Simple assessment and real-time reporting for capital gains tax (CGT) are two ways for HMRC and taxpayers to sidestep self assessment for income and gains.

HMRC sent out a record number of simple assessments for 2023/24. We explain what they are and explore some of the problem areas. We also explain how the often overlooked real-time reporting for CGT works and look at current issues with CGT reporting more generally.

Links

• TAXguide 09/18: simple assessment - https://www.icaew.com/technical/tax/tax-faculty/taxguides/2018/taxguide-0918-simple-assessment 
• Simple Assessment guide for pensioners - https://www.gov.uk/government/publications/pensioners-and-tax-communications-materials/simple-assessment-guide-for-pensioners 
• Agent Update: issue 131 - https://www.gov.uk/government/publications/agent-update-issue-131/issue-131-of-agent-update#simple 
• Consider using the real-time CGT service to report gains - https://www.icaew.com/insights/tax-news/2024/apr-2024/consider-using-the-real-time-cgt-service-to-report-gains 
• TAXguide 15/20: Capital gains tax UK property disposal reporting - https://www.icaew.com/technical/tax/tax-faculty/taxguides/2020/taxguide-1520-capital-gains-tax-uk-property-disposal-reporting 

Panellists

• Stephen Relf, Technical Manager, Tax, ICAEW
• Caroline Miskin, Senior Technical Manager, Digital Tax, ICAEW 
• Katherine Ford, Technical Manager, Personal Taxes, ICAEW

Producer

Ed Adams

Episode first published: 2 July 2025
Podcast recorded: 24 June 2025

On 6 April 2025, the longstanding rules for UK-resident, non-UK domiciled individuals – non-doms – were abolished and replaced with a new regime for foreign income and gains (FIG) that is based on residence. 

The abolition of domicile as a concept is one of the biggest changes in taxation for many years. In this episode of The Tax Track, we’ll get behind the headlines and consider the pros and cons of the new rules.

Links

• Economy explainers: what is the non-dom regime? (valid up to 5/4/25) https://www.icaew.com/insights/tax-news/2024/sep-2024/non-dom-regime-explained
• Residence and FIG Regime Manual https://www.gov.uk/hmrc-internal-manuals/residence-and-fig-regime-manual 

Panellists

• Stephen Relf, Technical Manager, Tax, ICAEW
• Katherine Ford, Technical Manager, Tax, ICAEW
• Adelle Greenwood, Technical Manager, Tax, ICAEW

Producer 

Ed Adams

Episode first published: 30 May 2025

Podcast recorded: 19 May 2025

What do marshmallows and hair transplants have in common? Yes, they’ve both been subject to recent court cases regarding VAT treatment. And yes, this episode of The Tax Track is all about VAT.

As well as examining issues with VAT borderlines, we talk about the prospects for reform, look forward to the Institute’s forthcoming VAT conference and discuss the pros and cons of e-invoicing.

Links

• How to fix VAT
  https://www.icaew.com/technical/tax/vat/how-to-fix-vat 
• Progressive VAT: is now the time? 
  https://www.icaew.com/insights/tax-news/2024/oct-2024/progressive-vat-is-now-the-time
• E-invoicing to be mandatory for EU VAT by 2030
  https://www.icaew.com/insights/tax-news/2024/nov-2024/e-invoicing-to-be-mandatory-for-eu-vat-by-2030
• How to fix VAT Conference
  ttps://www.icaew.com/learning-and-development/events/vat-conference

Panellists

• Stephen Relf, Technical Manager, Tax, ICAEW
• Ed Saltmarsh, Technical Manager, VAT and Customs, ICAEW
• Stephen Dale, Chair, ICAEW VAT and Duties Committee

Producer 

Ed Adams

Episode first published: 30 April 2025
Podcast recorded: 22 April 2025

Ownership of cryptoassets may be on the rise, but many myths persist when it comes to how they taxed. This episode looks at how accountants can help clients to meet their tax obligations.

We look at the tax treatment of cryptoassets and discuss what HMRC is doing to improve compliance and raise awareness, from adding a new box in the tax return to implementing the cryptoasset reporting framework.

