Tax Avoidance Disclosure: CIOT Welcomes Evolution of Disclosure Rules

The Chartered Institute of Taxation today welcomed the Inland Revenue’s announcement of amendments to the Tax Avoidance Disclosure rules. The changes, which bring in additional filters for employment products, came about following representations made by the CIOT in response to members’ concerns. Nigel Eastaway, Chairman of the CIOT’s Technical Committee said:

“We are delighted the Revenue have acted on the concerns expressed by our members about the burdens the rules as drafted would place on tax advisers and their clients. The worry was that vast quantities of routine disclosures in the employment area would have had to be made. This would have been to nobody’s advantage: these changes will focus the rules on what the Revenue really want to see and save a lot of admin all round.”

Nigel Eastaway continued:

“This is an excellent example of the professions and tax authorities working together. The CIOT has no difficulty with the aim of the disclosure rules – our members only ever operate on the basis of full disclosure to the authorities. The proposed amendments will ensure the implementation of practical, workable rules without imposing unnecessary burdens on taxpayers, tax advisers and tax authorities. The CIOT looks forward to continuing its dialogue with the Revenue on these rules.”

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