Other areas

Are you frustrated by the current social distancing and inability to travel far? Do you want to do something positive? How about joining the #notKili2020 challenge in aid of the tax charities? The charities’ #Tax2020Kili sponsored challenge to ascend Mount Kilimanjaro is being postponed to September 2021, due to the Covid-19 pandemic, so we have set an alternative free UK challenge in aid of the tax charities, whose funds have been hit by cancellation of events in the pandemic, while they focus on helping more people needing to do returns and make claims from the government.

CIOT hosted a speech and roundtable discussion with HMRC Chair Edward Troup and a small group of senior representatives from the tax profession on Monday last week. Mr Troup was speaking ahead of his retirement from HMRC at the end of this month. At the event he talked about how he saw HMRC and the tax profession developing in the future, including his belief that government was likely to be tempted to put further responsibilities on tax advisers in the future. Most eye-catchingly he thought one possible direction was segmentation of tax agents, categorising them with different levels of ‘risk rating’, with their clients being scrutinised accordingly.

For professionals in tax, law and accountancy, the wider impact of money laundering can appear somewhat abstract in the grand scheme of things. 

Congratulations to two recipients of CIOT honorary fellowships made at the Institute’s President’s Luncheon today.