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Tax

The Tax area has information and guidance on technical and practical tax matters. There are links to events, the latest tax news and the Tax Faculty’s publications, including helpsheets, webinars and Tax representations.

In this section

Practical guidance, commentary and support on the taxation of business, including: capital allowances, entrepreneurs relief and corporation tax, as well as the taxation of partnerships, the self-employed and charities. 

Tax news in brief

Highlights from the broader tax news for the week ending 16 March 2022, including: guidance for businesses who continued to use the Lennartz mechanism; and a warning from HMRC about sharing personal information.

DAC 6: EU tax disclosure

Support and guidance on taxation under the devolved governments of the UK; Northern Ireland, Scotland and Wales
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.

Tax news in brief

Highlights from the broader tax news for the week ending 16 March 2022, including: guidance for businesses who continued to use the Lennartz mechanism; and a warning from HMRC about sharing personal information.

Tax news in brief

Highlights from the broader tax news for the week ending 9 March 2022, including: HMRC guidance on new power; HMRC payments; refunds of VAT wrongly charged; freeport tax site designation; QAHC guidance; new VAT regulations; HMRC webinars; guidance for employers paying overseas tax; and COVID travel easement ending.

Expert commentary and practical guidance from ICAEW related to international taxation regimes.

MDR: ICAEW concerned over backdated reporting

ICAEW’s Tax Faculty welcomes that the new rules designed to implement the OECD’s model mandatory disclosure regime are targeted at those arrangements that might allow or facilitate tax evasion. However, it has concerns over the backdated reporting requirements, which exceed those of the predecessor DAC 6 legislation.

Making tax digital

MTD ITSA: Your first 100 days plan

With only around 500 working days before the start of MTD ITSA, this webinar will focus your attention and outline clear actions that need to be taken in the next 100 days.

Expert commentary and practical guidance from ICAEW related to personal taxation, covering areas including: capital gains tax, income tax, inheritance tax, pensions, residence and domicile, savings and investments and trusts

Professional standards

Trust Registration Service extension narrowed

28 July: Fewer trusts will be within the scope of the expansion of the Trust Registration Service (TRS) than originally proposed, but the 30-day deadline for new trust registrations and rules granting third-party access to data remain unchanged.

CCAB anti-money laundering guidance

In March 2018, CCAB (The Consultative Committee of Accounting Bodies) published Anti-Money Laundering Guidance for the Accountancy Sector. It is aimed at all entities providing audit, accountancy, tax advisory, insolvency or related services such as trust and company services, by way of business.

Engagement letters helpsheet

Technical helpsheet providing sample wordings to help you draft engagement letters for a variety of typical engagements for both corporate and non-corporate clients. Includes full text and supplementary schedules.

Expert commentary and practical guidance from ICAEW related to the taxation of property in the UK regime, covering areas such as: ATED (annual tax on enveloped dwellings), business rates and stamp duty land tax. 

New tax measures for 2022

Angela Clegg outlines changes scheduled for April 2022 involving uncertain tax treatments, plastic packaging tax, residential property developer tax, MTD for VAT, trading licences, QAHCs, reliefs for the creative sector, tonnage tax, and national insurance.

Expert commentary and practical guidance from ICAEW related to stamp duty land tax in the UK regime. 
Support for agents on the day-to-day practicalities of tax administration with support on HMRC contacts, filing tax returns and making complaints.
Expert commentary and practical guidance from ICAEW related to tax compliance, as defined by HMRC. Support on appeals and investigations, avoidance, evasion and penalties.

Tax news in brief

Highlights from the broader tax news for the week ending 16 March 2022, including: guidance for businesses who continued to use the Lennartz mechanism; and a warning from HMRC about sharing personal information.

ICAEW works to support tax reform

TAXguide 21/17: The tax implications of Brexit

Although many of the implications of Brexit are currently unknown, VAT and customs duties are likely to be affected. This guide outlines the potential tax consequences. This guide was updated following the publication on 23 August 2018 of guidance from HMRC as to what will happen if there is no Brexit deal.

Expert commentary and practical guidance from ICAEW related to VAT under the UK tax regime. 

Tax news in brief

Highlights from the broader tax news for the week ending 23 March 2022, including: guidance on plastic packaging tax that has the force of law; increased interest rates for late payment of tax; and a tax-geared penalty for failure to comply with an information notice.

Tax news in brief

Highlights from the broader tax news for the week ending 16 March 2022, including: guidance for businesses who continued to use the Lennartz mechanism; and a warning from HMRC about sharing personal information.

Babylon Farms

A recent case has highlighted the need for VAT registered businesses to be operating on sound and commercial terms for input VAT to be reclaimable. In particular this case focused on an agricultural activity which was being operated through a company, separately to the owners’ other activities.