The Tax Track

In this episode, we consider the pain points for businesses in meeting their tax reporting obligations and we explore the causes and implications of tax complexity, including what the UK stands to gain from addressing it.  

 Links 

 ICAEW

• How to fix VAT | ICAEW - https://www.icaew.com/technical/tax/vat/how-to-fix-vat
• How to build a better tax system | ICAEW - https://www.icaew.com/technical/tax/tax-reform/how-to-build-a-better-tax-system
• Business tax compliance costs £15bn a year | ICAEW - https://www.icaew.com/insights/tax-news/2025/feb-2025/business-tax-compliance-costs-15bn-a-year

External

• Office of Tax Simplification - GOV.UK - https://www.gov.uk/government/organisations/office-of-tax-simplification
• Competitiveness review: final report https://assets.publishing.service.gov.uk/media/5a7d8aafe5274a676d532aca/competitiveness_review_final_report.pdf
• Brunel University Research Archive: Tax complexity: impact on UK competitiveness and growth - https://bura.brunel.ac.uk/handle/2438/33569

 Host

Stephen Relf, Tax Technical Manager, ICAEW

 Guests

• Professor Peter Jelfs, Brunel University of London
• Andy Richens, formerly of the Office of Tax Simplification

 Producer

Ed Adams

Series lead

Mark Rowland

Episode recorded: 29 July 2026

Episode published: 12 August 2026

All views expressed on this podcast are those of the contributors and don’t necessarily reflect those of ICAEW or its members.

Close companies and their directors are in HMRC’s sights as it attempts to close the small business tax gap. In this episode, we look at the challenges posed by new information requirements for directors completing their self assessment tax return for tax year 2025/26 and at the government’s proposals to impose additional reporting requirements on close companies.

Links 
ICAEW: New tax return requirements for directors cause uncertainty - https://www.icaew.com/insights/tax-news/2026/may-2026/new-tax-return-requirements-for-directors-cause-uncertainty

ICAEW: ICAEW warns against new requirements for close companies - https://www.icaew.com/insights/tax-news/2026/jun-2026/icaew-warns-against-new-requirements-for-close-companies

ICAEW: Tax gap widens to 6.4% of total tax liabilities - https://www.icaew.com/insights/tax-news/2026/jun-2026/tax-gap-widens-to-6-point-4-percent-of-total-tax-liabilities#:~:text=Percentage%20tax%20gap,6.4%25%20for%202024%2F25.

HMRC's company taxation manual - close companies - https://www.gov.uk/hmrc-internal-manuals/company-taxation-manual/ctm60050

Host
Stephen Relf, Tax Technical Manager, ICAEW

Guests
Angela Clegg, Tax Technical Manager – Business Taxes, ICAEW
Katherine Ford, Tax Technical Manager – Personal Taxes, ICAEW

Producer
Ed Adams

Episode recorded: 24 June 2026
Episode published: 8 July 2026

HMRC is stepping up its compliance activities when it comes to VAT. In this episode, we explain what businesses can do to prepare for a VAT enquiry and we explore how HMRC and the government could better support businesses in meeting their VAT obligations.

Links 
ICAEW: VAT compliance controls: new guidance from HMRC - https://www.icaew.com/insights/tax-news/2025/feb-2025/vat-compliance-controls-new-guidance-from-hmrc

ICAEW: Making sure a tax return is correct and complete - https://www.icaew.com/insights/podcast/the-tax-track/making-sure-a-tax-return-is-correct-and-complete

ICAEW: Budget: Changes made to VAT rules and processes (e-invoicing) - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-changes-made-to-vat-rules-and-processes#4

ICAEW: How to fix VAT - https://www.icaew.com/technical/tax/vat/how-to-fix-vat

Host
Stephen Relf, Tax Technical Manager, ICAEW

Guests
Rob Janering, VAT partner, Crowe UK LLP
Simon Atkins, Partner, RSM UK

Producer
Ed Adams

Episode recorded: 21 May 2026
Episode published: 10 June 2026

Finance Act 2026 introduces a package of measures designed to drive up standards in the tax advice market, including mandatory agent registration with HMRC. In this episode, we explain how the process will work and discuss the consequences for advisers of having their registration suspended.

