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2012

Public submissions made by the CIOT can be accessed below:

We are frequently asked to comment on matters of tax law or practice. The improvement and simplification of tax law are major Institute objectives. If you are interested in consultations in which we are currently involved, please visit our Open Consultations area.
  • OTS review of unapproved share schemes - PAYE deadline and penalties - CIOT comments The CIOT comments, sent to the Office of Tax Simplification (OTS) on 21 December 2012, in regard to the further information on PAYE deadlines and penalties sought by the OTS as part of its review of unapproved share schemes. This is a follow up paper to the CIOT's submission to HMRC on the OTS's recommendations in their report on tax advantaged employee share schemes, published on 6 March 2012. 21 December 2012
  • OECD revised discussion draft on 'Beneficial Ownership' - CIOT comments The CIOT comments, sent to the OECD on 13 December 2012, regarding the revised discussion draft on 'Beneficial Ownership'. 13 December 2012
  • Statement of Practice SP 1/09 – CIOT comments The CIOT comments, sent to HMRC on 7 December 2012, regarding the summary of responses and draft legislation document on 'Legislation of Statement of Practice 1/09 (SP1/09). 11 December 2012
  • Exemption of higher education provided to for-profit providers - CIOT comments The CIOT comments, sent to HMRC on 6 December 2012, on the possible options that would enable for-profit providers of HE to exempt their supplies of HE where they exclusively provide these types of courses. 6 December 2012
  • Secondary Legislation Scrutiny Committee (SLSC): Approach to Consultation - CIOT comments The CIOT comments, sent on 30 November 2012, are in response to a request from the Secondary Legislation Scrutiny Committee (formerly the Merits Committee) which sought views on the Government’s new approach to consultation as set out in the Written Ministerial Statement (WMS) made by Mr Oliver Letwin, Minister for Government Policy, on 17 July 2012. 30 November 2012
  • Implementing the FATCA Agreement - CIOT and STEP comments The CIOT and STEP comments, sent to HMRC on 23 November 2012, on a consultation which sets out how HMRC intend to legislate to implement Foreign Account Tax Compliance Provisions (FATCA). The UK has entered into an agreement to implement FATCA in the UK the aim of which is to significantly increase the scope of information automatically exchanged between the US and UK Governments. 23 November 2012
  • Worldwide Debt Cap rules - CIOT comments The CIOT comments, sent to HMRC on 20 November 2012, on draft regulations published by HMRC dealing with the correction of mismatches for partnerships and pensions and also certain 'excluded schemes'. 20 November 2012
  • Vulnerable Beneficiary Trusts - CIOT comments The CIOT comments, sent to HMRC on 13 November 2012, on this consultation that is targeted 'to inform changes to tax legislation relating to trusts for vulnerable beneficiaries in order to ensure, as far as is reasonably possible, that the tax benefits for these trusts are appropriately targeted following the introduction of the Welfare Reform Act 2012'. 13 November 2012
  • Implementing Employee Owner Status - CIOT comments The CIOT comments on the Department for Business, Innovation and Skills' (BIS's) consultation on the practical issues of implementing the new employment status. The Government is creating a new employment status: ‘employee-owner’. Businesses will be able to offer individuals contracts under this new status and in return the individuals will receive shares in the company between £2,000 and £50,000 which will be exempt from CGT. 8 November 2012
  • Office of Tax Simplification: Review of unapproved share schemes: Interim Report - CIOT comments The CIOT comments, sent to the OTS on 8 November 2012, on the interim report of their review of unapproved share schemes. The report summarises areas of difficulty and suggests areas for attention. 8 November 2012
