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
Exclusive
Tax reliefs on a PCP car purchase
- Helpsheets and support
- 10 Feb 2025
FAQ on whether a sole trader client, who is considering buying a new electric car through a Personal Contract Purchase (PCP) contract, is entitled to any tax reliefs on the purchase.
Business tax compliance costs £15bn a year
- Article
- 10 Feb 2025
In its latest report, the National Audit Office (NAO) explores the costs for businesses in meeting their tax obligations and for HMRC in administering the tax system. It reveals UK businesses incur costs of at least £15.4bn each year.
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
Making tax digital tracker
- eBook
- 01 Feb 2025
The Tracker provides plain English guidance on the operation of MTD, with sections covering VAT, income tax, corporation tax and tax agents in relation to MTD. Includes information on penalties which may be imposed for non-compliance with the MTD regime, as well as the appeals process.
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
Tax relief for pension contributions can be claimed online
- Article
- 13 Feb 2025
Pay as you earn (PAYE) taxpayers who want to claim additional tax relief for contributions to a personal or workplace pension scheme can use a new HMRC online form.
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.
Check for state pension gaps by 5 April 2025, says HMRC
- Article
- 11 Feb 2025
HMRC is encouraging people to check if they could increase their state pension by making voluntary national insurance (NI) contributions by 5 April 2025.
National Insurance
Check for state pension gaps by 5 April 2025, says HMRC
- Article
- 11 Feb 2025
HMRC is encouraging people to check if they could increase their state pension by making voluntary national insurance (NI) contributions by 5 April 2025.
Member Insights: January 2025
- Article
- 30 Jan 2025
The effects of the Autumn Budget measures are trickling through and driving a slump in business confidence, resulting in a muted appetite for investment.
Public finance woe as Chancellor battles to stay on track
- Article
- 23 Jan 2025
The latest public sector finance figures from the Office of National Statistics are slightly worse than expected as the economy remains fragile.
VAT
Exclusive
Place of supply - private education services and UK VAT
- Helpsheets and support
- 10 Feb 2025
FAQ from a private school, on the new VAT treatment of its fees from 1 January 2025, and whether the new rules apply to overseas customers who send their children to that school.
Exclusive
Help from HMRC with VAT compliance controls
- Article
- 07 Feb 2025
HMRC has published new guidance to help businesses reduce the risk of making VAT errors. Rob Janering and Simon Atkins highlight the key points that businesses and their agents need to be aware of.
VAT: Fundraising events
- Helpsheets and support
- 06 Feb 2025
The Yorkshire Agricultural Society (the Society) is a charity that organises and runs the annual Great Yorkshire Show. For the VAT exemption for charitable fundraising events to apply, the show’s primary purpose must be to raise money...
Business rates
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.
How to ensure colleagues understand financial information
- Article
- 27 Nov 2024
With local government budgets under pressure and more councils adopting commercialisation strategies, key stakeholders must have a strong grasp of financial information to aid sound decision-making.
Inside local government budgets: finance teams and funding
- Article
- 22 Nov 2024
Councils deliver a host of critical services to local communities, while under increasing scrutiny of their finances. ICAEW examines the work of local authority finance teams and explains how income is raised.
Capital allowances
Exclusive
Tax reliefs on a PCP car purchase
- Helpsheets and support
- 10 Feb 2025
FAQ on whether a sole trader client, who is considering buying a new electric car through a Personal Contract Purchase (PCP) contract, is entitled to any tax reliefs on the purchase.
HMRC provides further guidance on FHL abolition
- Article
- 12 Nov 2024
HMRC has published guidance to clarify issues raised during the consultation on the draft legislation to abolish tax rules for furnished holiday lets (FHLs).
Government publishes its plans for corporation tax
- Article
- 30 Oct 2024
The government has set out its intentions for corporation tax for the next five years, delivering on its commitment to publish a business tax roadmap at the Autumn Budget.
Environmental taxes
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.
Corporate Reporting Faculty Events 2025
- Listing
- 13 Jan 2025
View upcoming webinars and events from the Corporate Reporting Faculty.
Understanding EU CBAM: What UK traders need to know
- Webinar
- 13 Nov 2024
Learn about the EU Carbon Border Adjustment Mechanism (CBAM) and its impact on UK traders at this free webinar from the British Chambers of Commerce.
Partnership taxation
Partnership taxation: HMRC’s appeal on LLP salaried members legislation allowed
- Helpsheets and support
- 06 Feb 2025
HMRC’s appeal in the limited liability partnership (LLP) ‘salaried members’ legislation case of BlueCrest Capital Management (UK) LLP and others has been unanimously allowed by the Court of Appeal...
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
HMRC contacts self-employed delivery drivers
- Article
- 13 Jan 2025
Individuals who worked as delivery drivers in 2023/24 and were not paid through pay as you earn should consider registering for self assessment if they have not already done so.
Exclusive
Taxation of the self-employed
- No content type
- 06 Nov 2024
Contact details for those in TAXconnect who can offer advice on tax questions related to taxation of the self-employed.
ICAEW makes its case for Budget tax measures
- Article
- 19 Sep 2024
ICAEW has set out its recommendations for the business tax roadmap to be published at the Budget and has encouraged the government to carry-out a wider review of the tax system. ICAEW's Tax Faculty goes through the details.
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 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.
Tax news in brief 18 September 2024
- Article
- 18 Sep 2024
Highlights from the broader tax news for the week ending 18 September 2024, including: HMRC pillar two guidance; an update to the system for providing information in support of a claim for R&D tax relief; and new VAT legislation relating to caravans.
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
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.
Exclusive
Self-employment
- eBook chapter
- 01 Oct 2024
A chapter on the UK tax treatment of self-employment, containing worked examples throughout.
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