Links 
ICAEW: HMRC’s agent registration guidance lacks key details -  https://www.icaew.com/insights/tax-news/2026/feb-2026/hmrcs-agent-registration-guidance-lacks-key-details

ICAEW: Government reassures agents on registration and sanctions - https://www.icaew.com/insights/tax-news/2026/feb-2026/government-reassures-agents-on-registration-and-sanctions

ICAEW: TAXguide 05/25: Finance Act 2026 - https://www.icaew.com/technical/tax/tax-faculty/taxguides/2025/taxguide-05-25

The HMRC standard for agents - GOV.UK - https://www.gov.uk/government/publications/hmrc-the-standard-for-agents/the-hmrc-standard-for-agents

Host
Stephen Relf, Tax Technical Manager, ICAEW

Guests
Lindsey Wicks, Senior Tax Technical Manager, ICAEW
Frank Haskew, Tax Director, ICAEW

Producer
Ed Adams

Episode recorded: 23 April 2026
Episode published: 13 May 2026

In recent months, the government has published guidance and announced policy changes that could significantly affect how tax returns are prepared and how HMRC enquiries are conducted. In this episode, we’ll explore the implications for taxpayers and agents, focusing on new HMRC guidelines for ensuring that a tax return is correct and complete and changes to the requirement to notify HMRC of an uncertain tax treatment. 

Links

ICAEW:
Taxpayers encouraged to ensure returns are correct and complete - https://www.icaew.com/insights/tax-news/2025/sep-2025/taxpayers-encouraged-to-ensure-returns-are-correct-and-complete

Individuals and trusts face new obligation under uncertain tax treatment proposals - https://www.icaew.com/insights/tax-news/2026/mar-2026/individuals-and-trusts-face-new-obligation-under-uncertain-tax-treatment-proposals

Inaccuracy and failure to notify penalties must be simplified - https://www.icaew.com/insights/tax-news/2025/jun-2025/inaccuracy-and-failure-to-notify-penalties-must-be-simplified

Suspension of penalties for a one-off tax error - https://www.icaew.com/insights/tax-news/2026/feb-2026/suspension-of-penalties-for-a-one-off-tax-error

Tax gap falls slightly as a percentage of tax liabilities - https://www.icaew.com/insights/tax-news/2025/jun-2025/tax-gap-falls-slightly-as-a-percentage-of-tax-liabilities

External: 

GOV.UK: Help ensuring documents filed with HMRC are correct and complete — GfC13 -  https://www.gov.uk/government/publications/help-ensuring-documents-filed-with-hmrc-are-correct-and-complete-gfc13

GOV.UK: Opportunities to Extend Uncertain Tax Treatment - https://www.gov.uk/government/consultations/consultation-extend-notification-of-uncertain-tax-treatment-utt-regime/opportunities-to-extend-uncertain-tax-treatment

Host: Stephen Relf, Technical Manager, Tax, ICAEW

 Guests: 

Richard Jones, Senior Technical Manager, Business Tax, ICAEW

Annis Lampard, Partner, Deloitte

Producer: Ed Adams

Episode recorded: 25 March 2026

Episode published: 7 April 2026 

In a special episode of The Tax Track, recorded at ICAEW’s MTD Live event on 23 February 2026, we speak to HMRC and practitioners on how they are preparing for Making Tax Digital (MTD) for income tax, which is due to start from April 2026.    

