Practical points: business tax 2024
Every month, the Tax Faculty publishes short, practical pieces of guidance to help agents and practitioners in their day-to-day work.
Off-payroll working and IR35
Off-payroll working, commonly referred to as "IR35", is the name given to the anti-avoidance legislation that ensures individuals providing services through an intermediary company are taxed correctly. Here you will find practical guidance, webinars and other resources related to IR35 and the taxation of intermediaries.
Corporation tax
HMRC updates its guidance on capital allowances
- Article
- 18 Jun 2025
ICAEW’s Tax Faculty provides a summary of recent changes to HMRC’s guidance on capital allowances, including updated guidance on the meaning of “unused and not second-hand" for the purposes of first year allowances (FYAs).
Exclusive
The fog clears over R&D tax relief
- Article
- 18 Jun 2025
Issues over subsidised expenditure and subcontracting have made it difficult for companies to see clearly when it comes to research and development (R&D) tax relief, says Randeep Dhaliwal, who welcomes revised guidance from HMRC.
Tolley's yellow tax handbook, 2025-26
- Library book
- 31 May 2025
Annual multi-volume work bringing together the fully amended and annotated text of all legislation and official material relating to income tax, capital gains tax, corporation tax, national insurance contributions, tax credits, petroleum revenue tax and inheritance tax. Includes footnotes indicating amendments to legislation, and cross-references to the HMRC Manuals.
Tolley's corporation tax, 2025-26
- Library book
- 27 May 2025
An annual book on corporation tax law and practice, bringing together the latest legislation, case law and ancillary material. It is arranged by subject, with various aspects of corporation tax compliance and planning being covered in turn. Worked examples are included to clarify complex points.
Employment taxes
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.
Latest articles
Employers have until 6 July to file P11Ds for 2024/25
- Article
- 13 Jun 2025
ICAEW’s Tax Faculty reminds employers of the deadline to file forms P11D and P11D(b) and explains how to correct errors.
Exclusive
Faculty news: June 2025
- Helpsheets and support
- 05 Jun 2025
Frank Haskew looks at the latest Tax Faculty activity, including: ICAEW’s response to the consultation on proposals for new powers to tackle tax agents facilitating non-compliance; and engagement with HMRC in relation to delays in issuing income tax repayments.
Tolley's yellow tax handbook, 2025-26
- Library book
- 31 May 2025
Annual multi-volume work bringing together the fully amended and annotated text of all legislation and official material relating to income tax, capital gains tax, corporation tax, national insurance contributions, tax credits, petroleum revenue tax and inheritance tax. Includes footnotes indicating amendments to legislation, and cross-references to the HMRC Manuals.
National Insurance
Employers have until 6 July to file P11Ds for 2024/25
- Article
- 13 Jun 2025
ICAEW’s Tax Faculty reminds employers of the deadline to file forms P11D and P11D(b) and explains how to correct errors.
Exclusive
Faculty news: June 2025
- Helpsheets and support
- 05 Jun 2025
Frank Haskew looks at the latest Tax Faculty activity, including: ICAEW’s response to the consultation on proposals for new powers to tackle tax agents facilitating non-compliance; and engagement with HMRC in relation to delays in issuing income tax repayments.
Boost from April tax rises absorbed by higher spending
- Article
- 23 May 2025
The provisional deficit for April 2025 of £20.2bn was £1.0bn higher than the same month last year as the rise in employer national insurance was not enough to fully offset increases in public spending and investment.
VAT
Tax news in brief 17 June 2025
- Article
- 17 Jun 2025
Highlights from the broader tax news for the week ending 17 June 2025, including: the government’s tax policy making principles; and HMRC’s latest Spotlight, covering umbrella companies.
Employers have until 6 July to file P11Ds for 2024/25
- Article
- 13 Jun 2025
ICAEW’s Tax Faculty reminds employers of the deadline to file forms P11D and P11D(b) and explains how to correct errors.
ICAEW influences EU VAT simplification
- Article
- 10 Jun 2025
How to grow: long-time ICAEW members have contributed valuable insights to the EU’s policy debate on how to simplify VAT. Two of them explain the rationale behind the Institute’s involvement.
Business rates
April 2025
- Article
- 15 Apr 2025
Topic include: The Spring Statement, the Reserved Investor Fund, business rates, SDLT and the Construction Industry Scheme.
