The Tax Track
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.
The Tax Track
Paying tax outside self assessment
Simple assessment and real-time reporting for capital gains tax (CGT) are two ways for HMRC and taxpayers to sidestep self assessment for income and gains.
HMRC sent out a record number of simple assessments for 2023/24. We explain what they are and explore some of the problem areas. We also explain how the often overlooked real-time reporting for CGT works and look at current issues with CGT reporting more generally.
Links
- TAXguide 09/18: simple assessment - https://www.icaew.com/technical/tax/tax-faculty/taxguides/2018/taxguide-0918-simple-assessment
- Simple Assessment guide for pensioners - https://www.gov.uk/government/publications/pensioners-and-tax-communications-materials/simple-assessment-guide-for-pensioners
- Agent Update: issue 131 - https://www.gov.uk/government/publications/agent-update-issue-131/issue-131-of-agent-update#simple
- Consider using the real-time CGT service to report gains - https://www.icaew.com/insights/tax-news/2024/apr-2024/consider-using-the-real-time-cgt-service-to-report-gains
- TAXguide 15/20: Capital gains tax UK property disposal reporting - https://www.icaew.com/technical/tax/tax-faculty/taxguides/2020/taxguide-1520-capital-gains-tax-uk-property-disposal-reporting
Panellists
- Stephen Relf, Technical Manager, Tax, ICAEW
- Caroline Miskin, Senior Technical Manager, Digital Tax, ICAEW
- Katherine Ford, Technical Manager, Personal Taxes, ICAEW
Producer
Ed Adams
Episode first published: 2 July 2025
Podcast recorded: 24 June 2025