The Tax Track

In recent months, the government has published guidance and announced policy changes that could significantly affect how tax returns are prepared and how HMRC enquiries are conducted. In this episode, we’ll explore the implications for taxpayers and agents, focusing on new HMRC guidelines for ensuring that a tax return is correct and complete and changes to the requirement to notify HMRC of an uncertain tax treatment. 
Links
ICAEW:
Taxpayers encouraged to ensure returns are correct and complete - https://www.icaew.com/insights/tax-news/2025/sep-2025/taxpayers-encouraged-to-ensure-returns-are-correct-and-complete
Individuals and trusts face new obligation under uncertain tax treatment proposals - https://www.icaew.com/insights/tax-news/2026/mar-2026/individuals-and-trusts-face-new-obligation-under-uncertain-tax-treatment-proposals
Inaccuracy and failure to notify penalties must be simplified - https://www.icaew.com/insights/tax-news/2025/jun-2025/inaccuracy-and-failure-to-notify-penalties-must-be-simplified
Suspension of penalties for a one-off tax error - https://www.icaew.com/insights/tax-news/2026/feb-2026/suspension-of-penalties-for-a-one-off-tax-error
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
External: 
GOV.UK: Help ensuring documents filed with HMRC are correct and complete — GfC13 -  https://www.gov.uk/government/publications/help-ensuring-documents-filed-with-hmrc-are-correct-and-complete-gfc13
GOV.UK: Opportunities to Extend Uncertain Tax Treatment - https://www.gov.uk/government/consultations/consultation-extend-notification-of-uncertain-tax-treatment-utt-regime/opportunities-to-extend-uncertain-tax-treatment
Host: Stephen Relf, Technical Manager, Tax, ICAEW
 Guests: 
Richard Jones, Senior Technical Manager, Business Tax, ICAEW
Annis Lampard, Partner, Deloitte
Producer: Ed Adams
Episode recorded: 25 March 2026
Episode published: 7 April 2026

In a special episode of The Tax Track, recorded at ICAEW’s MTD Live event on 23 February 2026, we speak to HMRC and practitioners on how they are preparing for Making Tax Digital (MTD) for income tax, which is due to start from April 2026.    
Links 
ICAEW: Making Tax Digital - https://www.icaew.com/technical/tax/making-tax-digital
ICAEW: TAXguide 01/25: MTD income tax - https://www.icaew.com/technical/tax/tax-faculty/taxguides/2025/taxguide-01-25
ICAEW: HMRC to send final batches of MTD mandation letters - https://www.icaew.com/insights/tax-news/2026/feb-2026/hmrc-to-send-final-batches-of-mtd-mandation-letters
ICAEW: MTD: How to prepare your clients - https://www.icaew.com/insights/tax-news/2026/jan-2026/mtd-how-to-prepare-your-clients
ICAEW: MTD: how to deal with digital refusers - https://www.icaew.com/insights/tax-news/2025/dec-2025/mtd-how-to-deal-with-digital-refusers
ICAEW: MTDtalk 2026 webinar series - https://www.icaew.com/technical/tax/tax-faculty/webinars-and-recordings/tax-webinars/2026/mtdtalk-2026
MTD for Income Tax: your 30-day readiness plan with Sage - https://events.icaew.com/pd/32831
MTD for Income Tax: compliance simplified with Zoho Books - https://events.icaew.com/pd/32838/mtd-for-income-tax-compliance-simplified-with
MTD for Income Tax: from onboarding to filing with Xero - https://events.icaew.com/pd/32819/mtd-for-income-tax-from-onboarding-to-filing
Get MTD done with FreeAgent - https://events.icaew.com/pd/32837/get-mtd-done-with-freeagent
Host
Stephen Relf, Technical Manager, Tax, ICAEW
Guests
Craig Ogilvie, Director – MTD, HMRC
Hannah Miller, Director, Chipperfield Accounting
Nikhil Sangani, Chartered Accountant, Sage & Co
Rebecca Benneyworth, sole practitioner and a board member of ICAEW’s Tax Faculty
Reporter
Mark Rowland
Producer
Ed Adams

