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 mon...
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.LinksFollow the numbers: R&D tax reliefhttps://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2025/follow-the-numbers-r-and-d-tax-reliefWhat is R&D for tax purposes?https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/what-is-r-and-d-for-tax-purposesDisclosing errors in claims for research and development tax reliefhttps://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 approachhttps://www.icaew.com/insights/tax-news/2024/sep-2024/mps-briefed-on-hmrcs-r-and-d-compliance-approachSoftware project qualified for R&D tax reliefhttps://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/software-project-qualified-for-r-and-d-tax-relief PanelistsStephen Relf, Technical Manager, Tax, ICAEWRichard Jones, Senior Technical Manager, Business Taxation, ICAEWAngela Clegg, Technical Manager, Business Taxation, ICAEWProducerEd AdamsEpisode first published: 5 February 2025Podcast recorded: 28 January 2025
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25:29
Time 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.LinksGovernment and developers commit to MTD ITSA from 2026https://www.icaew.com/insights/tax-news/2024/nov-2024/government-and-developers-commit-to-mtd-itsa-from-2026MTD: what you should do nowhttps://www.icaew.com/insights/podcast/the-tax-track/mtd-what-you-should-do-now Making Tax Digitalhttps://www.icaew.com/technical/tax/making-tax-digitalPros and cons of payrolling benefitshttps://www.icaew.com/insights/podcast/the-tax-track/pros-and-cons-of-payrolling-benefits How to prepare for mandatory payrolling of benefits in kindhttps://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/how-to-prepare-for-mandatory-payrolling-of-benefits-in-kindPayrolling Benefits and Expenses webinarhttps://events.icaew.com/pd/29313/payrolling-benefits-and-expensesWhat is Making Tax Digital for income tax?https://www.icaew.com/insights/tax-news/2025/jan-2025/what-is-making-tax-digital-for-income-taxPanellistsStephen Relf, Technical Manager, Tax, ICAEWCaroline Miskin, Senior Technical Manager, Digital Taxation, ICAEWAdelle Greenwood, Technical Manager, Employment Taxes and National Insurance Contributions, ICAEWProducer Ed AdamsEpisode first published: 7 January 2025Podcast recorded: 17 December 2024
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25:18
A 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.LinksAutumn Budget 2024https://www.icaew.com/technical/economy/autumn-budget-2024Tax regulation: change must be in the public interesthttps://www.icaew.com/insights/tax-news/2024/may-2024/tax-regulation-change-must-be-in-the-public-interest MTD income tax self assessmenthttps://www.icaew.com/technical/tax/making-tax-digital/mtd-guidance/mtd-and-income-taxHMRC on holdhttps://www.icaew.com/insights/podcast/the-tax-track/hmrc-on-holdPanellistsStephen Relf, Technical Manager, Tax, ICAEWLindsey Wicks, Senior Technical Manager for Tax Policy, ICAEWFrank Haskew, Head of Taxation Strategy, ICAEWProducer Ed AdamsEpisode first published: 2 December 2024Podcast recorded: 19 November 2024
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27:35
How 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.LinksThe complicated and costly world of VAThttps://www.icaew.com/insights/tax-news/2024/oct-2024/the-complicated-and-costly-world-of-vat The ups and downs of the VAT registration thresholdhttps://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-timePanellistsStephen Relf, Technical Manager, Tax, ICAEWEd Saltmarsh, Technical Manager, VAT and customs, ICAEWRuth Corkin, Principal, VAT and Indirect Tax Advisory, Hillier HopkinsProducerEd AdamsEpisode first published: 29 October 2024Podcast recorded: 22 October 2024
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33:45
Checkout time for furnished holiday lets
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.LinksWhy furnished holiday let owners are facing higher tax billshttps://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/why-furnished-holiday-let-owners-are-facing-higher-tax-billsICAEW calls again for FHL brightline testhttps://www.icaew.com/insights/tax-news/2024/sep-2024/icaew-calls-again-for-fhl-brightline-testHMRC 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-fhlsPanellistsStephen Relf, Technical Manager, Tax, ICAEWLindsey Wicks, Senior Technical Manager, Tax Policy, ICAEWKatherine Ford, Technical Manager, Tax, ICAEWProducerEd AdamsEpisode first published: 2 October 2024Podcast recorded: 24 September 2024
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 the sector to keep their knowledge and skills sharp.
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