Blog

Edinburgh’s iconic Signet Library provided the venue once again for the CIOT/ATT Joint Presidents’ Luncheon.

More than 160 guests, comprising senior figures from Scotland’s legal and tax professions, joined the Presidents of CIOT and ATT for the luncheon, alongside representatives from Scottish politics, government and the media.

Representatives of HMRC defended the Making Tax Digital project to the Economic Affairs Finance Bill Sub-Committee after stakeholders had criticised the breadth and timing of the plans in previous Committee sessions. 

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.

Sometimes it can be hard to keep up with the avalanche of government announcements on tax avoidance and evasion. This guide, produced by Jason Collins, a member of the CIOT’s Management of Taxes Sub-Committee, should bring tax agents, journalists and others with an interest in tax compliance up to speed with the rapidly changing landscape in this area.

The Scottish Parliament has confirmed the rates and thresholds for income tax that will apply to the non-savings and non-dividend income of Scottish taxpayers from 6 April 2017. We take a look at some of the effects.

There is a touch of the counsel of despair in Bill Gates’ suggestion that robots should ‘pay’ income tax when they replace work done by humans and the extra money used to retrain people that robots have replaced. But the attempt by Gates to link taxation to a long term problem in society is to be welcomed.

The Finance Bill Sub-Committee of the House of Lords Economic Affairs Committee produces (usually) just one report a year – on the aspects of the draft Finance Bill that it thinks most warrant scrutiny. This year the sub-committee has decided to focus entirely on Making Tax Digital (MTD) and the draft legislation that will apply to small businesses and residential landlords.

MPs have passed the European Union (Notification of Withdrawal) Bill. While the focus of the debate was on constitutional questions, tax and related issues were occasionally touched on during the proceedings.

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

It may not have been part of the formal budget process, but the stalemate that followed Wednesday’s Labour-led debate on the Scottish Government’s tax and spending proposals for 2017-18 was emblematic of the challenges parliament must overcome if it is to pass a budget bill in time for the new financial year.