Episode recorded 23 February 2026
Episode published 3 March 2026

The Finance Bill 2025-26 is set to be the longest Finance Act in almost ten years, impacting on almost all areas of tax and posing significant challenges for taxpayers and agents. In this episode, we look at the implications for individuals and businesses, from the reform of inheritance tax to changes to capital allowances.  
Links 
ICAEW: https://www.icaew.com/technical/tax/tax-faculty/taxguides/2025/taxguide-05-25
ICAEW: https://www.icaew.com/insights/tax-news/2025/dec-2025/government-makes-further-concessions-on-iht-reforms
ICAEW: https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-further-changes-made-to-cgt-iht-and-residence-rules
ICAEW: https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-taxes-on-property-savings-and-dividends-increased
ICAEW: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2026/budget-changes-to-capital-allowances
ICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/tax-changes-require-new-approach-to-corporate-reconstructions
ICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/have-your-say-on-business-rates-reform
ICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/scottish-budget-makes-changes-to-income-tax-thresholds
ICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/welsh-businesses-to-get-more-support-for-non-domestic-rates
ICAEW: https://www.icaew.com/insights/podcast/the-tax-track/budget-25-do-the-tax-changes-meet-the-tenets
Postscript
ICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/additional-business-rates-support-announced-for-pubs
ICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/extend-inheritance-tax-payment-deadline-to-12-months-says-lords
Host
Stephen Relf, Technical Manager, Tax, ICAEW
Guests
Richard Jones, Senior Technical Manager, Business Tax, ICAEW
Katherine Ford, Technical Manager, Personal Tax, ICAEW
Producer
Ed Adams

Episode recorded 26 January 2026
Episode published 3 February 2026

In this episode, we rate the Budget against ICAEW’s ten tenets for a better tax system, focusing on the government’s decision to freeze the personal allowance and tax thresholds for an additional three years, the new tax on electric vehicles and changes to the NIC treatment of salary sacrificed pension contributions. 
Budget: Freeze on personal allowance extended - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-freeze-on-personal-allowance-extended
Budget: New levies include charge on electric vehicles - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-new-levies-include-charge-on-electric-vehicles
Budget: NIC saving on salary sacrifice pension contributions capped - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-nic-saving-on-salary-sacrifice-pension-contributions-capped
Budget: Taxes on property, savings and dividends increased - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-taxes-on-property-savings-and-dividends-increased
Budget: Changes made to VAT rules and processes - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-changes-made-to-vat-rules-and-processes
Budget: Government will not regulate tax advisers - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-government-will-not-regulate-tax-advisers
Tax Faculty Budget update 2025 - https://www.icaew.com/technical/tax/tax-faculty/webinars-and-recordings/tax-webinars/2025/28-11-2025-budget-update
How to fix VAT - https://www.icaew.com/technical/tax/vat/how-to-fix-vat
Host
Stephen Relf, Technical Manager, Tax, ICAEW

Guests
Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
Ed Saltmarsh, Technical Manager, Tax, ICAEW

Producer
Ed Adams

Episode published 1 December 2025
Episode recorded 28 November 2025

From April 2026, an estimated 864,000 sole traders and landlords will need to comply with Making Tax Digital (MTD) for income tax. In this episode, we look at recent developments, including HMRC’s plans to contact taxpayers, and we draw on the experience of special guest Rebecca Benneyworth to explain what you can do to prepare for the challenges ahead.
Making Tax Digital - https://www.icaew.com/technical/tax/making-tax-digital
TAXguide 01/25: MTD income tax - https://www.icaew.com/technical/tax/tax-faculty/taxguides/2025/taxguide-01-25
Digitally excluded can now apply for MTD exemption -  https://www.icaew.com/insights/tax-news/2025/sep-2025/digitally-excluded-can-now-apply-for-mtd-exemption
How to avoid errors when signing up clients to MTD income tax - https://www.icaew.com/insights/tax-news/2025/oct-2025/how-to-avoid-errors-when-signing-up-clients-to-mtd-income-tax
HMRC offers agents support with MTD for income tax - https://www.icaew.com/insights/tax-news/2025/aug-2025/hmrc-offers-agents-support-with-mtd-for-income-tax
Up to 3 million individuals may need to comply with MTD - https://www.icaew.com/insights/tax-news/2025/aug-2025/up-to-3-million-individuals-may-need-to-comply-with-mtd
How to keep HMRC agent account details safe - https://www.icaew.com/insights/tax-news/2025/sep-2025/how-to-keep-hmrc-agent-account-details-safe
How to complete your tax return - https://www.icaew.com/technical/tax/personal-tax/how-to-complete-your-tax-return
Host
Stephen Relf, Technical Manager, Tax, ICAEW
Guests
Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
Rebecca Benneyworth, sole practitioner and a board member of ICAEW’s Tax Faculty
Producer
Ed Adams
Episode published 31 October 2025
Episode recorded 24 October 2025