Episoder
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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.
âAssociatedâ 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.
Donât forget associated companies, warns ICAEW Tax Faculty
Links
https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/dont-forget-associated-companies-warns-icaew-tax-facultyTAXguide 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/ctm03785Panel
Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEWStephen Relf, Technical Manager, Tax, ICAEWAngela Clegg, Technical Manager, Business Tax, ICAEWProducer
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-whenPanel
Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEWStephen Relf, Technical Manager, Tax, ICAEWRichard Jones, Senior Technical Manager, Tax Policy, ICAEWProducer
Ed Adams
Episode first published: 4 April 2024
Recording date: 25 March 2024 -
Mangler du episoder?
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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 whatâs changing â and whatâs not â 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 monthâs 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.
Tax changes taking effect from April 2024:
Links
https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/tax-changes-taking-effect-from-april-2024Align 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-practitionersLessons from Ireland on changing the tax year:
https://www.icaew.com/insights/tax-news/2021/april-2021/lessons-from-ireland-on-changing-the-tax-yearOTS 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-schemeVAT: the Christmas chocolate conundrum:
https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2023/vat-the-christmas-chocolate-conundrumIs 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-simpleICAEW 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-icaewPanellists
Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEWStephen Relf, Technical Manager, Tax, ICAEWEd Saltmarsh, Technical Manager, VAT and Customs, ICAEWProducer
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, âitâs whatâs on the inside that countsâ. 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 monthâs panellists are ICAEWâs 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-allowancesChanges to the cash basis for traders:
https://www.icaew.com/technical/tax/tax-faculty/taxline/2024/articles/changes-to-the-cash-basis-for-tradersCapital allowances webinar:
https://www.icaew.com/technical/tax/tax-faculty/webinars-and-recordings/tax-webinars/2023/capital-allowancesChancellor 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-businessesPanellists
Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEWStephen Relf, Technical Manager, Tax, ICAEWRichard Jones, Senior Technical Manager, Tax Policy, ICAEWProducer
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 whatâs coming down the line in 2024.
Lindsey Wicks, ICAEWâs Senior Technical Manager for Tax Policy, talks about the forthcoming UK general election â a case of when, not if â 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 â what are the pressures on HMRCâs 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.
Whatâs in store for 2024?
Links
https://www.icaew.com/technical/tax/tax-faculty/taxline/2024/articles/whats-in-store-for-2024ICAEW 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-debatesHMRC 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-servicesHMRC service performance remains poor:
https://www.icaew.com/insights/tax-news/2023/nov-2023/hmrc-service-performance-remains-poorRegulation of the tax profession â 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-forwardHMRC acts on tax repayment agents:
https://www.icaew.com/insights/tax-news/2023/dec-2023/hmrc-acts-on-tax-repayment-agentsTAXline â the latest content from ICAEWâs Tax Faculty:
https://www.icaew.com/technical/tax/tax-faculty/taxlinePanellists
Lindsey Wicks, Senior Technical Manager for Tax Policy, ICAEWCaroline Miskin, Senior Technical Manager for Digital Taxation, ICAEWFrank Haskew, Head of Taxation Strategy, ICAEWProducer
Ed AdamsEpisode first published: 11 January 2024
Podcast recorded: 5 January 2024
