Displaying 1-30 of 168 results
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
Technical round-up: May 2024
- May 2024
- ICAEW Insights
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.
INSIGHTS VIEWPOINT
HMRC consults on a change to the reformed penalty system
- May 2024
- ICAEW Insights
Draft regulations allow HMRC to assess the second penalty for late payment before the tax has been paid in full.
INSIGHTS VIEWPOINT
Taxpayers let down by poor HMRC service, says NAO
- May 2024
- ICAEW Insights
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.
INSIGHTS VIEWPOINT
Seven software products now support MTD ITSA
- May 2024
- ICAEW Insights
HMRC has added APARI and Digita Personal Tax to the list of software products compatible with making tax digital (MTD) for income tax self assessment (ITSA).
INSIGHTS VIEWPOINT
Agents can register to payroll client’s benefits-in-kind
- May 2024
- ICAEW Insights
It is now possible for agents to register with HMRC for benefits-in-kind (BIK) to be taxed through their client's payroll for 2025/26 onwards.
INSIGHTS VIEWPOINT
How taxpayers can take “reasonable care”
- May 2024
- ICAEW Insights
ICAEW’s Tax Faculty explains how taxpayers can take reasonable care when submitting a tax return, including when a second opinion may be needed.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
ICAEW technical round-up: April
- Apr 2024
- ICAEW Insights
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.
INSIGHTS VIEWPOINT
HMRC launches fully digital service for voluntary NI contributions
- Apr 2024
- ICAEW Insights
The government has launched a new service that allows individuals to identify gaps in their national insurance (NI) record and make voluntary contributions without phoning for a reference number.
INSIGHTS VIEWPOINT
Agents can now change contact details online
- Apr 2024
- ICAEW Insights
New functionality in the agent services account allows agents to change their contact details online.
INSIGHTS VIEWPOINT
Avoid payroll errors with HMRC’s online starter checklist
- Apr 2024
- ICAEW Insights
New employees should complete the starter checklist before their first payday so their employer can report the details via PAYE RTI to HMRC correctly first time.
INSIGHTS VIEWPOINT
Consider using the real-time CGT service to report gains
- Apr 2024
- ICAEW Insights
ICAEW’s Tax Faculty is reminding taxpayers that HMRC's real-time service can be used to report capital gains outside of self assessment, including gains on cryptoassets.
INSIGHTS VIEWPOINT
MTD ITSA private beta testing relaunched
- Apr 2024
- ICAEW Insights
Check the eligibility criteria for MTD ITSA private beta testing and if your software developer is ready. An ICAEW Tax Faculty webinar on 24 April will explain more.
INSIGHTS VIEWPOINT
HMRC contacts more taxpayers named in the Pandora Papers
- Apr 2024
- ICAEW Insights
HMRC is sending a further batch of one-to-many letters to taxpayers it suspects may have UK tax to pay on foreign income and gains.
INSIGHTS VIEWPOINT
Only five software products ready for MTD ITSA testing
- Apr 2024
- ICAEW Insights
Just five software products will be available at the launch of MTD ITSA private beta testing on 22 April.
INSIGHTS VIEWPOINT
HMRC publishes extra guidance on lifetime allowance abolition
- Apr 2024
- ICAEW Insights
HMRC has published additional guidance for pension scheme administrators on a range of issues, including the abolition of the lifetime allowance.
INSIGHTS VIEWPOINT
New penalty regime to apply to taxpayers testing making tax digital
- Apr 2024
- ICAEW Insights
HMRC has explained how penalties will be charged where volunteers testing making tax digital income tax self assessment are late in making a payment or submitting a return.
INSIGHTS VIEWPOINT
New guidance on applying for help with paying IHT
- Apr 2024
- ICAEW Insights
HMRC has published guidance on applying for a grant on credit and on recent updates to tax rules and processes relevant to trusts and estates.
INSIGHTS VIEWPOINT
Improved process for paying voluntary NIC for periods abroad
- Apr 2024
- ICAEW Insights
A person living or working abroad can apply digitally to pay voluntary NIC to fill gaps in their record.
INSIGHTS VIEWPOINT
Making tax digital testing to be launched
- Mar 2024
- ICAEW Insights
Agents will be invited to sign up clients later in April for making tax digital income tax self assessment. ICAEW will consider the pros and cons in a webinar.
INSIGHTS VIEWPOINT
ICAEW gives five reasons to use the HMRC app
- Mar 2024
- ICAEW Insights
Join the 1.2m people a month using HMRC’s app to get tax information, stay up to date with tax payments and more.
INSIGHTS VIEWPOINT
HMRC’s VAT online service for agents to be decommissioned
- Mar 2024
- ICAEW Insights
Agents should use their agent services account to manage the VAT affairs of all clients going forward.
INSIGHTS VIEWPOINT
Taxpayers will start to use GOV.UK One Login
- Mar 2024
- ICAEW Insights
From May 2024, taxpayers accessing HMRC’s online services for the first time will be asked to create a GOV.UK One Login account.
INSIGHTS VIEWPOINT
HMRC halts decision to restrict helplines
- Mar 2024
- ICAEW Insights
One day after announcing restrictions to its VAT, self assessment and PAYE helplines, HMRC has announced a change in approach.
INSIGHTS VIEWPOINT
Families should reconsider claiming child benefit from 6 April
- Mar 2024
- ICAEW Insights
Approximately 180,000 families are encouraged to reconsider claiming child benefit in light of changes to the high income child benefit charge, which apply from 6 April 2024.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
MTD ITSA regulations amended but concerns remain
- Feb 2024
- ICAEW
ICAEW’s Tax Faculty examines the latest MTD publications, including the amended MTD ITSA regulations and the government’s response to the public accounts committee report on MTD.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
ICAEW technical round-up: January 2024
- Jan 2024
- ICAEW Insights
This month’s top stories include mandated payrolling employer-provided benefits; information around the abolition of the pensions lifetime allowance; and an explainer on how to calculate NICs for directors.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
ICAEW responds to latest MTD ITSA consultation
- Jan 2024
- ICAEW
Amendments to the regulations and notices for making tax digital income tax self assessment (MTD ITSA) need to be set in the context of wider concerns about the programme.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
HMRC consults on draft making tax digital regulations
- Dec 2023
- ICAEW
ICAEW’s Tax Faculty is seeking feedback on draft regulations and notices on MTD ITSA. The faculty has highlighted four key points for members to consider.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
Public Accounts Committee report criticises MTD programme
- Nov 2023
- ICAEW
HMRC has lost sight of needing to put taxpayers at the heart of changes to the tax system, warns PAC.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
MTD ITSA announcement disappoints
- Nov 2023
- ICAEW
The government has missed the opportunity to seriously reconsider its MTD ITSA policy. The decision on mandating MTD for the self-employed and landlords with turnover below £30,000 is to remain under review.
Displaying 1-30 of 168 results
Free webinar on MTD ITSA
Making Tax Digital income tax self assessment (MTD ITSA) is scheduled to start from April 2026. The outcome of the policy review for small businesses was announced in November 2023 and amended regulations were laid before parliament in February 2024. HMRC is launching a private beta pilot for 2024/25, starting in April. Join the tax team for the latest information, including the pros and cons of joining the pilot.
- Register to attend
- Free
- 24/04/2024 @ 12:00 - 13:00
TAXconnect
Search for a consultant to help you with a specific technical tax problem. TAXconnect works on a telephone ‘hotline’ system, whereby consultants offer advice to fellow Tax Faculty members on tax problems for a nominal fee.