  • Enhancing consumer protection reducing regulatory restrictions - CIOT and ATT comments The CIOT and ATT's two submissions on the discussion paper and subsequent provisional report which sets out how the Legal Services Board will approach assessing the boundaries of legal services regulation and connected regulatory decisions in line with our obligations under the Legal Services Act 2007. 7 November 2012
  • Life Insurance – Time Apportioned Reduction - CIOT comments The CIOT comments, sent to HMRC on 2 November 2012, on the consultation issued regarding reforming the rules within the chargeable event gain regime (ITTOIA 2005 Part 4 Chapter 9) for life insurance policies that are designed to reflect a policyholder’s period of residence outside the UK. Any changes will be made in FB 2013. 2 November 2012
  • EC Fight against fraud to the Union's financial interests by means of criminal law - CIOT comments The CIOT comments, sent to the European Commission on 30 October 2012, regarding the Directive of the European Parliament and of the council on the fight against fraud to the Union's financial interests by means of criminal law. The CFE's comments are also attached 30 October 2012
  • Attribution of gains to members of non-resident closely controlled companies and transfer of assets abroad - CIOT comments The CIOT has submitted comments on the consultation that proposes reform of two anti-avoidance provisions: i) the attribution of gains to members of non-resident closely controlled companies and ii) transfer of assets abroad. 23 October 2012
  • Non-qualifying Life Assurance Policy Chargeable Event Gains - CIOT comments The CIOT's proactive submission, sent to HMRC on 19 October 2012, regarding Non-qualifying Life Assurance Policy Chargeable Event Gains: Bare Trusts for a Minor. 19 October 2012
  • Lifting the Lid on Tax Avoidance Schemes - CIOT comments The CIOT comments, sent to HMRC on 15 October 2012 on this consultation, which sets out some options for improving public information about tax avoidance schemes and the risks of using them, together with proposals for revising and extending the Disclosure of Tax Avoidance Schemes (DOTAS) regime. 16 October 2012
  • CGT Section 10A - shares and non-residents - CIOT comments The CIOT's proactive submission, sent to HMRC on 11 October 2012, regarding TCGA 1992 Section 10A on shares and non-residents. 11 October 2012
  • Foreign Currency Assets and Chargeable Gains - CIOT comments The CIOT comments, sent to HMRC on 11 October 2012, on whether or not to introduce a rule requiring companies which do not use a sterling currency for accounting purposes to compute their chargeable gains and allowable losses in a currency other than sterling and if so, the potential scope of such a rule. 11 October 2012
  • The Stamp Duty Land Tax 'transfer of rights’ or 'subsale' rules - CIOT comments The CIOT comments, sent to HMRC on 9 October 2012, on the consultation 'High-risk areas of the tax code: The Stamp Duty Land Tax 'transfer of rights' or 'subsale' rules' on options for reforming FA 2003 section 45 (Contract and conveyance; effect of transfer of rights). 9 October 2012
  • Delivering a cap on Income Tax reliefs - CIOT comments The CIOT comments, sent to HMRC on 5 October 2012, on this consultation which provides details on the cap on unlimited income tax reliefs and seeks to ensure that those on the highest incomes pay a fairer rate of tax. 8 October 2012
  • Inheritance Tax: Simplifying Charges on Trusts - CIOT comments The CIOT comments, sent to HMRC on 3 October 2012, on this consultation which explores possible options for simplifying the calculation of the IHT periodic and exit charges on trusts that hold or dispose of relevant property. 3 October 2012
  • OECD International VAT/GST Guidelines - CIOT comments The CIOT comments, sent to the OECD on 26 September 2012, on the International VAT Neutrality Guidelines, part of the OECD International VAT/GST Guidelines which are currently being developed by the OECD's Committee on Fiscal Affairs. The Guidelines provide rules for the application of VAT to cross-border trade and are based on the destination principle, which provides that internationally traded services and intangibles should be taxed according to the rules of the jurisdiction of consumption. 26 September 2012
