The government has set the date of the Budget and confirmed that VAT will be charged on private school fees paid from 29 July 2024 in relation to the school term starting in January 2025.

Journalists and politicians often talk about 'the deficit', but what is it? ICAEW experts describe what this public finance shortfall is and what it means for businesses and people.

The 'national debt' is something that is discuss in the media but what is it and how does it affect people and businesses? ICAEW experts offer this simple guide on public debt, why it matters and the challenges in controlling it.

Basis period reform is an important issue at the moment, with 2023/24 a transitional year. We look at the impact of this for businesses filling in their tax returns.

Highlights from the broader tax news for the week ending 31 July 2024, including: regulations have been made which exempt certain payments made to postmasters from tax; HMRC has updated its MTD guidance; and further information is now available from HMRC on the 2022/23 class 2 NIC issue affecting some taxpayers.

HMRC has contacted taxpayers who may have claimed more than £1m business asset disposal relief (BADR) up to and including 2022/23.

HMRC has confirmed that the UK will no longer be applying DAC 6 in its entirety following conclusion of the Free Trade Agreement with the EU. Only arrangements that would have fallen within Category D of DAC 6 will now need to be reported, in line with the OECD’s mandatory disclosure rules.

ICAEW’s Tax Faculty explains why all ICAEW members need to be alert to their potential reporting obligations. Highlighting common misconceptions and answering frequently asked questions about the regime.

An introduction to DAC6 and the OECD Mandatory Disclosure Regimes in the context of UK reporting.

HMRC will no longer automatically issue a cheque where an employee is due a repayment under pay as you earn (PAYE). Instead, the employee must take action to receive the repayment.

The second payment on account towards income tax self assessment (ITSA) liabilities and class 4 national insurance contributions (NIC) for 2023/24 is due by 31 July 2024.

Highlights from the broader tax news for the week ending 24 July 2024, including: a warning from HMRC to employers to remember pension obligations when employing summer staff; a survey from HMRC on communications around the new service for alcohol duty; and an international tax round-up.

In its third Pillar 2 update, HMRC explains aspects of the rules and sets out its plans for the coming months, including the release of the next stage of its Pillar 2 online service.

The First-tier Tribunal (FTT) ruled that remittances were taxable. The fact that the taxpayer did not benefit personally from the money did not change the tax position....

The Tax Faculty welcomes feedback on its updated content on Making Tax Digital (MTD).

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.

Draft regulations allow HMRC to assess the second penalty for late payment before the tax has been paid in full.

Reductions in the tax-free amount mean more taxpayers will find themselves caught in the capital gains tax net. We look at the issues to be aware of, including 60-day reporting and recent developments relating to principal private residence relief.

From the end of last year, HMRC increased the maximum tax debt that can be included when making a time to pay arrangement online, to £30,000 for individuals and £50,000 for businesses.

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.

Guidance for those providing tax services in the United Kingdom, on the prevention of money laundering and the countering of terrorist financing.

PCRT sets out the principles and standards of behaviour that all members, affiliates and students must follow in their tax work.

Reductions in the tax-free amount mean more taxpayers will find themselves caught in the capital gains tax net. We look at the issues to be aware of, including 60-day reporting and recent developments relating to principal private residence relief.

Highlights from the broader tax news for the week ending 17 July 2024, including: details of the Treasury’s new ministerial team; a change to the rules for land transaction tax; and a new VAT tool from HMRC.

With a clear mandate to govern, Sir Keir Starmer’s Labour party must take swift action to encourage growth and investment, says ICAEW.

This annual handbook provides practitioners with expert and up-to-date guidance on Stamp Duty Land Tax (SDLT), with reference to relevant legislation, case law and guidance from HMRC. The 2024-25 edition has been fully updated to take account of amended SDLT rates and other statutory developments, and additional case law and HMRC commentary has been added on various topics.

Highlights from the broader tax news for the week ending 17 July 2024, including: details of the Treasury’s new ministerial team; a change to the rules for land transaction tax; and a new VAT tool from HMRC.

The First-tier Tribunal (FTT) has dismissed an appeal from a taxpayer who accidentally incurred a 15% stamp duty land tax (SDLT) charge after a property chain collapsed. Placing his home in a company he...

HMRC contact information, including telephone numbers, online options and postal addresses, together with tips.

ICAEW’s Tax Faculty provides links to help practitioners find the latest tax rates, allowance and reliefs.

This guide to help you through the HMRC complaits process.

Basis period reform is an important issue at the moment, with 2023/24 a transitional year. We look at the impact of this for businesses filling in their tax returns.

Basis period reform is an important issue at the moment, with 2023/24 a transitional year. We look at the impact of this for businesses filling in their tax returns.

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.

HMRC’s accounts and charter report for 2023/24 show that it continues to underperform, with key targets missed and call waiting times increasing significantly.

Is hypothecation - assigning particular tax revenues to a specific public policy goal - a good thing? Read Ian Young's article presenting the facts and then decide.

How can we more closely align income tax and NIC, and why is this important?

Currently there is widespread concern that many businesses, particularly large multinational corporations, are not paying enough tax on their profits. This is a serious issue at a time when public finances are under strain. This ICAEW report highlights the tough choices faced by businesses and politicians in relation to corporate tax.

ICAEW’s Tax Faculty calls for targeted action to support private hire vehicle (PHV) passengers in its response to the consultation on measures that may be needed following judgements involving Uber.

The government has confirmed it will remove the VAT exemption for private school fees, and that the Office for Budget Responsibility (OBR) will assess all significant tax measures.