Technical round-up: March 2025
- Article
- 27 Mar 2025
This month’s top stories feature 300,000 people who no longer need to submit a tax return, 10 tax changes taking effect from this April, and HMRC launching a new agent query resolution service.
Be bolder in reforming business rates, says ICAEW
- Article
- 18 Mar 2025
ICAEW calls for business rates to be included in an extended business tax roadmap in its response to the government’s consultation on business rates reform.
Capital allowances
HMRC updates its guidance on capital allowances
- Article
- 18 Jun 2025
ICAEW’s Tax Faculty provides a summary of recent changes to HMRC’s guidance on capital allowances, including updated guidance on the meaning of “unused and not second-hand" for the purposes of first year allowances (FYAs).
The fundamentals of capital allowances
- Library book
- 01 May 2025
A short digest outlining the key elements of the capital allowances regime. Includes examples of the technical provisions relating to the common areas where capital allowances are available.
A-Z of plant & machinery, 2025-26
- Library book
- 25 Apr 2025
This book assists with determining whether particular assets are likely to qualify as plant or machinery for capital allowance purposes, with reference to case law and HMRC guidance.
Environmental taxes
Tolley's orange tax handbook, 2025-26
- Library book
- 31 May 2025
Annual two-volume work containing the latest indirect tax legislation. It includes up-to-date legislation and technical material relating to value added tax, stamp taxes, insurance premium tax, landfill tax, aggregates levy and climate change levy.
Government sets out new tax to address carbon leakage
- Article
- 28 Apr 2025
Draft legislation providing for the introduction of a UK carbon border adjustment mechanism (CBAM) from January 2027 has been published for technical consultation.
Euro ‘omnibus’ proposal reveals softer CSRD and CSDDD
- Article
- 04 Mar 2025
The European Commission’s omnibus proposal waters down European sustainability reporting and assurance rules within CSRD, CSDDD and CBAM.
Partnership taxation
Exclusive
MTD requirements from April 2026
- Helpsheets and support
- 04 Jun 2025
FAQ on whether a client operating a trading business through a partnership with an annual income of approximately £75,000, will be required to report their income through Making Tax Digital (MTD) from April 2026 onwards.
Exclusive
Changes in company size thresholds and directors’ report requirements
- Helpsheets and support
- 28 Mar 2025
New regulations that increase company size thresholds and remove certain requirements from the directors’ report are effective from 6 April 2025. The Corporate Reporting Faculty provides an overview of the changes.
Taxation of partnerships: a practical guide, 3rd ed.
- Library book
- 07 Mar 2025
A practical guide to the tax issues and principles which apply to different types of partnership, including LLPs, limited partnerships and partnerships with corporate members. It covers all the key taxes – income tax, capital gains tax, SDLT, corporation tax – as well as complex areas such as mergers and demergers, incorporations, and losses.
Self-employed and tax
HMRC working on solution for class 2 NIC issue
- Article
- 13 Jun 2025
HMRC has issued self assessment calculations for 2024/25 collecting class 2 national insurance contributions (NIC) in error. ICAEW’s Tax Faculty explains how the issue has arisen and the action that taxpayers and agents should take.
Self-employed and tax: A trade existed, but not with a view to profit
- Helpsheets and support
- 05 Jun 2025
The First-tier Tribunal (FTT) has found that a shoot run on a country estate was a commercial trade, but as it was not run with a view to profit, no sideways loss relief was available....
Exclusive
Cash basis – a practical example
- Article
- 10 Apr 2025
As the first sets of accounts for the 2024/5 financial year start crossing desks, it may be worth reconsidering the use of the cash basis, which is, of course, the new default position for unincorporated accounts. The switch was announced in 2023 and will apply from 2024/5. Those wishing to continue on an accruals basis will now need to opt out on the Self Assessment return.
Devolved taxes
Devolved taxes
- Hub page
- 27 Apr 2018
Support and guidance on taxation under the devolved governments of the UK; Northern Ireland, Scotland and Wales.
Bloomsbury Accounting and Tax Service - eBooks on devolved taxes
- Listing
- 21 Apr 2021
Browse Bloomsbury Accounting and Tax Service eBooks on devolved taxes.