  • Controlled Foreign Companies (CFCs) - revised regulations (ETE) and draft guidance - CIOT comments The CIOT comments, sent to HMRC on 25 September 2012, on the ETE, part of the new CFC regime. The purpose of the ETE within the new regime is to exempt CFCs that are resident in territories where the CFC’s income is taxed at a rate broadly similar to that of the UK main corporate tax rate and where the CFC satisfies some general residence and income conditions. 25 September 2012
  • Extra Statutory Concession A19 Review - CIOT comments The CIOT comments, send to HMRC on 24 September 2012, on this consultation designed to explore the option for a revised version of Extra-statutory Concession (ESC) A19. It is not intended to cover whether ESC A19 should exist or the scope of concessions, but rather how HMRC may be able to improve the clarity of this particular concession ensuring it continues to be applied appropriately. 25 September 2012
  • Tax advantaged employee share schemes - CIOT comments The CIOT comments, sent to HMRC on 20 September 2012, on the recommendations made by the Office of Tax Simplification (OTS) in its report on tax advantaged employee share schemes, which was published on 6 March 2012. The Government is consulting on 15 of the OTS’s recommendations. 20 September 2012
  • Transfer Pricing - CIOT comments The CIOT comments, sent to the OECD on 19 September 2012, on the discussion drafts and press releases on transfer pricing aspects of intangibles, safe harbours for transfer pricing and certain transfer pricing timing issues. 19 September 2012
  • A General Anti-Abuse Rule - CIOT and ATT comments The CIOT and ATT comments, sent to HMRC on 13 September 2012, on this consultation which outlines the details of the proposal to introduce a GAAR, including draft legislation. 13 September 2012
  • Statutory definition of tax residence and reform of ordinary residence: a summary of responses - CIOT comments The CIOT comments, sent to HMRC on 12 September 2012, on the consultation document 'Statutory definition of tax residence and reform of ordinary residence: a summary of responses'. 12 September 2012
  • Disincorporation Relief - CIOT comments The CIOT comments, sent to the Treasury on 10 September 2012, on a disincorporation relief. The consultation focuses questions specifically on those businesses identified by the OTS as most likely to want to disincorporate, further investigating the nature and scale of demand for the relief, examining some of the design parameters, and looking more closely at issues around creditor protection. 10 September 2012
  • Securing compliance with RTI - CIOT comments The CIOT comments, sent to HMRC on 6 September 2012, on securing compliance with Pay As You Earn (PAYE) Real Time Information (RTI) and the late filing and late payment penalty models which will apply where compliance is not achieved. 6 September 2012
  • Banking Reforms - CIOT comments The CIOT comments on HM Treasury's white paper 'Banking Reform: delivering stability and supporting a sustainable economy'. The white paper sets out the Government’s proposals for implementation of the recommendations of the Independent Commission on Banking, which include ring-fencing vital banking services, increasing banks’ loss-absorbency and enhancing competition in the banking sector. 30 August 2012
  • SEIS conditions for relief subsciber shares - CIOT comments The CIOT comments, sent to HMRC on 21 August 2012, regarding Seed Enterprise Investment Scheme and conditions for relief subscriber shares. Also attached are HMRC's response (31 August 2012), our follow up letter (3 September 2012) and HMRC's further response (6 September 2012). 21 August 2012
  • Withdrawing a notice to file a Self Assessment return - CIOT comments The CIOT comments, sent to HMRC on 16 August 2012, on a proposal to introduce a statutory power allowing HMRC to withdraw a previously issued notice to file a personal, trustee or partnership SA return and to cancel any penalty for failure to make such a return, where it is appropriate to do so. HMRC aim to ensure that only those people whose circumstances make the income tax Self Assessment (SA) regime appropriate are included in the requirement to file returns. 16 August 2012