Links 

ICAEW: Making Tax Digital - https://www.icaew.com/technical/tax/making-tax-digital

ICAEW: TAXguide 01/25: MTD income tax - https://www.icaew.com/technical/tax/tax-faculty/taxguides/2025/taxguide-01-25

ICAEW: HMRC to send final batches of MTD mandation letters - https://www.icaew.com/insights/tax-news/2026/feb-2026/hmrc-to-send-final-batches-of-mtd-mandation-letters

ICAEW: MTD: How to prepare your clients - https://www.icaew.com/insights/tax-news/2026/jan-2026/mtd-how-to-prepare-your-clients

ICAEW: MTD: how to deal with digital refusers - https://www.icaew.com/insights/tax-news/2025/dec-2025/mtd-how-to-deal-with-digital-refusers

ICAEW: MTDtalk 2026 webinar series - https://www.icaew.com/technical/tax/tax-faculty/webinars-and-recordings/tax-webinars/2026/mtdtalk-2026

MTD for Income Tax: your 30-day readiness plan with Sage - https://events.icaew.com/pd/32831

MTD for Income Tax: compliance simplified with Zoho Books - https://events.icaew.com/pd/32838/mtd-for-income-tax-compliance-simplified-with

MTD for Income Tax: from onboarding to filing with Xero - https://events.icaew.com/pd/32819/mtd-for-income-tax-from-onboarding-to-filing

Get MTD done with FreeAgent - https://events.icaew.com/pd/32837/get-mtd-done-with-freeagent

Host

Stephen Relf, Technical Manager, Tax, ICAEW

Guests

• Craig Ogilvie, Director – MTD, HMRC
• Hannah Miller, Director, Chipperfield Accounting
• Nikhil Sangani, Chartered Accountant, Sage & Co
• Rebecca Benneyworth, sole practitioner and a board member of ICAEW’s Tax Faculty

Reporter

Mark Rowland

Producer

Ed Adams

Episode recorded 23 February 2026

Episode published 3 March 2026

The Finance Bill 2025-26 is set to be the longest Finance Act in almost ten years, impacting on almost all areas of tax and posing significant challenges for taxpayers and agents. In this episode, we look at the implications for individuals and businesses, from the reform of inheritance tax to changes to capital allowances.  

Links 

ICAEW: https://www.icaew.com/technical/tax/tax-faculty/taxguides/2025/taxguide-05-25

ICAEW: https://www.icaew.com/insights/tax-news/2025/dec-2025/government-makes-further-concessions-on-iht-reforms

ICAEW: https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-further-changes-made-to-cgt-iht-and-residence-rules

ICAEW: https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-taxes-on-property-savings-and-dividends-increased

ICAEW: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2026/budget-changes-to-capital-allowances

ICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/tax-changes-require-new-approach-to-corporate-reconstructions

ICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/have-your-say-on-business-rates-reform

ICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/scottish-budget-makes-changes-to-income-tax-thresholds

ICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/welsh-businesses-to-get-more-support-for-non-domestic-rates

ICAEW: https://www.icaew.com/insights/podcast/the-tax-track/budget-25-do-the-tax-changes-meet-the-tenets

Postscript

ICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/additional-business-rates-support-announced-for-pubs

ICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/extend-inheritance-tax-payment-deadline-to-12-months-says-lords

Host

Stephen Relf, Technical Manager, Tax, ICAEW

Guests
Richard Jones, Senior Technical Manager, Business Tax, ICAEW
Katherine Ford, Technical Manager, Personal Tax, ICAEW

Producer
Ed Adams

Episode recorded 26 January 2026
Episode published 3 February 2026

In this episode, we rate the Budget against ICAEW’s ten tenets for a better tax system, focusing on the government’s decision to freeze the personal allowance and tax thresholds for an additional three years, the new tax on electric vehicles and changes to the NIC treatment of salary sacrificed pension contributions. 

