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
Transfer pricing rules to be reformed
- Article
- 12 May 2025
The government has said it intends to make various changes to the UK’s international tax rules, which includes narrowing the scope of the UK-UK transfer pricing rules and replacing the diverted profits tax.
Exclusive
Why non-resident landlords may pay more corporation tax
- Article
- 01 May 2025
Andy Tall explores the principle of ‘non-discrimination’ and explains why most non-resident companies with UK property income cannot rely on it to pay corporation tax at a rate lower than 25%.
Technical round-up: April 2025
- Article
- 30 Apr 2025
This month’s top stories feature new sanctions for tax advisers; a warning for couples with furnished holiday lets; and a dip in HMRC performance.
Government announces raft of tax simplification measures
- Article
- 29 Apr 2025
ICAEW’s Tax Faculty provides a summary of the key measures announced by the government on 28 April 2025 as part of a tax administration and simplification update, including a welcome delay to plans for mandatory payrolling of benefits in kind (BIK).
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
How to grow: mitigating rising employment costs
- Article
- 14 May 2025
Recent rises in employers’ National Insurance contributions and the national minimum wage have left businesses with very little room to pursue growth and innovation plans.
Upcoming July deadline for employment related securities returns
- Article
- 12 May 2025
ICAEW reminds employers of the 6 July deadline for submitting employment related securities returns and explains the new process for making a joint election to transfer an employer’s national insurance contributions (NIC) liability to an employee.
ICAEW welcomes delay to mandatory payrolling of benefits
- Article
- 06 May 2025
The government’s announcement that the introduction of mandatory payrolling of benefits in kind (BIK) has been delayed from 6 April 2026 to 6 April 2027 follows comprehensive feedback from ICAEW and other stakeholders.
National Insurance
How to grow: mitigating rising employment costs
- Article
- 14 May 2025
Recent rises in employers’ National Insurance contributions and the national minimum wage have left businesses with very little room to pursue growth and innovation plans.
Upcoming July deadline for employment related securities returns
- Article
- 12 May 2025
ICAEW reminds employers of the 6 July deadline for submitting employment related securities returns and explains the new process for making a joint election to transfer an employer’s national insurance contributions (NIC) liability to an employee.
Tax news in brief 9 April 2025
- Article
- 09 Apr 2025
Highlights from the broader tax news for the week ending 9 April 2025, including: an update on legislation to enact changes announced at the Autumn Statement 2024; and new guidance for agents on Making Tax Digital (MTD) for income tax.
VAT
Exclusive
Balloon payment or supply of goods?
- Helpsheets and support
- 06 May 2025
FAQ about a client who is about to enter into a PCP agreement to buy an asset where the VAT is fully recoverable. There is an optional balloon payment, which has a 3-year initial period, but there is a question as to whether this purchase should be considered an outright sale from the outset.
VAT and alternative providers of higher education
- Helpsheets and support
- 01 May 2025
St Patrick’s International College Limited and two other institutions providing higher education argued that their supplies of education services should be VAT exempt under the direct effect of the EU Principal...
VAT: Application of TOMS to ride-hailing services
- Helpsheets and support
- 01 May 2025
The Upper Tribunal (UT) has agreed with Bolt Services UK Limited (Bolt) that Bolt should account for VAT under the tour operators’ margin scheme (TOMS) on the supply to passengers of private hire vehicle ride-hailing....
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
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.
Capital allowances, 2025-26
- Library book
- 25 Apr 2025
An in-depth guide to the UK system of capital allowances, aimed at accountants and tax specialists. The book provides tips on how to avoid costly errors and maximise tax relief. Topics covered include plant and machinery allowances, allowances for capital expenditure on R&D, and the structures and buildings allowance.
Ten tax changes taking effect from April 2025
- Article
- 28 Feb 2025
ICAEW’s Tax Faculty picks out 10 important changes applying from 1 April 2025 for companies and 6 April 2025 for individuals and unincorporated businesses.
Environmental taxes
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.
Exclusive
Carbon Border Adjustment Mechanism (CBAM) and EU Deforestation Regulation (EUDR): it’s time to act
- Webinar
- 11 Feb 2025
Learn how CBAM and EUDR will work and affect UK businesses, and what steps your business ought to take to avoid being caught out by the transitional arrangements and key dates.
Partnership taxation
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.
Taxation of partnerships and private capital structures, 2nd ed.
- Library book
- 30 Sep 2024
An in-depth guide to the technical and practical UK tax issues around trading and professional partnerships and LLPs, as well as investment fund partnerships and related structures. Also covered are the associated special regimes, such as those for disguised investment management fees, carried interest and income-based carried interest.
Self-employed and tax
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.
Exclusive
New rules on cash basis for income tax
- Helpsheets and support
- 05 Mar 2025
FAQ about whether a loss in 23-24 tax year, can be set against other income of that year, and how new rules in the 2025/26 tax year will affect cash basis.
MTD quiz: what do you know?
- Article
- 28 Feb 2025
Making Tax Digital for income tax is on its way, but how much do you really know? Test your knowledge with our quiz.
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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