Displaying 1-30 of 118 results
INSIGHTS VIEWPOINT
Tax relief for pension contributions can be claimed online
- Feb 2025
- ICAEW Insights
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.
INSIGHTS VIEWPOINT
New tax return requirements for sole traders and directors
- Feb 2025
- ICAEW Insights
Taxpayers may need to provide more information in their 2025/26 self assessment tax returns as some voluntary requirements have been made mandatory and new mandatory requirements have also been introduced.
INSIGHTS VIEWPOINT
HMRC will not accept some in-year trust and estate tax returns
- Feb 2025
- ICAEW Insights
Due to the change in the rate of capital gains tax (CGT) from 30 October 2024, trustees and personal representatives (PRs) may need to wait until after the end of the tax year to submit 2024/25 tax returns.
TAX FACULTY
What’s CARF got to do with it?
- Feb 2025
- ICAEW
- Taxline
Members of ICAEW’s digital assets working party explore the implications of the government’s plans to implement the Cryptoasset Reporting Framework in the UK with effect from 1 January 2026.
INSIGHTS VIEWPOINT
Over one million taxpayers may face £100 penalty
- Feb 2025
- ICAEW Insights
HMRC estimates that 1.1 million taxpayers missed the 31 January 2025 deadline for filing their 2023/24 tax return. ICAEW explains the penalties, and why late filers should consider whether an easement applies, or if they have grounds to appeal.
INSIGHTS VIEWPOINT
31 January deadline for public sector pension scheme members
- Jan 2025
- ICAEW Insights
ICAEW explains why 31 January 2025 is a key deadline for members of public sector pension schemes disclosing McCloud tax charges and highlights HMRC guidance on completing the 2023/24 tax return where a pension statement is received late.
INSIGHTS VIEWPOINT
Claims for job expenses can be made online
- Jan 2025
- ICAEW Insights
The option for an employee to make a pay as you earn (PAYE) claim online for tax relief for employment expenses has been restored.
INSIGHTS VIEWPOINT
ICAEW comments on Finance Bill 2024-25
- Dec 2024
- ICAEW Insights
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.
INSIGHTS VIEWPOINT
Guidance on making claims for foreign tax credit relief
- Dec 2024
- ICAEW Insights
HMRC is writing to taxpayers who claimed relief for foreign tax paid on employment or other income in their self assessment return for 2022/23 and may be considering making a similar claim for 2023/24.
INSIGHTS VIEWPOINT
Request overlap information from HMRC by 31 December
- Nov 2024
- ICAEW Insights
Taxpayers and agents needing to use HMRC’s online service to obtain overlap relief details for 2023/24 income tax self assessment tax returns are asked to do so by 31 December 2024.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
Technical round-up: October 2024
- Oct 2024
- ICAEW Insights
This month’s top stories feature eight Budget updates covered by ICAEW’s Tax Faculty, a list of software products that are now ready for MTD ITSA, and new VAT guidance for private schools.
Tax news in brief 16 October 2024
- Oct 2024
- ICAEW Insights
Highlights from the broader tax news for the week ending 16 October 2024, including: an update on the new independent film tax credit; HMRC encourages taxpayers to look online for information; and a HMRC one-to-many campaign relating to 2022/23 tax returns.
INSIGHTS VIEWPOINT
Agents asked to finalise 2022/23 tax returns
- Oct 2024
- ICAEW Insights
HMRC is writing to agents who have clients with self assessment tax returns for 2022/23 that still include provisional figures.
INSIGHTS VIEWPOINT
Non-doms asked to check 2022/23 tax returns
- Sep 2024
- ICAEW Insights
HMRC is asking individuals who are not UK-domiciled (non-doms) and are long-term UK residents to check if they should have paid the remittance basis charge for 2022/23.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
Technical round-up: September 2024
- Sep 2024
- ICAEW Insights
This month’s top stories feature ICAEW’s push for Budget tax reforms and a delay in VAT on private school fees, along with a reminder for high earners to submit their 2021/22 tax returns.
INSIGHTS VIEWPOINT
High earners may need to submit 2021/22 tax returns
- Sep 2024
- ICAEW Insights
HMRC is writing to taxpayers whose income exceeded £200,000 in 2021/22 and asking them to check if they should have submitted a tax return for that year.
INSIGHTS VIEWPOINT
Tax return fix for student loan deductions
- Sep 2024
- ICAEW Insights
Taxpayers who make student loan repayments and whose income includes payrolled benefits in kind (BIK) should follow HMRC’s guidance when completing their self assessment (SA) tax return, warns ICAEW.
INSIGHTS VIEWPOINT
Taxpayers should check HICBC for 2022/23
- Aug 2024
- ICAEW Insights
HMRC is asking taxpayers to amend their 2022/23 tax return if they should have paid the high income child benefit charge (HICBC) and didn’t, or if they declared the wrong amount.
INSIGHTS VIEWPOINT
Claims for investors’ relief may not be valid
- Aug 2024
- ICAEW Insights
HMRC is writing to taxpayers who claimed for investors’ relief on their 2022/23 income tax self assessment (ITSA) return and do not appear to meet the conditions for the relief.
Exclusive
TAX FACULTY
How to deal with an information request from a third party
- Aug 2024
- Karen Eckstein
- Taxline
In this, the final article in a three-part series looking at problem areas in practice, Karen Eckstein explores the issues to consider when dealing with a request for information from a bank or another adviser.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
Technical round-up: July 2024
- Jul 2024
- ICAEW Insights
This month’s top stories include what members might see in the next Budget in October, HMRC writing to persons with significant control for their tax returns, and a warning on workplace nurseries.
INSIGHTS VIEWPOINT
800 agents asked to check tax returns for errors
- Jul 2024
- ICAEW Insights
HMRC is writing to agents where the information declared in a client’s tax return for 2022/23 does not match information provided by the client’s employer, or held by HMRC for child benefit purposes.
INSIGHTS VIEWPOINT
HMRC targets persons with significant control
- Jul 2024
- ICAEW Insights
In its latest one-to-many campaign, HMRC is writing to persons with significant control (PSC) who have not filed a tax return or may not have declared all their income.
INSIGHTS VIEWPOINT
Basis period reform: what you need to know
- Jun 2024
- ICAEW Insights
The move from basis periods to the tax year basis for unincorporated businesses means 2023/24 is an important tax year. We look at how to approach the tax return.
Exclusive
TAX FACULTY
Responding to a professional enquiry
- May 2024
- ICAEW
- Taxline
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.
Tax news in brief 29 May 2024
- May 2024
- ICAEW
Highlights from the broader tax news for the week ending 29 May 2024, including: new advisory fuel rates; an issue affecting non-resident companies filing tax returns; and an update on refunds of voluntary Class 2 NIC.
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.
Exclusive
TAX FACULTY
Basis period reform begins to bite
- Apr 2024
- ICAEW
- Taxline
Financial year 2023/24 is important in the move from basis periods to the tax year basis for unincorporated businesses. Richard Jones looks at how to approach the change.
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
HMRC corrects advice given on tax relief for boiler repairs
- Mar 2024
- ICAEW Insights
In 2023, HMRC issued a letter stating that boiler upgrades did not constitute a repair. However, HMRC is now contacting affected taxpayers acknowledging that this advice was incorrect.
Displaying 1-30 of 118 results
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