Press Release

CIOT welcomes clarity over new penalty regime and a light touch approach for late payments

The Chartered Institute of Taxation has welcomed today’s announcement which clarifies the introduction of the new, harmonised interest and penalties rules for the late submission and/or late payment of VAT and income tax returns. CIOT is also pleased to see confirmation that a light touch will apply initially for certain late payments of tax under… Read more »

Investment in HMRC should not leave agents behind says CIOT

The Chartered Institute of Taxation has welcomed today’s announcement of a further £180 million investment in 2021-22 for additional resources and new technology for HMRC, but urges HMRC to ensure that represented taxpayers are not left behind. CIOT Head of Tax Technical, Richard Wild, said: “We are pleased to see significant additional investment in HMRC…. Read more »