ICAEW.com works better with JavaScript enabled.

Tax reform

ICAEW’s Tax Faculty draws on its members’ expertise to examine hot topics in tax and provide practical solutions to challenges faced by policymakers and regulators. This is underpinned by the faculty’s Ten Tenets for a Better Tax System that set out the characteristics against which it evaluates tax systems and tax policies.

Contents
Back to top
Empty office
Man in business suit
Two people in an office

Ten Tenets for a Better Tax System

The Tax Faculty has formulated Ten Tenets for a Better Tax System. This comprises 10 key characteristics against which to evaluate tax systems and tax policies, which include: simplicity, certainty and reasonableness.
Read more

Building a better UK tax system

As HMRC embarks on a 10-year review of tax administration, ICAEW examines the potential opportunities and challenges to reforming the UK's tax system to be fit for a digital future.
Read more

Autumn Budget 2024

On 30 October 2024, Chancellor Rachel Reeves delivered the Autumn Budget. Read ICAEW's reaction and analysis.
Read more

Tax Faculty analysis of UK Budget and fiscal events

Tax gap falls slightly as a percentage of tax liabilities
  • Article
  • 20 Jun 2025
Based on estimated figures published by HMRC, the tax gap for 2023/24 is £46.8bn, equal to 5.3% of total tax liabilities. ICAEW’s Tax Faculty looks at the key figures.
Follow the numbers: Tax debt
  • Article
  • 13 May 2025
Tax debt increased significantly during the COVID-19 pandemic and remains stubbornly high. ICAEW looks at what HMRC is doing to collect overdue tax and to help taxpayers manage their tax payments.
Follow the numbers: Frozen personal tax thresholds
  • Article
  • 01 May 2025
The Office of Budget Responsibility’s latest economic and fiscal outlook, published alongside the Spring Statement on 26 March 2025, shows how the policy to freeze personal tax thresholds is affecting tax revenues and the tax system.
Landlords advised not to use tax avoidance scheme
  • Article
  • 01 May 2025
HMRC has warned against the use of a capital gains tax (CGT) avoidance scheme that involves an individual transferring their property business to a limited liability partnership (LLP), which is then put into members’ voluntary liquidation (MVL).
HMRC turns the screw on tax scheme promoters
  • Article
  • 10 Apr 2025
The government has proposed giving HMRC “additional powers and stronger sanctions” to clamp down on promoters of tax avoidance schemes in a consultation published alongside the Spring Statement on 26 March 2025.
Tax news in brief 9 April 2025
  • Article
  • 09 Apr 2025
Highlights from the broader tax news for the week ending 9 April 2025, including: an update on legislation to enact changes announced at the Autumn Statement 2024; and new guidance for agents on Making Tax Digital (MTD) for income tax.
Government considers extending R&D advanced clearance service
  • Article
  • 28 Mar 2025
After preliminary discussions with key stakeholders, including ICAEW, a consultation on widening the advanced clearance process for research and development (R&D) tax relief was published alongside the Spring Statement on 26 March 2025.
MTD income tax will be extended in 2028
  • Article
  • 26 Mar 2025
Alongside the Spring Statement 2025, it was announced that Making Tax Digital (MTD) for income tax will be extended to those with turnover of more than £20,000 from April 2028. Taxpayers in MTD income tax will need to use commercial software for their final tax return.
View all

Tax representations

ICAEW REP 051/25 Draft legislation: carbon border adjustment mechanism
  • Representation
  • 03 Jul 2025
  • PDF (140kb)
A representation dated 2 July 2025 to a consultation published by HM Revenue & Customs on 24 April 2025.
ICAEW REP 047/25 Shaping the future of AIM
  • Representation
  • 23 Jun 2025
  • PDF (326kb)
A representation dated 20 June 2025 to a consultation published by the London Stock Exchange on 7 April 2025.
ICAEW REP 045/25 Reform of behavioural penalties
  • Representation
  • 18 Jun 2025
  • PDF (226kb)
A representation dated 17 June 2025 to a consultation published by HM Revenue & Customs on 26 March 2025.
ICAEW REP 044/25 Closing in on promoters of marketed tax avoidance
  • Representation
  • 17 Jun 2025
  • PDF (328kb)
A representation dated 16 June 2025 to a consultation published by HMRC on 26 March 2025.
ICAEW REP 041/25 Advance tax certainty for major projects
  • Representation
  • 11 Jun 2025
  • PDF (228kb)
A representation dated 11 June 2025 to a consultation published by HM Treasury on 26 March 2025.
ICAEW REP 039/25 Better use of new and improved third party data
  • Representation
  • 21 May 2025
  • PDF (233kb)
A representation dated 21 May 2025 to a consultation published by HMRC on 26 March 2025.
ICAEW REP 040/25 Advanced assurance R&D
  • Representation
  • 21 May 2025
  • PDF (179kb)
A representation dated 21 May 2025 to a consultation published by the government on 26 March 2025.
ICAEW REP 037/25 Small business access to finance
  • Representation
  • 14 May 2025
  • PDF (334kb)
A representation dated 9 May 2025 to a consultation published by the Department for Business and Trade and HM Treasury on 13 March 2025.
View more

Watch a Tax Faculty webinar

Webinars and videos have been designed by the Tax Faculty to provide practical guidance to practitioners on important developments to tax practice and policy.

You can register for Tax Faculty webinars by visiting our events page.
Register now
Cameraman filming
OSZAR »