW related to base erosion and profit shifting, commonly known as BEPS, within international taxation.
Mandatory disclosure rules and DAC 6
- Hub page
- 03 Jul 2020
Practical guidance and support on tax disclosure around the world, including the UK's Mandatory Disclosure Rules and DAC 6.
Double tax agreements
- Hub page
- 30 Jan 2018
Expert commentary and practical guidance from ICAEW on issues related to double taxation and the use of tax treaties in international taxation
FATCA and CRS
- Hub page
- 10 May 2018
Guidance and information on the Foreign Account Tax Compliance Act (FATCA) and the Common Standard on Reporting and Due Diligence for Financial Account Information (CRS).
Transfer pricing
- Hub page
- 30 Jan 2018
Expert commentary and practical guidance from ICAEW related to transfer pricing in international taxation.
Residence and domicile
- Hub page
- 30 Jan 2018
Expert commentary and practical guidance from ICAEW related to residence and domicile in the UK personal tax regime, including offshore investments.
Sector specific and situation specific taxes
Certain industries have their own tax arrangements, while major events, such as the coronavirus pandemic, can also give rise to their own solutions.
Charities and taxation
Expert commentary and practical guidance from ICAEW related to the taxation of charitable organisations within the UK.
View allConstruction Industry Scheme
Expert commentary and practical guidance from ICAEW on the construction industry scheme (CIS) and how it applies for businesses within the UK tax regime.
View allCoronavirus and tax
Governments around the world announced tax measures to support businesses and individuals in response to the COVID-19 pandemic. The consequences of these actions continue to play out.
View all