  • The Taxation of Controlling Persons - CIOT comments The CIOT comments, sent to HMRC on 16 August 2012, on their consultation about the engagement practices of controlling persons. It proposes that a provision is introduced to ensure that controlling persons have income tax (PAYE) and National Insurance deducted at source by the engaging organisation. 16 August 2012
  • Ensuring the fair taxation of residential property transactions - CIOT comments The CIOT comments, sent to HM Treasury on 8 August 2012, on the consultation covering the Budget announcements on (i) an annual charge on residential properties valued over £2m by certain non-natural persons and (ii) the extension of CGT to the disposal by certain non-resident non-natural persons of residential property or the envelopes in which they are held. 8 August 2012
  • Universal Credit Regulations 2012 - CIOT comments The CIOT comments, sent to the Department of Work and Pensions on 30 July 2012, regarding: the draft regulations on Universal Credit; and the draft regulations on Universal Credit, Personal Independence Payment and Working-age Benefits (Claims and Payments). 30 July 2012
  • VAT: Road Fuel Scale Charges - CIOT comments The CIOT comments, sent to HMRC on 20 July 2012, on the technical paper dealing with Road Fuel Scale Charge changes to UK law to comply with EU law and streamlining the scheme. 20 July 2012
  • VAT: Changes to VAT invoice rules - CIOT comments The CIOT comments, sent to HMRC on 6 July 2012, regarding a technical note covering changes to the existing UK VAT invoicing rules to reflect the changes introduced by the EU Council Directive 2010/45/EU. 6 July 2012
  • Non-dom business investment draft regs - CIOT comments The CIOT's proactive comments, sent to HMRC on 6 July 2012, regarding the non-dom business investment draft regulations issued on 11 June 2012, and HMRC's subsequent response (12 July 2012). 6 July 2012
  • Simpler Income Tax Concerns - CIOT comments The CIOT comments, sent to David Gauke MP, Exchequer Secretary to the Treasury on 5 July 2012, as a follow up submission regarding concerns about the proposals in the recent consultation on introducing a cash basis for small businesses subject to income tax. Our original submission and consultation document are also attached. 5 July 2012
  • Lease Premiums - CIOT comments The CIOT comments, sent to HMRC on 29 June 2012, on this informal consultation on the potential implications of amending a complex element of lease premium relief, concerning the deemed tax treatment of long leases as shorter leases. 29 June 2012
  • 'Above the line' credit for research and development - CIOT comments The CIOT comments, sent to HMRC on 27 June 2012, on proposals for implementing an 'above the line' research and development (R&D) tax credit, which will be more effective in supporting innovation in large companies. The Government’s aim is to do this in a way that is consistent with fiscal sustainability, simplicity and ease of administration within the tax system. 27 June 2012
  • Alcohol Fraud - CIOT comments The CIOT comments, sent to HMRC on 25 June 2012, on HMRC's consultation outlining legislative options intended to reduce the scale of alcohol fraud. 25 June 2012
  • Stamp duty – consideration less than £1,000 - CIOT comments The CIOT's proactive comments, sent to HMRC on 25 June 2012, on Stamp Duty certified instruments. 25 June 2012
  • Simpler Income Tax for the Simplest Small Businesses - Public consultation The CIOT comments, send to HMRC on 22 June 2012, on the consultation document which seeks your views on proposals that are relevant to individuals carrying on a trade or profession as a self-employed sole trader, or in partnership with other individuals. HMRC wished to consult on the proposed design of the cash basis and simplified expenses. 25 June 2012
  • Possible changes to the income tax rules on interest - CIOT comments The CIOT invites comments, sent to HMRC on 21 June 2012, on proposals for changes to income tax rules on the taxation of interest received, and rules on the deduction of tax from interest paid. This consultation document affects persons who are subject to Income Tax on interest in accordance with the Income Tax (Trading and Other Income) Act 2005, or who are required to deduct income tax from interest and other payments in accordance with the Income Tax Act 2007. 21 June 2012
