The Tax Track

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Jun 2026

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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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29 recent

June 9, 2026Episode 2922 min

How to prepare for a VAT enquiry

HMRC is stepping up its compliance activities when it comes to VAT. In this episode, we explain what businesses can do to prepare for a VAT enquiry and we explore how HMRC and the government could better support businesses in meeting their VAT obligations.Links ICAEW: VAT compliance controls: new guidance from HMRC - https://www.icaew.com/insights/tax-news/2025/feb-2025/vat-compliance-controls-new-guidance-from-hmrcICAEW: Making sure a tax return is correct and complete - https://www.icaew.com/insights/podcast/the-tax-track/making-sure-a-tax-return-is-correct-and-completeICAEW: Budget: Changes made to VAT rules and processes (e-invoicing) - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-changes-made-to-vat-rules-and-processes#4ICAEW: How to fix VAT - https://www.icaew.com/technical/tax/vat/how-to-fix-vatHostStephen Relf, Tax Technical Manager, ICAEWGuestsRob Janering, VAT partner, Crowe UK LLPSimon Atkins, Partner, RSM UKProducerEd AdamsEpisode recorded: 21 May 2026Episode published: 10 June 2026

May 12, 2026Episode 2827 min

Modernising and mandating agent registration

Finance Act 2026 introduces a package of measures designed to drive up standards in the tax advice market, including mandatory agent registration with HMRC. In this episode, we explain how the process will work and discuss the consequences for advisers of having their registration suspended. Links ICAEW: HMRC’s agent registration guidance lacks key details - https://www.icaew.com/insights/tax-news/2026/feb-2026/hmrcs-agent-registration-guidance-lacks-key-detailsICAEW: Government reassures agents on registration and sanctions - https://www.icaew.com/insights/tax-news/2026/feb-2026/government-reassures-agents-on-registration-and-sanctionsICAEW: TAXguide 05/25: Finance Act 2026 - https://www.icaew.com/technical/tax/tax-faculty/taxguides/2025/taxguide-05-25The HMRC standard for agents - GOV.UK - https://www.gov.uk/government/publications/hmrc-the-standard-for-agents/the-hmrc-standard-for-agentsHostStephen Relf, Tax Technical Manager, ICAEWGuestsLindsey Wicks, Senior Tax Technical Manager, ICAEWFrank Haskew, Tax Director, ICAEWProducerEd AdamsEpisode recorded: 23 April 2026Episode published: 13 May 2026

April 7, 2026Episode 2727 min

Making sure a tax return is correct and complete

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. LinksICAEW: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-completeIndividuals 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-proposalsInaccuracy 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-simplifiedSuspension 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-errorTax 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-liabilitiesExternal: 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-gfc13GOV.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-treatmentHost: Stephen Relf, Technical Manager, Tax, ICAEW Guests: Richard Jones, Senior Technical Manager, Business Tax, ICAEWAnnis Lampard, Partner, DeloitteProducer: Ed AdamsEpisode recorded: 25 March 2026Episode published: 7 April 2026

March 3, 2026Episode 2627 min

MTD Live: are you (and HMRC) ready for MTD?

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-digitalICAEW: TAXguide 01/25: MTD income tax - https://www.icaew.com/technical/tax/tax-faculty/taxguides/2025/taxguide-01-25ICAEW: 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-lettersICAEW: MTD: How to prepare your clients - https://www.icaew.com/insights/tax-news/2026/jan-2026/mtd-how-to-prepare-your-clientsICAEW: MTD: how to deal with digital refusers - https://www.icaew.com/insights/tax-news/2025/dec-2025/mtd-how-to-deal-with-digital-refusersICAEW: MTDtalk 2026 webinar series - https://www.icaew.com/technical/tax/tax-faculty/webinars-and-recordings/tax-webinars/2026/mtdtalk-2026MTD for Income Tax: your 30-day readiness plan with Sage - https://events.icaew.com/pd/32831MTD for Income Tax: compliance simplified with Zoho Books - https://events.icaew.com/pd/32838/mtd-for-income-tax-compliance-simplified-withMTD for Income Tax: from onboarding to filing with Xero - https://events.icaew.com/pd/32819/mtd-for-income-tax-from-onboarding-to-filingGet MTD done with FreeAgent - https://events.icaew.com/pd/32837/get-mtd-done-with-freeagentHostStephen Relf, Technical Manager, Tax, ICAEWGuestsCraig Ogilvie, Director – MTD, HMRCHannah Miller, Director, Chipperfield AccountingNikhil Sangani, Chartered Accountant, Sage & CoRebecca Benneyworth, sole practitioner and a board member of ICAEW’s Tax FacultyReporterMark RowlandProducerEd AdamsEpisode recorded 23 February 2026Episode published 3 March 2026

February 3, 2026Episode 2529 min

Finance Bill changes for individuals and businesses

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-05-25ICAEW: https://www.icaew.com/insights/tax-news/2025/dec-2025/government-makes-further-concessions-on-iht-reformsICAEW: https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-further-changes-made-to-cgt-iht-and-residence-rulesICAEW: https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-taxes-on-property-savings-and-dividends-increasedICAEW: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2026/budget-changes-to-capital-allowancesICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/tax-changes-require-new-approach-to-corporate-reconstructionsICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/have-your-say-on-business-rates-reformICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/scottish-budget-makes-changes-to-income-tax-thresholdsICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/welsh-businesses-to-get-more-support-for-non-domestic-ratesICAEW: https://www.icaew.com/insights/podcast/the-tax-track/budget-25-do-the-tax-changes-meet-the-tenetsPostscriptICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/additional-business-rates-support-announced-for-pubsICAEW: https://www.icaew.com/insights/tax-news/2026/jan-2026/extend-inheritance-tax-payment-deadline-to-12-months-says-lordsHostStephen Relf, Technical Manager, Tax, ICAEWGuestsRichard Jones, Senior Technical Manager, Business Tax, ICAEWKatherine Ford, Technical Manager, Personal Tax, ICAEWProducerEd AdamsEpisode recorded 26 January 2026Episode published 3 February 2026

December 1, 2025Episode 2427 min

Budget 25: Do the tax changes meet the tenets?

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-extendedBudget: New levies include charge on electric vehicles - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-new-levies-include-charge-on-electric-vehiclesBudget: 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-cappedBudget: Taxes on property, savings and dividends increased - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-taxes-on-property-savings-and-dividends-increasedBudget: Changes made to VAT rules and processes - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-changes-made-to-vat-rules-and-processesBudget: Government will not regulate tax advisers - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-government-will-not-regulate-tax-advisersTax Faculty Budget update 2025 - https://www.icaew.com/technical/tax/tax-faculty/webinars-and-recordings/tax-webinars/2025/28-11-2025-budget-updateHow to fix VAT - https://www.icaew.com/technical/tax/vat/how-to-fix-vatHostStephen Relf, Technical Manager, Tax, ICAEWGuestsLindsey Wicks, Senior Technical Manager, Tax Policy, ICAEWEd Saltmarsh, Technical Manager, Tax, ICAEWProducerEd AdamsEpisode published 1 December 2025Episode recorded 28 November 2025

October 30, 2025Episode 2330 min

The latest on MTD income tax

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-digitalTAXguide 01/25: MTD income tax - https://www.icaew.com/technical/tax/tax-faculty/taxguides/2025/taxguide-01-25Digitally excluded can now apply for MTD exemption - https://www.icaew.com/insights/tax-news/2025/sep-2025/digitally-excluded-can-now-apply-for-mtd-exemptionHow 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-taxHMRC 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-taxUp 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-mtdHow to keep HMRC agent account details safe - https://www.icaew.com/insights/tax-news/2025/sep-2025/how-to-keep-hmrc-agent-account-details-safeHow to complete your tax return - https://www.icaew.com/technical/tax/personal-tax/how-to-complete-your-tax-returnHostStephen Relf, Technical Manager, Tax, ICAEWGuestsLindsey Wicks, Senior Technical Manager, Tax Policy, ICAEWRebecca Benneyworth, sole practitioner and a board member of ICAEW’s Tax FacultyProducerEd AdamsEpisode published 31 October 2025Episode recorded 24 October 2025

