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One-third of Scots unaware of Holyrood’s tax changes as tax and accountancy bodies call for increased awareness of devolved taxes in new parliament

The Chartered Institute of Taxation (CIOT) and ICAS (the Institute of Chartered Accountants of Scotland) are calling on Scotland’s political parties to improve public awareness of devolved taxation in the next Scottish Parliament, as a new poll shows that a third of Scots are unaware that the Scottish Parliament has made changes to the tax system.

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Scope for specific reforms on taxation of trusts, says CIOT

The Chartered Institute of Taxation (CIOT) is calling for specific reforms to the taxation of trusts despite the Government pulling back from a wholesale review of this area.

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LITRG press release: LITRG report puts ‘umbrella’ companies under the spotlight

The Low Incomes Tax Reform Group (LITRG) today publishes a new research report1 looking at the use of ‘umbrella’ companies and other labour market intermediaries in the UK. The factual and technical report also considers the nature and scale of disguised remuneration schemes. It is intended to help increase public knowledge of how labour market intermediaries work and bolster the evidence base in this under-researched area.

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Two big challenges with bringing forward tax payments, says Tax Institute

Commenting on today’s launch of a call for evidence on Timely Tax Payments, Richard Wild, CIOT Head of Tax Technical, said:

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Fewer families to complete Inheritance tax forms

The Chartered Institute of Taxation (CIOT) has welcomed the announcement today that from 1 January 2022 over 90% of non-taxpaying estates each year will no longer have to complete inheritance tax (IHT) forms for deaths when probate or confirmation is required.

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Tax Day: Welcome review for tax processes, but what about the policy?

The Chartered Institute of Taxation (CIOT) has welcomed the publication of a number of consultations and calls for evidence on the administration of the tax system, but called on the Government to consult further on its plans for future tax policy, including fiscal consolidation, too.

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LITRG press release: Modernisation of the tax system must not leave anyone behind

The Low Incomes Tax Reform Group (LITRG) welcomes HMRC taking steps towards modernising the tax system with today’s publication of two calls for evidence.1 HMRC’s plans aim to capitalise on the opportunities presented by digital advances. This may be advantageous in many ways but LITRG urges caution to ensure that no-one is left behind.

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LITRG Press release: LITRG welcomes HMRC approach on preventing offshore tax non-compliance

The Low Incomes Tax Reform Group (LITRG) welcomes today’s publication of HMRC’s discussion document Helping taxpayers get offshore tax right.1 The document recognises that taxpayers who have not correctly reported their offshore income and gains to HMRC might not have done so deliberately, and for a host of different reasons. HMRC are looking specifically at how they can assist these taxpayers by intelligently using data provided under information exchange agreements and providing better guidance.

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New digital tax reporting rules for companies should be better targeted

The Chartered Institute of Taxation (CIOT) is concerned that the Government’s proposal for companies to keep digital records and provide regular updates to HMRC through software may fail to meet its policy objectives – and is likely to prove very costly for businesses to implement.

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Students from Botswana to Latvia celebrate ADIT exam results

The Chartered Institute of Taxation (CIOT) is delighted to announce a record-breaking cohort of successful ADIT (Advanced Diploma in International Taxation) graduates and award winners, after the December 2020 examinations. All the December exams were delivered remotely using online exam software, to students in more countries than ever before.

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