  • Carbon Price Support - CIOT comments The CIOT comments on the further legislative provisions and future rates to the Carbon Price Floor as detailed in the TIIN published earlier this year. 19 June 2012
  • Exemption for ERICs - CIOT comments The CIOT comments, sent to HMRC on 19 June 2012, regarding the exemption being created for the European Research Infrastructure Consortia (ERICs). 19 June 2012
  • Section 809L Income Tax Act 2007 - CIOT comments The CIOT comments, sent to HMRC on 15 June 2012, and HMRC's subsequent response received 2 October 2012, regarding Section 809L - Income Tax Act 2007 15 June 2012
  • IHT Reduced Rate for Charitable Legacies: Interaction with s.25 IHTA 1984 - CIOT comments The CIOT comments, submitted to HMRC on 16 May 2012, and HMRC's subsequent response in June on the interaction with s.25 IHTA 1984. 6 June 2012
  • Double non-taxation - CIOT comments The CIOT comments, sent to the European Commission on 28 May 2012, on the public consultation requesting factual examples and possible ways to end double-non-taxation of companies. The contributions and a summary report are also available here. 28 May 2012
  • Gift Aid Small Donations Scheme - CIOT comments The CIOT comments, sent to HMRC on 24 May 2012, regarding the policy design of the new Gift Aid Small Donations Scheme to be introduced in 2013. The consultation outlines how qualifying charities and Community Amateur Sports Clubs will be able to claim a top-up payment equivalent to Gift Aid on small cash donations. 24 May 2012
  • VAT: Addressing borderline anomalies - CIOT comments The CIOT comments, sent to HMRC on 16 May 2012, on their consultation document entitled 'VAT: Addressing borderline anomalies'. 16 May 2012
  • Enhanced Capital Allowances - CIOT comments The CIOT comments, sent to HM Treasury on 14 May 2012, regarding enhanced capital allowances – energy saving plant and machinery and environmentally beneficial plant and machinery. 14 May 2012
  • CFC clause 180, Schedule 20 Finance (No4) Bill – CIOT comments The CIOT comments, sent to HMRC on 9 May 2012, regarding the draft provisions in Schedule 20 Finance (No4) Bill regarding the proposed new rules for CFCs. 10 May 2012
  • EMI Share Options and Entrepreneurs' Relief - CIOT comments The CIOT comments, sent to HMRC on 30 April 2012, regarding Enterprise Management Incentives (EMI) and Entrepreneurs' Relief. 30 April 2012
  • Hansard Society Consultation ‘Lifting the Lid on Delegated Legislation’ – CIOT comments The CIOT comments, sent to the Hansard Society on 26 April 2012, on their consultation entitled 'Lifting the Lid on Delegated Legislation - Issues and Questions Paper'. 26 April 2012
  • Treasury Committee: Principles of Tax Policy and Budget 2012 - CIOT/LITRG comments The CIOT and LITRG comments, sent to the Treasury Committee on 16 April 2012, on how Budget 2012 (and succeeding Finance Bill) meet the Committee's tax policy principles, as expressed in its 2011 report on Principles of Tax Policy. 18 April 2012
  • Statutory Register of Lobbyists - CIOT/ATT/LITRG consultation The CIOT/ATT/LITRG comments on the Cabinet Office's consultation on 'Introducing a Statutory Register of Lobbyists'. 13 April 2012
  • Stamp Duty Land Tax: Rate in Respect of Residential Property where Consideration over £2million - CIOT comments The CIOT comments, sent to HRMC on 5 April 2012, and supplementary response, sent on 27 April 2012, regarding New Schedule 4A to Finance Act 2003 Stamp Duty Land Tax and the rate in respect of residential property where consideration is over £2 million. 5 April 2012
  • Mortgage Market Review: Proposed package of reforms - CIOT comments The CIOT comments, sent to the Financial Services Authority on 29 March 2012, regarding the proposed package of reforms to the Mortgage Market. 30 March 2012
  • CFC reform – a Gateway update - CIOT comments The CIOT comments, sent to HRMC on 16 March 2012, on this update to the Controlled Foreign Companies (CFC) reform consultation, which includes what HMRC hope to be an improved Gateway test. 16 March 2012
