Press releases

 


The Chartered Institute of Taxation (CIOT) has welcomed today’s announcement¹ that construction firms will get an extra year to prepare for a major change in accounting for VAT.

The Low Incomes Tax Reform Group (LITRG) is advising taxpayers to check the accuracy of savings income figures shown in their HMRC PAYE Notices of Coding and tax calculations (P800 forms).

The Chartered Institute of Taxation (CIOT) is delighted to announce that the number of international tax professionals who have achieved ADIT (Advanced Diploma in International Taxation) certification has grown to more than 1,000, after the latest exams took place in June 2019.

Many small and medium size construction firms have not had adequate opportunity to prepare for a major change in accounting for VAT, says a concerned Chartered Institute of Taxation (CIOT). This has led the CIOT to call on HMRC to delay the change by six months.

The Low Incomes Tax Reform Group (LITRG) is urging people to contact HMRC if they have missed the tax credits renewals deadline (31 July). The sooner people contact HMRC then the sooner they can get their tax credit payments re-started – or if they are lucky, they might catch HMRC in time to renew before their payments are stopped.

Commenting on today’s publishing of a Treasury Sub-Committee report called Disputing Tax, John Cullinane, CIOT Tax Policy Director, said:

The Chartered Institute of Taxation has welcomed the announcement1 of a series of measures designed to strengthen public trust in HMRC’s exercise of their statutory powers.

LITRG welcomes the Government’s focus on those who need extra help in a series of measures announced yesterday to strengthen public trust in HMRC.

New legislation published today will make businesses and other organisations responsible for determining the tax status of the contractors they hire through their own companies and ensuring the necessary employment taxes are paid. Tax advisers are warning that unless there are significant improvements to HMRC’s Check Employment Status for Tax (CEST) tool the new rules1 will lead to uncertainty and protracted disputes.

The Chartered Institute of Taxation (CIOT) is urging HMRC to maximise efforts to communicate forthcoming changes to capital gains tax which will introduce new and increase existing tax bills for some home sellers from April 2020.