• Budget: Freeze on personal allowance extended - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-freeze-on-personal-allowance-extended
• Budget: New levies include charge on electric vehicles - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-new-levies-include-charge-on-electric-vehicles
• Budget: NIC saving on salary sacrifice pension contributions capped - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-nic-saving-on-salary-sacrifice-pension-contributions-capped
• Budget: Taxes on property, savings and dividends increased - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-taxes-on-property-savings-and-dividends-increased
• Budget: Changes made to VAT rules and processes - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-changes-made-to-vat-rules-and-processes
• Budget: Government will not regulate tax advisers - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-government-will-not-regulate-tax-advisers
• Tax Faculty Budget update 2025 - https://www.icaew.com/technical/tax/tax-faculty/webinars-and-recordings/tax-webinars/2025/28-11-2025-budget-update
• How to fix VAT - https://www.icaew.com/technical/tax/vat/how-to-fix-vat

Host
Stephen Relf, Technical Manager, Tax, ICAEW

Guests
Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
Ed Saltmarsh, Technical Manager, Tax, ICAEW

Producer
Ed Adams

Episode published 1 December 2025

Episode recorded 28 November 2025

From April 2026, an estimated 864,000 sole traders and landlords will need to comply with Making Tax Digital (MTD) for income tax. In this episode, we look at recent developments, including HMRC’s plans to contact taxpayers, and we draw on the experience of special guest Rebecca Benneyworth to explain what you can do to prepare for the challenges ahead.

• Making Tax Digital - https://www.icaew.com/technical/tax/making-tax-digital
• TAXguide 01/25: MTD income tax - https://www.icaew.com/technical/tax/tax-faculty/taxguides/2025/taxguide-01-25
• Digitally excluded can now apply for MTD exemption -  https://www.icaew.com/insights/tax-news/2025/sep-2025/digitally-excluded-can-now-apply-for-mtd-exemption
• How to avoid errors when signing up clients to MTD income tax - https://www.icaew.com/insights/tax-news/2025/oct-2025/how-to-avoid-errors-when-signing-up-clients-to-mtd-income-tax
• HMRC offers agents support with MTD for income tax - https://www.icaew.com/insights/tax-news/2025/aug-2025/hmrc-offers-agents-support-with-mtd-for-income-tax
• Up to 3 million individuals may need to comply with MTD - https://www.icaew.com/insights/tax-news/2025/aug-2025/up-to-3-million-individuals-may-need-to-comply-with-mtd
• How to keep HMRC agent account details safe - https://www.icaew.com/insights/tax-news/2025/sep-2025/how-to-keep-hmrc-agent-account-details-safe
• How to complete your tax return - https://www.icaew.com/technical/tax/personal-tax/how-to-complete-your-tax-return

Host

Stephen Relf, Technical Manager, Tax, ICAEW

Guests

Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW

Rebecca Benneyworth, sole practitioner and a board member of ICAEW’s Tax Faculty

Producer
Ed Adams

Episode published 31 October 2025
Episode recorded 24 October 2025

In this episode of The Tax Track, we look ahead to the 2024/25 tax return season, highlighting areas to watch out for, and explain our concerns with draft legislation for Finance Bill 2025/26 that promises to make significant changes to the tax system, particularly for agents.  

Links 

• ICAEW has major concerns about draft Finance Bill legislation - https://www.icaew.com/insights/tax-news/2025/sep-2025/icaew-has-major-concerns-about-draft-finance-bill-legislation
• Government’s plans for agents may harm the tax system - https://www.icaew.com/insights/tax-news/2025/sep-2025/governments-plans-for-agents-may-harm-the-tax-system
• Taxpayers encouraged to ensure returns are correct and complete -  https://www.icaew.com/insights/tax-news/2025/sep-2025/taxpayers-encouraged-to-ensure-returns-are-correct-and-complete
• In-year CGT rate changes cause tax return errors - https://www.icaew.com/insights/tax-news/2025/aug-2025/in-year-cgt-rate-changes-cause-tax-return-errors
• HMRC targets personal expenditure - https://www.icaew.com/insights/tax-news/2025/aug-2025/hmrc-targets-personal-expenditure
• Get ahead with 2024/25 tax returns - https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2025/get-ahead-with-2024-25-tax-returns

Host

Stephen Relf, Technical Manager, Tax, ICAEW

Guests

Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW

Katherine Ford, Tax Manager, ICAEW

Producer

Ed Adams

Episode recorded: 23 September 2025

Episode published: 1 October 2025