  • Scotland's constitutional future: consultation on a referendum - CIOT comments The CIOT comments, sent to the Scotland Office on 12 March 2012, regarding the consultation on a referendum into Scotland's constitutional future published in January 2012. 12 March 2012
  • Loan relationships and connected companies - CIOT comments The CIOT comments, sent to HMRC on 9 March 2012, on draft legislation which is intended to counter arrangements under which a company seeks to avoid the charge arising under the corporation tax rules on ‘deemed releases’ of loan relationships. 9 March 2012
  • Microgeneration installations - CIOT comments A proactive letter, sent to HMRC on 1 March 2012, regarding microgeneration installations and relief from CGT on disposal of private residence. 1 March 2012
  • Extra Statutory Concessions (ESC) A81: fifth technical consultation on draft legislation - CIOT comments The CIOT comments, sent to HMRC on 24 February 2012, regarding the consultation on amending legislation which preserves the effect of ESC A81 (Termination payments and legal costs). 24 February 2012
  • Tax Transparency for Individuals - CIOT comments The CIOT comments, sent to HMRC on 24 February 2012, on the discussion document 'Modernising the administration of the personal tax system: Tax Transparency for Individuals’ which seeks feedback and ideas for how the administration of the personal tax system could be improved to achieve better understanding and make it easier for taxpayers to deal with. 24 February 2012
  • Tax in Developing Countries - CIOT comments The CIOT comments, sent to the House of Commons International Development Committee on 15 February 2012, regarding tax in developing countries and increasing resources for development. 15 February 2012
  • FB12 draft clauses - CIOT comments The CIOT comments, sent to HMRC and HM Treasury, on the Finance Bill 2012 (FB12) draft clauses. All the CIOT's FB12 submissions will be posted here. 14 February 2012
  • FB12 Pensions - CIOT comments The CIOT comments regarding Pensions draft legislation released in December. 2 February 2012
  • General Anti-Avoidance Rule - CIOT and ATT comments The CIOT and ATT comments, sent to HMRC on 27 January 2012, regarding the proposals for a General Anti-Avoidance Rule (GAAR) as set out in 'The Aaronson Report'. It represents the combined views of the CIOT and ATT; it has also had input from LITRG. 30 January 2012
  • Cost Displacement - CIOT/ATT/LITRG comments The CIOT, ATT and LITRG comments, sent to the Treasury Committee on 26 January 2012, regarding 'cost displacement' from the Committee's report on the 'Administration and Effectiveness of HMRC'. 26 January 2012
  • Scotland Bill - CIOT comments The CIOT comments, sent to the Parliamentary Committee on 18 January 2012, regarding the taxation provisions in the Scotland Bill. 18 January 2012
  • OECD discussion draft: Permanent establishment - CIOT comments The CIOT comments, sent to the OECD on 13 January 2012, on the discussion draft which includes recommendations on the interpretation and application of article 5 (Permanent establishment) of the OECD Model Tax Convention. 13 January 2012
  • Improving the operation of PAYE: Collecting Real Time Information (RTI) - CIOT comments The CIOT comments, sent to HMRC on 10 January 2012, on this technical note which presents draft amendments to regulations relating to PAYE, National Insurance contributions (NICs) and the Construction Industry Scheme (CIS) in readiness for the introduction of RTI. 10 January 2012
  • Interest and royalty payments made between associated companies of different Member States - CIOT comments The CIOT comments, sent to the European Commission on 10 January 2012, regarding the proposal for a Council Directive on a common system of taxation applicable to interest and royalty payments made between associated companies of Member States. 10 January 2012
  • Lecturers, teachers, instructors or those in a similar capacity - CIOT comments The CIOT comments, sent to HMRC on 6 January 2012, on their consultation which seeks views on the possible repeal of the regulations from April 2012 in relation to lecturers, teachers, instructors or those in a similar capacity and what the positive (or negative) consequences of repealing the rules would be. 6 January 2012
 
 

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