Blog archive - 2019

Part of an occasional series in which CIOT tax experts explain the background to topical issues

South Thanet MP Craig Mackinlay led a Westminster Hall debate on Tuesday 3 September, calling for an extension of the penalty suspension to those people impacted by the withdrawal of child benefit for higher earners.

Over the last decade, we have witnessed a revolution in cross-border tax information exchange and reporting—with significant repercussions for global tax compliance, tax planning and tax enforcement.

A House of Commons Committee has said that HMRC must do more to support vulnerable taxpayers involved in tax disputes, after taking oral and written evidence from CIOT and LITRG and others.

It has been widely reported that, shortly before being elected Prime Minister, Boris Johnson gave support to suggestions by the Association of Accounting Technicians (AAT) that the liability to pay Stamp Duty Land Tax (SDLT) should be switched from the buyer to the seller.  This idea leads to some interesting issues.

Boris Johnson’s victory in the Conservative leadership election could lead to a flurry of tax changes when MPs return to the Commons in the autumn. The former Mayor of London – sometimes referred to in the media as ‘Bo Jo’ – won the contest with a promise to both cut taxes and increase spending on schools and the police. However, his most significant pledge is that Britain will leave the EU on 31 October 2019, in a ‘no deal’ scenario if necessary.

‘Natural migration’ is trapping benefit claimants in the DWP ‘lobster pot’, struggling with a sudden drop in income and with no way back, says the Work and Pensions Committee as it published its latest report on universal credit this week (23).

Chief Secretary to the Treasury Liz Truss was asked by Conservative MP Andrew Selous to make a statement on the implications for patients of the taxation of NHS pensions.

MPs debated the first two decades of devolution in a Commons debate led by the Scottish and Welsh Affairs committees last week.

In response to questioning from the House of Lords Economic Affairs Committee the Financial Secretary revealed that he would shortly be announcing 'clarifications' to the loan charge, including a commitment that HMRC will not apply the loan charge to a tax year which was closed on the basis of fully disclosed information.