Links

• The basics of taxing cryptoassets
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/the-basics-of-taxing-cryptoassets 
• VAT on cryptoassets
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/vat-on-cryptoassets
• Cryptoassets: international tax issues
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/cryptoassets-international-tax-issues
• What’s CARF got to do with it?
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2025/whats-carf-got-to-do-with-it 
• TAXguide 01/2024: Taxation of cryptoassets for individuals
  https://www.icaew.com/technical/tax/tax-faculty/taxguides/2024/taxguide-01-24   
• TAXguide 01/2024: Taxation of cryptoassets for businesses
  https://www.icaew.com/technical/tax/tax-faculty/taxguides/2024/taxguide-02-24 

Panellists

• Stephen Relf, Technical Manager, Tax, ICAEW
• Richard Jones, Senior Technical Manager, Business Taxation, ICAEW
• Dion Seymour, Crypto and Digital Asset Technical Director, Andersen 

Producer 

Ed Adams

Episode first published: 1 April 2025
Podcast recorded: 24 March 2025

Maintaining high professional standards is essential, both for individual accountants and for the profession as a whole. This episode of The Tax Track looks at the importance of protecting your professional reputation and, importantly, what members can do to ensure they get things right in the first place.

Tax is complicated – and constantly changing – so CPD is important, as well as being an integral part of your ICAEW membership. Meanwhile, Professional Conduct in Relation to Taxation (PCRT), prepared jointly by seven professional bodies and associations (including ICAEW) and endorsed by HMRC, sets out the fundamental principles and standards for tax planning that all members, affiliates and students who practise in tax must follow.

Links

• What is Professional Conduct in Relation to Taxation? https://www.icaew.com/insights/tax-news/2025/feb-2025/what-is-professional-conduct-in-relation-to-taxation
• Professional Conduct in Relation to Taxation: a tax perspective on ethics https://www.icaew.com/regulation/regulatory-news/regulatory-news-nov-2024/professional-conduct-in-relation-to-taxation
• ICAEW Regulatory and Conduct Annual Report https://www.icaew.com/regulation/icaew-regulatory-and-conduct-annual-report

Panelists

• Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
• Sophie Wales, Director of Regulatory Policy, ICAEW
• Katherine Ford, Technical Manager, Business Taxation, ICAEW

Producer

Ed Adams

Episode first published: 11 February 2025
Podcast recorded: 25 February 2025

In recent years we’ve seen changes to the rules, to processes and to HMRC’s approach to policing claims for research and development (R&D) tax relief. In this episode we map out the current landscape to help you navigate your way through it.

In an attempt to clamp down on fraud, more R&D claims are being checked, but is this deterring genuine claims? We also look at a new HMRC facility to disclose errors made in claims – who can disclose, how to disclose and the points to consider in determining whether or not a claim is correct.

Links

• Follow the numbers: R&D tax relief
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2025/follow-the-numbers-r-and-d-tax-relief
• What is R&D for tax purposes?
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/what-is-r-and-d-for-tax-purposes
• Disclosing errors in claims for research and development tax relief
  https://www.icaew.com/insights/tax-news/2025/jan-2025/disclosing-errors-in-claims-for-research-and-development-tax-relief 
• R&D: what changes apply and from when?
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/r-and-d-what-changes-apply-and-from-when 
• MPs briefed on HMRC’s R&D compliance approach
  https://www.icaew.com/insights/tax-news/2024/sep-2024/mps-briefed-on-hmrcs-r-and-d-compliance-approach
• Software project qualified for R&D tax relief
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/software-project-qualified-for-r-and-d-tax-relief 

Panelists

• Stephen Relf, Technical Manager, Tax, ICAEW
• Richard Jones, Senior Technical Manager, Business Taxation, ICAEW
• Angela Clegg, Technical Manager, Business Taxation, ICAEW

Producer

Ed Adams

Episode first published: 5 February 2025
Podcast recorded: 28 January 2025

Two significant changes will take place from April 2026: Making Tax Digital for Income Tax (MTD IT) and mandatory payrolling of benefits in kind. 

While April 2026 is over a year away, these changes will require a lot of planning including how workflows and information flows will need to change. MTD IT will require many individuals to keep digital records and send quarterly updates to HMRC, while mandatory payrolling of benefits in kind will see the end of the form P11D process for many employers. In this episode we look at what taxpayers and their agents can do in the coming months to prepare.

