ICAEW’s Tax Faculty highlights the key tax articles, events and guidance available on icaew.com.

The best of ‘tax news’ 

The stories attracting the greatest number of views for 2023 speak volumes about the post-pandemic environment, the cost-of living crisis, and the challenges of navigating the tax system – particularly the support required when moving towards a digital system.  

The top five were:

  1. Working from home tax relief claims may still be possible for 2022/23
    ICAEW’s Tax Faculty highlighted that employees should check whether they are eligible to make a claim.
  2. Check your national insurance record before 5 April 2023
    ICAEW urged those planning to claim the UK state pension to check their national insurance (NI) record before 5 April 2023. Voluntary contributions can be made to plug gaps back to April 2006, but this was originally planned to be curtailed from April. The Tax Faculty created a checklist of actions.
  3. P11Ds and P11D(b)s must be submitted only online from 6 April 2023
    Employers (except for the digitally excluded) will be required to submit and amend forms P11D and P11D(b) online only. Paper original and amendment forms P11D and P11D(b) will be rejected.
  4. Self assessment criteria are changing
    A further change to the criteria for filing a self assessment tax return was announced in the Autumn Statement 2023. More changes are expected as new digital services are rolled out or improved.
  5. When are HMRC staff on strike?
    Members of the Public and Commercial Services (PCS) Union working in East Kilbride and Newcastle on employer PAYE were asked to strike from 10 May 2023, and returned on 5 June 2023.

Other key tax resources

In addition to tax news, other popular pages highlight key resources available from ICAEW’s Tax Faculty. 

HMRC contact information
This guide provides a list of regularly used HMRC contact information. It includes telephone numbers and postal addresses, together with a number of tips. The guide seeks to help direct tax agents to the appropriate point of contact within HMRC.

TAXguide 15/20: Capital gains tax UK property disposal reporting
ICAEW’s Tax Faculty provides guidance on the digital service for reporting disposals to HMRC.

Tax Faculty
Find out more about the Tax Faculty and upcoming events.

TAXline
ICAEW’s Tax Faculty launched its brand-new digital TAXline offering in 2023. Each month, faculty members receive the latest TAXline bulletin directly to their inbox.

Professional conduct in relation to taxation (PCRT)
Compliance with PCRT is mandatory for members advising on UK tax matters.

Webinars and recordings
Webinars, videos and other recordings produced by the Tax Faculty to provide practical guidance to practitioners on important developments to tax practice and policy.

Don’t miss out

If you’re not already a Tax Faculty member, it is easy to join. ICAEW members can select the Tax Faculty when renewing their ICAEW Membership for 2024. Non-ICAEW members can join online. Find out more.  

ICAEW’s Tax Faculty is recognised internationally as a leading authority and source of expertise on taxation. The faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *