Description

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 what’s changing – and what’s not – 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 month’s 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.

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
• Align 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-practitioners
• Lessons from Ireland on changing the tax year:
  https://www.icaew.com/insights/tax-news/2021/april-2021/lessons-from-ireland-on-changing-the-tax-year
• OTS 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-scheme
• VAT: the Christmas chocolate conundrum:
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2023/vat-the-christmas-chocolate-conundrum
• Is 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-simple
• ICAEW 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-icaew

Panellists

• Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
• Stephen Relf, Technical Manager, Tax, ICAEW
• Ed Saltmarsh, Technical Manager, VAT and Customs, ICAEW

Producer
Ed Adams 

Episode first published: 29 February 2024 
Podcast recorded: 21 February 2024