House of Lords reports on Finance Bill measures

House of Lords agrees with the Tax Faculty recommendation that the start date for merged scheme for R&D tax relief should be delayed. If this article is supporting your professional development, it can count towards your verifiable CPD hours. Use the pop up at the bottom right corner of your screen to add reading this […]

ICAEW briefs MPs on key clauses ahead of Finance Bill debates

MPs are scheduled to start debating Finance Bill 2023-24 on 10 January. ICAEW has produced briefings on R&D, pensions, provision of additional data and promoters of tax avoidance. ICAEW’s Tax Faculty has prepared briefings for MPs on Finance Bill 2023-24 clauses covering:  the new R&D regime (cl2 and Sch 1 – see ICAEW REP 03/24);  […]

Autumn Finance Bill and NIC Bill

ICAEW’s Tax Faculty highlights the key measures included in the Autumn Finance Bill and the NIC Bill. Following the Autumn Statement 2023, the government has published two bills.   The Finance Bill 2023-24 (also known as the Autumn Finance Bill) was published on 29 November. The bill reflects changes made as a result of the consultations that […]

ICAEW responds to draft Finance Bill 2023-24 provisions

The Tax Faculty provided input on measures relating to the proposed merged R&D tax credit scheme, tougher measures for promoters of tax avoidance, changes to data HMRC collects from customers and abolishing the pensions lifetime allowance. A consultation on draft clauses for inclusion in Finance Bill 2023-24 was launched on 18 July. ICAEW’s Tax Faculty […]

Business rates modernisation bill introduced to Parliament

ICAEW’s Tax Faculty summarises the key changes contained in the bill. The Non-Domestic Rating Bill was introduced to the House of Commons on 29 March 2023. It gives effect to conclusions reached in the Business Rates Review completed in 2022.  The key measures in the bill include:  Shortening the business rates revaluation cycle  The business […]

Key measures in Spring Finance Bill 2023

The Finance (No. 2) Bill 2022/23 includes Spring Budget announcements such as the full expensing first-year capital allowance, abolition of the pension lifetime allowance charge and investment zones. While the government has already consulted on several of the clauses in Finance (No.2) Bill 2022-23, in draft legislation released on 20 July 2022, many of the […]

5 ways to save money on your self-assessment tax bill

Confusion about which expenses you can claim, and a lack of knowledge of tax rules means those who pay tax by self-assessment may be paying more than they need to. In November 2022, we surveyed 881 people who are personally submitting a tax return this year and found that six in 10 don’t know that […]