Customs duties
HMRC increases interest rates for tax paid late
- Article
- 31 Mar 2025
As first announced at the Autumn Budget 2024, the interest rate charged by HMRC for late payments of most taxes and duties will increase from 7% to 8.5% from 6 April 2025.
Tax news in brief 19 February 2025
- Article
- 18 Feb 2025
Highlights from the broader tax news for the week ending 19 February 2025, including: an update from HMRC on the progress of some R&D tax relief enquiries; and updated HMRC guidance on employment status.
Tax news in brief 4 February 2025
- Article
- 04 Feb 2025
Highlights from the broader tax news for the week ending 4 February 2025, including: an increase in the statutory payments recovery rate for smaller businesses; and ICAEW’s response to a consultation of expanding tax conditionality.
Charities
Budget 2024 – what’s in it for charities?
- Article
- 08 Mar 2024
Facing continued economic challenges, an election on the near horizon and conflict in the Middle East and Ukraine, this was always going to be a challenging budget for the Chancellor. That did not stop the Chancellor from trying to pull some vote-winning rabbits out of the hat – although there was unfortunately little to benefit charities.
Charity tax reforms should not overly burden charities, cautions ICAEW
- Article
- 25 Jul 2023
While ICAEW’s Tax Faculty supports HMRC’s efforts to counter the abuse of charity tax rules, any reforms should be proportionate to the issue. Otherwise, the reforms risk deterring volunteer involvement and vital donations to charities.
Myth: Charities don’t have to pay taxes so need less money
- Report
- 14 Jul 2023
Charities are not automatically exempt from tax. Confusion arises because registered charities qualify for some tax exemptions, which leads to a mistaken belief that charities do not pay tax.
HMRC publishes new Charities newsletter
- Article
- 12 Jun 2023
HMRC’s Charities newsletter will be published periodically to update charities and their advisers on upcoming changes relating to tax that may affect them.
Construction industry scheme
April 2025
- Article
- 15 Apr 2025
Topic include: The Spring Statement, the Reserved Investor Fund, business rates, SDLT and the Construction Industry Scheme.
Exclusive
Pitfalls of the Construction Industry Scheme
- Article
- 09 Apr 2025
Howard Royse looks into the archives and shares some cautionary advice around the application of the Construction Industry Scheme (CIS).
Changes made to CIS processes for overseas businesses
- Article
- 06 Feb 2025
HMRC has updated its procedures to address challenges identified by ICAEW’s members in registering overseas businesses for the construction industry scheme (CIS).
Exclusive
The Construction Industry Scheme
- eBook chapter
- 01 Feb 2025
Practical guidance on how the Construction Industry Scheme (CIS) applies to businesses within the UK tax regime.
International taxes
Expert commentary and practical guidance from ICAEW related to international taxation regimes. You may also be interested in searching our tax guides by country.
BEPS
- Hub page
- 30 Jan 2018
Expert commentary and practical guidance from ICAEW related to base erosion and profit shifting, commonly known as BEPS, within international taxation.
Mandatory disclosure rules and DAC 6
- Hub page
- 03 Jul 2020
Practical guidance and support on tax disclosure around the world, including the UK's Mandatory Disclosure Rules and DAC 6.
Double tax agreements
- Hub page
- 30 Jan 2018
Expert commentary and practical guidance from ICAEW on issues related to double taxation and the use of tax treaties in international taxation
FATCA and CRS
- Hub page
- 10 May 2018
Guidance and information on the Foreign Account Tax Compliance Act (FATCA) and the Common Standard on Reporting and Due Diligence for Financial Account Information (CRS).
Transfer pricing
- Hub page
- 30 Jan 2018
Expert commentary and practical guidance from ICAEW related to transfer pricing in international taxation.
Residence and domicile
- Hub page
- 30 Jan 2018
Expert commentary and practical guidance from ICAEW related to residence and domicile in the UK personal tax regime, including offshore investments.
Sector specific and situation specific taxes
Certain industries have their own tax arrangements, while major events, such as the coronavirus pandemic, can also give rise to their own solutions.
Charities and taxation
Expert commentary and practical guidance from ICAEW related to the taxation of charitable organisations within the UK.
View allConstruction Industry Scheme
Expert commentary and practical guidance from ICAEW on the construction industry scheme (CIS) and how it applies for businesses within the UK tax regime.
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