Links

• Government and developers commit to MTD ITSA from 2026
  https://www.icaew.com/insights/tax-news/2024/nov-2024/government-and-developers-commit-to-mtd-itsa-from-2026
• MTD: what you should do now
  https://www.icaew.com/insights/podcast/the-tax-track/mtd-what-you-should-do-now 
• Making Tax Digital
  https://www.icaew.com/technical/tax/making-tax-digital
• Pros and cons of payrolling benefits
  https://www.icaew.com/insights/podcast/the-tax-track/pros-and-cons-of-payrolling-benefits 
• How to prepare for mandatory payrolling of benefits in kind
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/how-to-prepare-for-mandatory-payrolling-of-benefits-in-kind
• Payrolling Benefits and Expenses webinar
  https://events.icaew.com/pd/29313/payrolling-benefits-and-expenses
• What is Making Tax Digital for income tax?
  https://www.icaew.com/insights/tax-news/2025/jan-2025/what-is-making-tax-digital-for-income-tax

Panellists

• Stephen Relf, Technical Manager, Tax, ICAEW
• Caroline Miskin, Senior Technical Manager, Digital Taxation, ICAEW
• Adelle Greenwood, Technical Manager, Employment Taxes and National Insurance Contributions, ICAEW

Producer 

Ed Adams

Episode first published: 7 January 2025
Podcast recorded: 17 December 2024

Bookended by a Conservative Budget in the spring and a Labour Budget in the autumn, 2024 was a busy year in politics and in tax. In this episode of The Tax Track, we reflect on key measures from the recent Budget and consider areas that kept us busy during 2024 and will do again in 2025, including regulation of tax agents and HMRC service levels.

Links

• Autumn Budget 2024
  https://www.icaew.com/technical/economy/autumn-budget-2024
• Tax regulation: change must be in the public interest
  https://www.icaew.com/insights/tax-news/2024/may-2024/tax-regulation-change-must-be-in-the-public-interest 
• MTD income tax self assessment
  https://www.icaew.com/technical/tax/making-tax-digital/mtd-guidance/mtd-and-income-tax
• HMRC on hold
  https://www.icaew.com/insights/podcast/the-tax-track/hmrc-on-hold

Panellists

• Stephen Relf, Technical Manager, Tax, ICAEW
• Lindsey Wicks, Senior Technical Manager for Tax Policy, ICAEW
• Frank Haskew, Head of Taxation Strategy, ICAEW

Producer 

Ed Adams

Episode first published: 2 December 2024
Podcast recorded: 19 November 2024

In this episode we’ll be talking about the problems with VAT and why ICAEW is launching a new campaign, How to Fix VAT.

Introduced in the UK some 50 years ago, VAT is now the UK’s third largest source of tax revenue, behind income tax and national insurance contributions. But, it can be costly and complicated to comply with, and that’s despite previous efforts at simplification.

Links

• The complicated and costly world of VAT
  https://www.icaew.com/insights/tax-news/2024/oct-2024/the-complicated-and-costly-world-of-vat 
• The ups and downs of the VAT registration threshold
  https://www.icaew.com/insights/tax-news/2024/sep-2024/the-ups-and-downs-of-the-vat-registration-threshold 
• Progressive VAT: is now the time?
  https://www.icaew.com/insights/tax-news/2024/oct-2024/progressive-vat-is-now-the-time

Panellists

• Stephen Relf, Technical Manager, Tax, ICAEW
• Ed Saltmarsh, Technical Manager, VAT and customs, ICAEW
• Ruth Corkin, Principal, VAT and Indirect Tax Advisory, Hillier Hopkins

Producer

Ed Adams

Episode first published: 29 October 2024
Podcast recorded: 22 October 2024

The abolition of the furnished holiday lettings (FHL) rules from April 2025 was announced in the Spring Budget. Following the general election, the Labour government confirmed that it would proceed with the measure, and provided more details in the form of draft legislation, an explanatory note and a policy paper. While some of the detail may change as the legislation is finalised, there will be tax implications for those affected – we discuss the potential issues.

Links

• Why furnished holiday let owners are facing higher tax bills
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/why-furnished-holiday-let-owners-are-facing-higher-tax-bills
• ICAEW calls again for FHL brightline test
  https://www.icaew.com/insights/tax-news/2024/sep-2024/icaew-calls-again-for-fhl-brightline-test
• HMRC rejects ‘brightline’ test for furnished holiday lets (FHLs)
  https://www.icaew.com/insights/tax-news/2024/may-2024/hmrc-rejects-brightline-test-for-furnished-holiday-lets-fhls

Panellists

• Stephen Relf, Technical Manager, Tax, ICAEW
• Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
• Katherine Ford, Technical Manager, Tax, ICAEW

Producer

Ed Adams

Episode first published: 2 October 2024
Podcast recorded: 24 September 2024