October 1, 2025Episode 2229 min

Tax returns and Finance Bill concerns

In this episode of The Tax Track, we look ahead to the 2024/25 tax return season, highlighting areas to watch out for, and explain our concerns with draft legislation for Finance Bill 2025/26 that promises to make significant changes to the tax system, particularly for agents. Links ICAEW has major concerns about draft Finance Bill legislation - https://www.icaew.com/insights/tax-news/2025/sep-2025/icaew-has-major-concerns-about-draft-finance-bill-legislationGovernment’s plans for agents may harm the tax system - https://www.icaew.com/insights/tax-news/2025/sep-2025/governments-plans-for-agents-may-harm-the-tax-systemTaxpayers 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-completeIn-year CGT rate changes cause tax return errors - https://www.icaew.com/insights/tax-news/2025/aug-2025/in-year-cgt-rate-changes-cause-tax-return-errorsHMRC targets personal expenditure - https://www.icaew.com/insights/tax-news/2025/aug-2025/hmrc-targets-personal-expenditureGet ahead with 2024/25 tax returns - https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2025/get-ahead-with-2024-25-tax-returnsHostStephen Relf, Technical Manager, Tax, ICAEWGuestsLindsey Wicks, Senior Technical Manager, Tax Policy, ICAEWKatherine Ford, Tax Manager, ICAEWProducerEd AdamsEpisode recorded: 23 September 2025Episode published: 1 October 2025

September 3, 2025Episode 2138 min

The inside track from HMRC

Whether it’s performance or policy, there’s rarely an episode of The Tax Track that doesn’t mention HMRC. In this special episode we talk to one of the senior leaders at HMRC, Jonathan Athow, Director General for Customer Strategy and Tax Design.The government’s stated priorities for HMRC are to modernise and reform the tax system, improve customer service and close the tax gap; Athow explains how HMRC intends to deliver on those priorities, and crucially, what this means for ICAEW members.Links Tax software article (Sept Taxline)HMRC promises new digital solutions for taxpayers and agents | ICAEWhttps://www.icaew.com/insights/tax-news/2025/jul-2025/hmrc-promises-new-digital-solutions-for-taxpayers-and-agentsUp to 3 million individuals may need to comply with MTD | ICAEWhttps://www.icaew.com/insights/tax-news/2025/aug-2025/up-to-3-million-individuals-may-need-to-comply-with-mtdHave your say on draft Finance Bill legislation | ICAEWhttps://www.icaew.com/insights/tax-news/2025/jul-2025/have-your-say-on-draft-finance-bill-legislationHMRC is taking longer to respond to post | ICAEWhttps://www.icaew.com/insights/tax-news/2025/aug-2025/hmrc-is-taking-longer-to-respond-to-postHostStephen Relf, Technical Manager, Tax, ICAEWGuestJonathan Athow, Director General, Customer Strategy and Tax Design, HMRCProducerNatalie ChisholmEpisode recorded 21 August 2025Episode published 3 September 2025

August 1, 2025Episode 2028 min

Challenging times for HMRC and agents

July was a busy month for HMRC as it published its annual accounts and report for 2024/25, along with its transformation roadmap and draft legislation for Finance Bill 2025/26. In this episode of The Tax Track we look at the challenges HMRC faces, from improving its services to taxpayers and agents to closing the tax gap; its plans for new and improved digital services; and the possible implications of the proposed changes for agents in particular as MTD and agent registration begin to take effect.LinksHMRC continues to miss performance targets https://www.icaew.com/insights/tax-news/2025/jul-2025/hmrc-continues-to-miss-performance-targetsTax 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 HMRC promises new digital solutions for taxpayers and agents https://www.icaew.com/insights/tax-news/2025/jul-2025/hmrc-promises-new-digital-solutions-for-taxpayers-and-agents Have your say on draft Finance Bill legislation https://www.icaew.com/insights/tax-news/2025/jul-2025/have-your-say-on-draft-finance-bill-legislationICAEW reiterates concerns about MTD threshold reductionhttps://www.icaew.com/insights/tax-news/2025/jul-2025/icaew-reiterates-concerns-about-mtd-threshold-reductionPanellistsStephen Relf, Technical Manager, Tax, ICAEWFrank Haskew, Head of Taxation Strategy, ICAEWLindsey Wicks, Senior Technical Manager, Tax Policy, ICAEWProducer: Ed AdamsEpisode recorded 24 July 2025Episode published 1 August 2025