Basis period reform is an important issue at the moment, with 2023/24 a transitional year. We look at the impact of this for businesses filling in their tax returns.

Time to act on basis period reform

Making Tax Digital income tax self assessment (MTD ITSA) will start in April 2026 for the self-employed and those with income from property with gross income of more than £50,000. It has been described as the biggest change to affect tax agents and their clients since 1996/97 when self assessment was introduced. This episode of The Tax Track looks at what agents need to do now to ensure that their practice and their clients are ready.

MTD: what you should do now

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

How to fix VAT

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.

A year of two halves

ICAEW is a professional membership organisation that provides insight and leadership to the global accountancy and finance profession.

New tracks tagged #tax faculty