In this episode of The Tax Track, we discuss HMRC’s plans to mandate the payrolling of benefits in kind, and look at the implications of a recent tax case.

With the payrolling of all benefits in kind set to be mandatory from 2025/26, we examine whether this really is the simplification it’s meant to be, and what employers and agents can do now to smooth the way. Plus, a recent tax tribunal case highlighted the importance of documentation and how it can severely impact the amount of tax due.

Lindsey Wicks, Senior Technical Manager for Tax Policy at ICAEW, discusses the issues with Stephen Relf, Technical Manager, Tax, and Peter Bickley, Technical Manager, Tax.

Links

• Is it time for employers to start payrolling benefits and expenses? https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2023/is-it-time-for-employers-to-start-payrolling-benefits-and-expenses 
• Payrolling Benefits and Expenses webinar, 16 October 2024 https://events.icaew.com/pd/29313/payrolling-benefits-and-expenses
• Working out the date of disposal isn’t always child’s play
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/working-out-the-date-of-disposal-isnt-always-childs-play 

Panel

• Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
• Stephen Relf, Technical Manager, Tax, ICAEW
• Peter Bickley, Technical Manager, Tax, ICAEW

Producer
Ed Adams

Episode first published: 30 May 2024
Recording date: 20 May 2024

What is an associated company and how can this affect business taxation? This episode of The Tax Track looks at how to spot an associated company and apply the rules, particularly in relation to corporation tax.

‘Associated’ has a broad definition in tax terms, which can give rise to surprising results when it comes to family relationships and other businesses. As well as talking about how this affects the rate of corporation tax, and when corporation tax is payable, we also look at the impacts for other areas of business tax, including national insurance contributions, annual investment allowance and VAT disaggregation.

Lindsey Wicks, Senior Technical Manager for Tax Policy at ICAEW, discusses the issues with Stephen Relf, Technical Manager, Tax, and Angela Clegg, Technical Manager, Business Tax.

Links

• Don’t forget associated companies, warns ICAEW Tax Faculty
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/dont-forget-associated-companies-warns-icaew-tax-faculty
• TAXguide 02/23: Associated companies
  https://www.icaew.com/technical/tax/tax-faculty/taxguides/2023/taxguide-02-23 
• Corporation Tax: small profits relief
  https://www.gov.uk/hmrc-internal-manuals/company-taxation-manual/ctm03785 

Panel

• Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
• Stephen Relf, Technical Manager, Tax, ICAEW
• Angela Clegg, Technical Manager, Business Tax, ICAEW

Producer

Ed Adams

Episode first published: 29 April 2024
Recording date: 22 April 2024

The Tax Track is the podcast series from ICAEW that explores the latest developments in the world of tax, and what they mean for members and tax professionals alike. 

In this episode, we look at the implications behind the new tax measures introduced in the Spring Budget and delve into the new research and development tax reliefs that are coming into effect this month.

This month Lindsey Wicks, Senior Technical Manager for Tax Policy at ICAEW, is joined by colleagues Stephen Relf, Technical Manager, Tax, and Richard Jones, Senior Technical Manager, Tax Policy.

Links

• Tax changes taking effect from April 2024
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/tax-changes-taking-effect-from-april-2024  
• Budget 2024: Does it change anything?
  https://www.icaew.com/insights/podcast/in-focus/budget-2024-does-it-change-anything 
• R&D tax relief: what you need to know
  https://www.icaew.com/technical/economy/resilience-and-renewal/r-and-d-tax-relief-what-you-need-to-know 
• 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 

Panel

• Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
• Stephen Relf, Technical Manager, Tax, ICAEW
• Richard Jones, Senior Technical Manager, Tax Policy, ICAEW

Producer 

Ed Adams

Episode first published: 4 April 2024
Recording date: 25 March 2024

Why would a food producer argue that its product is not ready for human consumption? And why does the tax year start on 6 April? Find out the answers in the latest episode of The Tax Track podcast from ICAEW. 

As the start of the new tax year approaches, we look at what’s changing – and what’s not – in personal and business taxation in the coming year. We also journey back in time to find out why the tax year starts when it does. 

When it comes to VAT rates, it seems some companies will put forward the most spurious of arguments to have a product zero rated. We take a look at recent case involving Walkers Sensations Poppadoms and whether or not they were more like a crisp than their namesake.

This month’s experts are Lindsey Wicks, Senior Technical Manager for Tax Policy at ICAEW; Stephen Relf, Technical Manager, Tax; and Ed Saltmarsh, Technical Manager, VAT and Customs.

