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New CIOT president declares "tax system not broken, and dangerous to allow impression to take hold that it is"
The incoming President of the Chartered Institute of Taxation (CIOT), Patrick Stevens, will today tell CIOT members that the tax profession should be prepared to speak up in defence of the UK tax system when it comes under fire unfairly.
CIOT: HMRC shifting of admin costs is ‘stealth tax’ on taxpayers
Outgoing President of the Chartered Institute of Taxation (CIOT), Anthony Thomas, will today comment on cost, tax avoidance, and "standing up to HMRC."
CIOT: 5.1 million tax reconciliations – not errors
Attacks on HMRC for making 5.1 million ‘errors’ in people’s tax for the year 2011-12 are unfounded and derive from a misunderstanding of what the PAYE system is currently capable of achieving, says the Low Incomes Tax Reform Group (LITR)
CIOT: ‘Digitally excluded’ losing out as Government moves online
A report published today (Wednesday 9 May) by the Low Incomes Tax Reform Group (LITRG) highlights the growing problem of ‘digital exclusion’. It provides new evidence that government efforts to move services and transactions online are disadvantaging older people, those with disabilities and the self-employed in particular.
Tax information obligations will present problems for small employers
The Low Incomes Tax Reform Group (LITRG) has said that HM Revenue and Customs’ (HMRC’s) assessment of the impact of the introduction of Real Time Information (RTI) on small employers is inadequate.
CIOT: New German-Swiss tax deal opens door to UK-Swiss deal rewrite
Today’s announcement that Switzerland and Germany have agreed changes to their tax treaty is likely to lead to higher charges for UK holders of undeclared Swiss bank accounts too.
CIOT: Campaigners issue alert over tax credit changes
The Low Incomes Tax Reform Group (LITRG) is warning a number of groups of tax credit claimants that they need to contact HM Revenue and Customs (HMRC) if they want to continue receiving working tax credit after this week.
CIOT: Finance Bill 2012 weighs in at 670 pages
The CIOT has expressed concern at the sheer size of the Finance Bill published today. At 670 pages (plus almost as many of explanatory notes) it must be one of the longest, if not the longest, on record.1 To the CIOT, it emphasises the crucial need for full consultation in advance of measures to go into the Finance Bill.
CIOT: Tax campaigners criticise withdrawal of paper filing option for VAT returns
The Low Incomes Tax Reform Group (LITRG) has criticised HM Revenue and Customs (HMRC) for making it compulsory to file VAT returns online without retaining the option of filing a paper return.
CIOT: Welcome for progress on CFC reform
The Chancellor of the Exchequer said in today’s Budget that, following consultation, the controlled foreign company (CFC) rules will be replaced in Finance Bill 2012. The Chartered Institute of Taxation (CIOT) looks forward to seeing the detail of the final proposals for CFC reform when the Finance Bill is published next week.
CIOT: Will tax reliefs cap prevent self-employed offsetting losses?
The Chancellor of the Exchequer announced in today’s Budget that legislation will be introduced to apply a cap on income tax reliefs claimed by individuals from 6 April 2013, where the reliefs are currently unlimited.
CIOT: Solutions to child benefit problems add further complexity
The Chancellor announced today that child benefit will be withdrawn from households containing individuals with incomes of more than £50,000. This will take effect from 7 January 2013.
CIOT: Cautious welcome for GAAR from tax advisers
The announcement in today’s Budget that the government will press ahead with a General Anti-Abuse Rule (GAAR) has been given a qualified welcome by the Chartered Institute of Taxation (CIOT).
CIOT: Budget: R&D Tax Credits – ‘above the line’ relief welcomed
The Chartered Institute of Taxation (CIOT) has welcomed the confirmation by the Chancellor of the decision to introduce an ‘above the line’ research and development (R&D) tax credit in Finance Bill 2013. The CIOT has previously said that an 'above the line' tax credit system will provide a far stronger incentive for businesses to invest in R&D.
CIOT: Two cheers for personal allowance increase
Commenting on the Chancellor’s announcement of a further increase in the income tax personal allowance, Robin Williamson, Technical Director of the Low Incomes Tax Reform Group (LITRG), said:
CIOT welcomes proposal to allow small businesses to use cash basis for calculating profits
Today’s Budget announcement that the Government intend to consult on allowing businesses with a turnover of up to £77,000 per annum to move to the cash basis for calculating taxable profits, has been described as a radical and sensible move by the Chartered Institute of Taxation (CIOT).
CIOT: Taxman listens to concerns about timing of VAT systems downtime
HM Revenue & Customs (HMRC) have listened to concerns expressed last year when the online filing system was taken down over the April VAT return deadline, says the Chartered Institute of Taxation (CIOT).
CIOT: As HMRC announces another campaign, tax advisers say: Time for a general disclosure facility
HM Revenue and Customs (HMRC) should heed the advice of the House of Commons Treasury Committee and establish a ‘general disclosure facility’ to make it as easy as possible for people to put their tax affairs in order, says the Chartered Institute of Taxation (CIOT).
Pensioner tax simplification report welcomed by age-old campaigners
The Low Incomes Tax Reform Group (LITRG) has welcomed the Office of Tax Simplification’s (OTS) interim report on pensioner taxation and looks forward to supporting the OTS’s ongoing quest for improvements.
CIOT: Tax bodies back social mobility push
The Chartered Institute of Taxation (CIOT) and Association of Taxation Technicians (ATT) have welcomed the launch of a new resource to support efforts to increase the number of people from non-privileged backgrounds entering accountancy, law, tax advice and other professions.
CIOT: Small business proposals have potential to cut tax burdens
The Chartered Institute of Taxation (CIOT) has welcomed recommendations from the Office of Tax Simplification (OTS) for improving the way the tax system works for small businesses.
CIOT: Closer scrutiny for big tax disputes is welcome
The Chartered Institute of Taxation (CIOT) has welcomed HMRC’s announcement today of new governance arrangements for significant tax settlements.
Charities collaborate on tax debt advice films
Six short films have been published online giving free, expert advice on how to handle tax debt.
CIOT: Electricians face shock treatment over taxes
Electricians with dodgy connections in their tax affairs should come forward if they want to avoid getting a nasty shock from the taxman, says the Chartered Institute of Taxation (CIOT).
CIOT: Builders join doctors and tutors in the taxman’s sights
Today’s announcement of three new targeted campaigns from HM Revenue and Customs (HMRC) indicates there will be no let up on tackling tax evasion in 2012, says the Chartered Institute of Taxation (CIOT).
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