Find out more about the Tax Faculty and upcoming events. Faculty members can access exclusive content, including TAXline, TAXguides, webinars, representations and support schemes.
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.
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.
If you’re bored with the general election, and not interested in football, now could be a good time to complete some continuing professional development (CPD) hours. ICAEW’s Tax Faculty can help you do it.
HMRC has provided an update on an issue affecting voluntary class 2 national insurance contributions (NIC) for 2022/23.
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.
Should a practitioner automatically respond to a professional clearance request? If so, what is the best way to proceed? Karen Eckstein explains how to deal with what can be a tricky situation.
The government is consulting on options to reform the VAT treatment of private hire vehicles in response to recent cases involving Uber. Ed Saltmarsh examines the case for making a change, and what this could look like.
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.
Answers are provided in this TAXguide to questions asked in ICAEW's webinar on the taxation of cars and vans, including electric vehicles and fuel.
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.
This webinar from the Tax Faculty will relay the practical implications of the payrolling of benefits in kind.
Involved in international trade? Delve into critical topics that impact businesses worldwide with this webinar from the Tax Faculty.
This webinar from the Tax Faculty will get you equipped to report results from the transitional year 2023/24.
The latest information and guidance on Making Tax Digital income tax self assessment (MTD ITSA) from the Tax Faculty.
A representation dated 6 June 2024 to a consultation published by HM Treasury on 11 March 2024.
A representation dated 1 May 2024 to a consultation published by the Committee of Public Accounts (PAC or the Committee) on 22 March 2024.
A representation dated 29 May 2024 to a consultation published by HM Treasury and HM Revenue & Customs on 6 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.