Key takeaways
- ICAEW announced the Future of Tax Commission on 16 October 2026 at its Annual Conference in London.
- The commission is chaired by Mark Hoban, Financial Secretary to the Treasury from 2010 to 2012 and an ICAEW Chartered Accountant.
- It will review the whole UK tax system, not a single tax, and set out a roadmap for reform for the 2030s and beyond.
- Substantive work starts in January 2027, thematic reports follow through 2027 and 2028, and the final report is due in Q1 2029.
- ICAEW funds the commission, but its recommendations do not need ICAEW approval and will not automatically become ICAEW policy.
- ICAEW says the UK tax code runs to more than 23,000 pages, has doubled in 20 years and contains over 1,000 reliefs.
- Evidence submissions are not open yet. ICAEW says opportunities to take part will be published when work starts in 2027.
ICAEW has set up an independent Future of Tax Commission to review the UK tax system as a whole and produce a reform roadmap for the 2030s and beyond. It was announced on 16 October 2026, is chaired by former Treasury minister Mark Hoban and will report in the first quarter of 2029. It has no power to change tax law, and its final report is timed to arrive before the general election expected in 2029.
What is the Future of Tax Commission?
It is a fixed-term commission convened and funded by ICAEW. ICAEW chief executive Alan Vallance announced it at the institute’s Annual Conference in London on 16 October 2026.
ICAEW’s news release describes it as a “root-and-branch” review. Vallance warned that the system will soon become unfit for purpose without radical but practical reform.
Who is on it?
Mark Hoban chairs the commission. He was MP for Fareham from 2001 to 2015 and Financial Secretary to the Treasury from 2010 to 2012. He is an ICAEW Chartered Accountant who trained at PwC, and has held financial services board roles since 2015.
The other commissioners have not been named. ICAEW says membership, the full remit and the work programme will be published in January 2027.
What will it look at?
The commission will examine the tax system as a whole, rather than one tax or a fixed answer. The commission’s page says it will:
- draw on evidence from taxation, economics, business, investment and public policy
- listen to ICAEW members, businesses and other stakeholders
- weigh trade-offs between growth, revenue, work, investment, competitiveness, simplicity and public confidence
- consider how reform could be sequenced and put into practice
ICAEW’s announcement names these pressures on the system:
| Pressure | What ICAEW says |
|---|---|
| Complexity | Code over 23,000 pages, doubled in 20 years |
| Reliefs | Over 1,000 tax reliefs |
| Cliff edges | Thresholds and disincentives hold back growth |
| AI and automation | Could weaken the tax base |
| Ageing population | Could weaken the tax base |
| Net zero transition | Could weaken the tax base |
The cliff edge example ICAEW gives is small firms holding turnover below the VAT registration threshold, which is £90,000 according to GOV.UK. In ICAEW’s pre-Budget survey, 56% of members said simplifying the tax and regulatory system was their top priority.
How does it build on earlier work?
The commission builds on ICAEW’s “How to Build a Better Tax System” project. Its June 2026 report, Reforming UK tax policymaking, proposed a time-limited Commission on Tax commissioned by Parliament, with an 18 to 24 month remit, plus a permanent Office for Tax.
The Future of Tax Commission is a related but separate body. ICAEW set it up itself, rather than waiting for Parliament.
ICAEW also points to the Mirrlees Review as a starting point. That review was run by the Institute for Fiscal Studies and chaired by Sir James Mirrlees, and its conclusions, Tax by Design, were published in September 2011. See the Nuffield Foundation project page.
What is the timetable?
The commission runs for about two years.
| When | What happens |
|---|---|
| 16 October 2026 | Commission announced |
| January 2027 | Remit, members and programme published; work starts |
| 2027 and 2028 | Thematic reports |
| Q1 2029 | Final report and reform roadmap |
The final report is timed to land before the general election expected in 2029.
Is it independent of ICAEW?
ICAEW funds and supports the commission, but the chair and commissioners decide its evidence, conclusions and recommendations within agreed terms of reference. Its recommendations do not need ICAEW approval and will not automatically become ICAEW policy.
Why it matters for accountants
Most practitioners deal with complexity daily: overlapping thresholds, reliefs with different tests, and frequent changes. Budget 2026 added more, such as new savings and property income tax rates and the corporate tax simplification consultation.
The commission’s reports will not change any rules. They may influence party manifestos for 2029, and so the system you advise on in the 2030s.
What advisers should do now
- Note January 2027. That is when ICAEW will publish the remit, membership and how to take part.
- Keep a list of real cliff edges. Client examples of thresholds that distort decisions make useful evidence.
- Respond to live consultations meanwhile. Government consultations from Budget 2026 are open now, while the commission is not.
- Brief interested clients. Business owners who complain about complexity may want to contribute in 2027.
Our posts on the 25% admin burden cut and tax adviser registration cover other changes affecting firms now.
Frequently asked questions
Who chairs the ICAEW Future of Tax Commission?
Mark Hoban chairs it. He was Financial Secretary to the Treasury from 2010 to 2012 and is an ICAEW Chartered Accountant.
When will the commission report?
Thematic reports are due through 2027 and 2028, with the final report and reform roadmap in the first quarter of 2029.
Can I submit evidence to the commission?
Not yet. ICAEW says opportunities to submit evidence will be published when substantive work begins in 2027.
Is the commission a government review?
No. ICAEW convenes and funds it. Its recommendations have no legal force and are not automatically ICAEW policy.
How long is the UK tax code?
ICAEW’s analysis says it runs to more than 23,000 pages and has doubled in 20 years.
Sources
Rates, thresholds and rules in this guide were checked against HMRC and GOV.UK guidance on 6 November 2026. Tax rules change, so check the current position on GOV.UK or with a qualified adviser before acting. This guide is general information, not personal advice.