Links

• Tax changes taking effect from April 2024:
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/tax-changes-taking-effect-from-april-2024
• Align tax year end with calendar to improve tax administration, say practitioners:
  https://www.icaew.com/insights/tax-news/2021/jul-2021/align-tax-year-end-with-calendar-to-improve-tax-administration-say-practitioners
• Lessons from Ireland on changing the tax year:
  https://www.icaew.com/insights/tax-news/2021/april-2021/lessons-from-ireland-on-changing-the-tax-year
• OTS provides valuable insights on changing the tax year:
  https://www.icaew.com/insights/tax-news/2021/sep-2021/ots-provides-valuable-insights-on-changing-the-tax-year 
• A lightning bolt for the VAT Tour Operators Margin Scheme:
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/a-lightning-bolt-for-the-vat-tour-operators-margin-scheme
• VAT: the Christmas chocolate conundrum:
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2023/vat-the-christmas-chocolate-conundrum
• Is it time to make VAT simple?:
  https://www.icaew.com/technical/tax/tax-faculty/taxline/archive/taxline-2022/april-2022/is-it-time-to-make-vat-simple
• ICAEW launches manifesto: New government must act on economy:
  https://www.icaew.com/insights/viewpoints-on-the-news/2024/feb-2024/next-government-must-act-to-renew-uk-economy-says-icaew

Panellists

• Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
• Stephen Relf, Technical Manager, Tax, ICAEW
• Ed Saltmarsh, Technical Manager, VAT and Customs, ICAEW

Producer
Ed Adams 

Episode first published: 29 February 2024 
Podcast recorded: 21 February 2024

The Tax Track is the new podcast series from ICAEW where we explore the latest from the tax world, and what it means for tax professionals, accountants, taxpayers and businesses. 

In this episode, we take a look at the wider implications of an unusual capital allowance case regarding camping pods that went to tribunal. You often hear the phrase, “it’s what’s on the inside that counts”. That certainly proved to be true in this case. We also discuss the changes that are being introduced to the cash basis this April and the potential implications for businesses of all sizes.

This month’s panellists are ICAEW’s Lindsey Wicks, Senior Technical Manager, Tax Policy; Stephen Relf, Technical Manager, Tax; and Richard Jones, Senior Technical Manager, Tax Policy.

Links

• Camping pods and capital allowances:
  https://www.icaew.com/technical/tax/tax-faculty/taxline/2024/articles/camping-pods-and-capital-allowances
• Changes to the cash basis for traders:
  https://www.icaew.com/technical/tax/tax-faculty/taxline/2024/articles/changes-to-the-cash-basis-for-traders
• Capital allowances webinar:
  https://www.icaew.com/technical/tax/tax-faculty/webinars-and-recordings/tax-webinars/2023/capital-allowances
• Chancellor confirms full expensing will be permanent:
  https://www.icaew.com/insights/tax-news/2023/nov-2023/chancellor-confirms-full-expensing-will-be-permanent 
• Expansion of cash basis for unincorporated businesses:
  https://www.icaew.com/insights/tax-news/2023/nov-2023/expansion-of-cash-basis-for-unincorporated-businesses 

Panellists

• Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
• Stephen Relf, Technical Manager, Tax, ICAEW
• Richard Jones, Senior Technical Manager, Tax Policy, ICAEW

Producer
Ed Adams

Episode first published: 1 February 2024
Podcast recorded: 24 January 2024

The Tax Track is the new podcast series from ICAEW where we explore the latest from the tax world and what it means for tax professionals, accountants, taxpayers and businesses. In this first episode, we look ahead to what’s coming down the line in 2024.

Lindsey Wicks, ICAEW’s Senior Technical Manager for Tax Policy, talks about the forthcoming UK general election – a case of when, not if – and its potential impacts in terms of policies, timings, and the number of fiscal events throughout the year. 

Caroline Miskin, Senior Technical Manager for Digital Taxation, talks about the thorny issue of HMRC service standards – what are the pressures on HMRC’s services and how can they be alleviated? 

Finally, Frank Haskew, Head of Taxation Strategy, looks at the issue of tax agents and why the government considers there is a need for greater regulation and oversight to help prevent bad practices.

Links

• What’s in store for 2024?
  https://www.icaew.com/technical/tax/tax-faculty/taxline/2024/articles/whats-in-store-for-2024
• ICAEW briefs MPs on key clauses ahead of Finance Bill debates:
  https://www.icaew.com/insights/tax-news/2024/jan-2024/icaew-briefs-mps-on-key-clauses-ahead-of-finance-bill-debates
• HMRC doubles down on redirecting callers to online services:
  https://www.icaew.com/insights/tax-news/2023/dec-2023/hmrc-doubles-down-on-redirecting-callers-to-online-services
• HMRC service performance remains poor:
  https://www.icaew.com/insights/tax-news/2023/nov-2023/hmrc-service-performance-remains-poor
• Regulation of the tax profession – is it the way forward?
  https://www.icaew.com/technical/tax/tax-faculty/taxline/archive/taxline/taxline-2022/september-2022/regulation-of-the-tax-profession-is-it-the-way-forward
• HMRC acts on tax repayment agents:
  https://www.icaew.com/insights/tax-news/2023/dec-2023/hmrc-acts-on-tax-repayment-agents
• TAXline – the latest content from ICAEW’s Tax Faculty:
  https://www.icaew.com/technical/tax/tax-faculty/taxline

Panellists

• Lindsey Wicks, Senior Technical Manager for Tax Policy, ICAEW
• Caroline Miskin, Senior Technical Manager for Digital Taxation, ICAEW
• Frank Haskew, Head of Taxation Strategy, ICAEW

Producer
Ed Adams

Episode first published: 11 January 2024
Podcast recorded: 5 January 2024