Management of Taxes


It was against the backdrop of accountants being derided in the media about their role in what some see as the unfairly lenient taxation of large companies that a panel of experts in social value took the brave decision this month to ask ‘Can accountants change the world?’  An audience at the Social Value Summit in London heard from two panellist who have tried to change accounting practices to be, in their eyes, more ethical, and another speaker gave the audience her view on the premise of the debate – even touching on quarterly reporting.

With public debate about corporation tax seemingly at an unprecendented scale, CIOT Tax Policy Director John Cullinane writes for the City AM newspaper to argue against radical changes to the corporation tax system because of the furore about HMRC's deal with Google.

The CIOT comments sent to HMRC 3 February on Tackling the hidden economy.

The CIOT submitted comments on the draft legislation published on 9 December 2015, which will provide for the permanent establishment of the Office of Tax Simplification in statute, set out its functions and make provision for its governance and operation.

The CIOT has raised concerns with HMRC regarding clause 63 of the draft Finance Bill 2016 published in December 2015.  

The CIOT has written to HMRC regarding clause 60 of the draft Finance Bill 2016 published in December 2015, which proposes a new penalty arising in circumstances where the general anti-abuse rule (GAAR) applies. 

The CIOT comments sent to HMRC 2 February on Simple Assessment.

The CIOT comments sent to HMRC 2 February on Offences relating to offshore income, assets and liabilities.

CIOT has written to HMRC expressing concerns with the drafting of clause 67 Finance Bill 2016, and in particular paragraph 1 which introduces penalties for enablers of offshore tax evasion.

On Monday MPs debated the Government’s proposals for ‘Making Tax Digital’, in particular concerns that this will increase the burden on small businesses and the self-employed by making them provide quarterly tax updates.