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Tax reform

ICAEW’s Tax Faculty draws on its members’ expertise to examine hot topics in tax and provide practical solutions to challenges faced by policymakers and regulators. This is underpinned by the faculty’s Ten Tenets for a Better Tax System that set out the characteristics against which it evaluates tax systems and tax policies.

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Ten Tenets for a Better Tax System

The Tax Faculty has formulated Ten Tenets for a Better Tax System. This comprises 10 key characteristics against which to evaluate tax systems and tax policies, which include: simplicity, certainty and reasonableness.
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Building a better UK tax system

As HMRC embarks on a 10-year review of tax administration, ICAEW examines the potential opportunities and challenges to reforming the UK's tax system to be fit for a digital future.
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Autumn Budget 2024

On 30 October 2024, Chancellor Rachel Reeves delivered the Autumn Budget. Read ICAEW's reaction and analysis.
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Tax Faculty analysis of UK Budget and fiscal events

Exclusive Investors’ relief: stepping out of the shadows
  • Article
  • 06 Feb 2025
Although not as well known as business asset disposal relief, investors’ relief is just as generous and just as challenging. Stephen Relf and Katherine Ford explain why.
ICAEW comments on Finance Bill 2024-25
  • Article
  • 16 Dec 2024
ICAEW’s Tax Faculty monitors the progress of Finance Bill 2024-25 and sets out its concerns regarding some aspects of the legislation, including the impact of the mid-year changes to rates of capital gains tax (CGT) on tax returns.
Scottish Budget makes income tax changes
  • Article
  • 09 Dec 2024
The Scottish government has set out its tax plans for 2025 to 2026, announcing changes to the income tax starter and basic rate bands and an increase in the rate of the additional dwelling supplement for land and building transaction tax (LBTT).
Exclusive The tax benefits of employee ownership trusts
  • Article
  • 05 Dec 2024
In the second of two articles on employee ownership trusts (EOTs), Nick Wright explores the capital gains tax exemption for the shareholders of the trading company and the income tax exemption for employees receiving bonuses.
940,000 employers to pay more NIC in 2025/26
  • Article
  • 19 Nov 2024
Legislation introduced to Parliament provides for the changes to employers’ national insurance contributions (NIC) announced at the Autumn Budget 2024.
Tax news in brief 20 November 2024
  • Article
  • 19 Nov 2024
Highlights from the broader tax news for the week ending 20 November 2024, including: an update on MTD ITSA; suggestions for HMRC on how to reduce the tax gap; and legislation to enact the changes to business rates announced at the Autumn Budget 2024.
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).
Tax news in brief 13 November 2024
  • Article
  • 12 Nov 2024
Highlights from the broader tax news for the week ending 13 November 2024, including: the publication of Finance Bill 2024/25; new guidelines for compliance from HMRC; and an update on the single trade window.
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Tax representations

ICAEW REP 011/25 Carried interest qualifying conditions wef 6-4-2026
  • Representation
  • 31 Jan 2025
  • PDF (648kb)
A representation dated 30 January 2025 to a consultation published by HM Treasury on 30 October 2024.
ICAEW REP 008/25 Tackling the hidden economy expanding tax conditionality to new sectors
  • Representation
  • 28 Jan 2025
  • PDF (125kb)
A representation dated 28 January 2025 to a consultation published by HMRC on 30 October 2024.
ICAEW REP 006/25 Simplifying the taxation of offshore interest
  • Representation
  • 22 Jan 2025
  • PDF (578kb)
A representation dated 22 January 2025 to a consultation published by HMRC on 30 October.
ICAEW REP 005/25 IHT on pensions liability - reporting and payment
  • Representation
  • 22 Jan 2025
  • PDF (632kb)
A representation dated 22 January 2025 to a consultation published by HMRC on 30 October 2024.
ICAEW REP 002/25 New ways to tackle non-compliance
  • Representation
  • 21 Jan 2025
  • PDF (231kb)
A representation dated 17 January 2025 to a consultation published by HMRC on 30 October.
ICAEW REP 023/23 Offshore investment income proposals
  • Representation
  • 21 Jan 2025
  • PDF (412kb)
A representation dated 14 March 2023 to a proposal by HMRC.
ICAEW REP 091/24 Finance Bill 2024-25 Clauses 21 and 37 to 46 and Schedules 8 to 13 - Replacement of special rules related to domicile
  • Representation
  • 02 Jan 2025
  • PDF (223kb)
A briefing for MPs on the Finance Bill by ICAEW Tax Faculty.
ICAEW REP 089/24 Finance Bill 2024-25: Clause 47 - Value added tax - Removal of exemption for private school fees
  • Representation
  • 11 Dec 2024
  • PDF (207kb)
A briefing for MPs on the Finance Bill by ICAEW Tax Faculty.
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Watch a Tax Faculty webinar

Webinars and videos have been designed by the Tax Faculty to provide practical guidance to practitioners on important developments to tax practice and policy.

You can register for Tax Faculty webinars by visiting our events page.
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