Management of Taxes


A live blog on the fifth and sixth public bill committee sittings of Finance Bill 2017-19, which took place on Tuesday 24 October 2017 at 9.25am and 2pm.

The CIOT comments sent to HMRC on MTD: sanctions for late submission and late payment.

The CIOT comments sent to HMRC in relation to a call for evidence on ‘Fraud on provision of labour in construction sector: consultation on VAT and other policy options’.

HMRC have asked us to draw attention to their following notice about forthcoming Talking Points meetings  

John Preston, Incoming CIOT President of the Chartered Institute of Taxation (CIOT), sets out some of the differences between the approaches of the UK and Australian revenue authorities in the ways they are implementing their respective Making Tax Digital (MTD) programmes. 

The CIOT comments sent to HMRC on FB17 Clause 124 Errors in taxpayers' documents.

MPs debated the Report Stage and Third Reading of the Criminal Finances Bill in the House of Commons on Tuesday 21 February. Some amendments were made at Report stage and the Bill passed its Third Reading. The Bill, which includes new corporate offences of domestic and foreign failure to prevent tax evasion, now progresses to the House of Lords for further scrutiny.

This consultation is considering the introduction of a new legal requirement that intermediaries creating or promoting certain complex offshore financial arrangements notify HM Revenue and Customs (HMRC) of their creation and provide a list of clients using them. Clients in their turn would be expected to notify HMRC of their involvement via a notification number on their self-assessment tax return or personal tax account. Those who fail to comply with these requirements would incur civil sanctions.

The draft legislation in clause 91 follows a consultation document “Strengthening Tax Avoidance Sanctions and Deterrents: A discussion document” issued on 17 August 2016.  The response document issued on 5 December 2016 referred to modifying the existing penalty regime for users of tax avoidance, “so that penalties are chargeable when complex tax avoidance arrangements are defeated”. HMRC state in the explanatory notes to the draft legislation that the aim of the clause is to act as a disincentive to entering into tax avoidance.

To reduce complexity, cut down costly errors and create a more stable, predictable environment for taxpayers, the Government must change the way it makes tax and budget decisions, argues a new report from CIOT and two other institutes.