The Tax Track

By ICAEW

In this podcast series from the Institute of Chartered Accountants in England and Wales, experts from the Tax Faculty discuss the biggest tax stories of the month, with advice for professionals in

... more

Download on the App Store

Download on the App Store

Get it on Google Play

FAQs about The Tax Track:

How many episodes does The Tax Track have?

The podcast currently has 30 episodes available.

The Tax Track episodes:

August 01, 2025Challenging times for HMRC and agents
July was a busy month for HMRC as it published its annual accounts and report for 2024/25, along with its transformation roadmap and draft legislation for Finance Bill 2025/26.

In this episode of The Tax Track we look at the challenges HMRC faces, from improving its services to taxpayers and agents to closing the tax gap; its plans for new and improved digital services; and the possible implications of the proposed changes for agents in particular as MTD and agent registration begin to take effect.
Links
HMRC continues to miss performance targets https://www.icaew.com/insights/tax-news/2025/jul-2025/hmrc-continues-to-miss-performance-targets
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
HMRC promises new digital solutions for taxpayers and agents https://www.icaew.com/insights/tax-news/2025/jul-2025/hmrc-promises-new-digital-solutions-for-taxpayers-and-agents
Have your say on draft Finance Bill legislation https://www.icaew.com/insights/tax-news/2025/jul-2025/have-your-say-on-draft-finance-bill-legislation
ICAEW reiterates concerns about MTD threshold reduction
https://www.icaew.com/insights/tax-news/2025/jul-2025/icaew-reiterates-concerns-about-mtd-threshold-reduction
Panellists
Stephen Relf, Technical Manager, Tax, ICAEW
Frank Haskew, Head of Taxation Strategy, ICAEW
Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
Producer: Ed Adams
Episode recorded 24 July 2025
Episode published 1 August 2025
...more
29min
July 02, 2025Paying tax outside self assessment
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
...more
21min
May 30, 2025Goodbye non-doms, hello FIG
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
...more
22min
April 30, 2025VAT gets its day in court – again
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
...more
25min
April 01, 2025Taxing times: cryptoassets in the spotlight
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
...more
22min
February 25, 2025Why professional conduct matters
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
...more
20min
February 05, 2025R&D tax relief: where are we now?
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
...more
26min
January 07, 2025Time to prepare for MTD and BIK
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
...more
26min
December 02, 2024A year of two halves
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
...more
28min
October 29, 2024How to fix VAT
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
...more
34min

FAQs about The Tax Track:

How many episodes does The Tax Track have?

The podcast currently has 30 episodes available.

More shows like The Tax Track

More or Less by BBC Radio 4

More or Less

876 Listeners

Wake Up to Money by BBC Radio 5 Live

Wake Up to Money

52 Listeners

The Bottom Line by BBC Radio 4

The Bottom Line

43 Listeners

Politics Unpacked by Times Radio

Politics Unpacked

114 Listeners

Rugby Union Weekly by BBC Radio 5 Live

Rugby Union Weekly

322 Listeners

Newscast by BBC News

Newscast

684 Listeners

Inside Briefing with the Institute for Government by Institute for Government

Inside Briefing with the Institute for Government

21 Listeners

IFS Zooms In: The Economy by Institute for Fiscal Studies

IFS Zooms In: The Economy

7 Listeners

Accountancy Insights by ICAEW

Accountancy Insights

0 Listeners

The Rest Is Politics by Goalhanger

The Rest Is Politics

3,336 Listeners

The News Agents by Global

The News Agents

1,183 Listeners

The Rest Is Money by Goalhanger

The Rest Is Money

174 Listeners

The Rest Is Entertainment by Goalhanger

The Rest Is Entertainment

805 Listeners

Political Currency by Persephonica

Political Currency

139 Listeners

The Crisis Room by Global

The Crisis Room

14 Listeners