Press releases

 


Commenting on today’s Welsh Assembly vote to approve the Welsh Budget for 2019/20, Ritchie Tout, Vice-chair of the CIOT’s Welsh Taxes Technical Committee, said:

The Low Incomes Tax Reform Group is reminding people that the online tax return filing deadline of 31 January 2019 is approaching fast. The advice is because HMRC found that almost half of 2016/17 tax returns were filed in the month of January.1

The Chartered Institute of Taxation (CIOT) welcomes HMRC’s approach to businesses they suspect of breaking the rules on the Diverted Profits Tax (DPT). But the CIOT is concerned that the need for the new facility indicates a tax system that is under strain, and placing increasing burdens on taxpayers.

The Low Incomes Tax Reform Group (LITRG) welcomes a government review of the effects of changes to the offshore time limit rules, to be completed by March 2019. The review also requires a comparison with other time limits, including the loan charge, but will not necessarily lead to any changes to the law relating to the loan charge and its application from 5 April 2019. This has led a concerned LITRG to continue to urge low-paid workers potentially affected by the charge to contact HMRC, saying it is important that they do not decline to come forward because of exaggerated expectations of what may come out of the review.1

The Chartered Institute of Taxation (CIOT) congratulates the latest recipient of a CIOT Honorary Fellowship.

The Low Incomes Tax Reform Group (LITRG) is urging low-paid workers affected by the 2019 Loan Charge to consider contacting HMRC to settle, after statistics from the tax authority suggests a worrying lack of engagement and understanding of the Loan Charge among workers.

The Low Incomes Tax Reform Group (LITRG) is urging low-paid workers affected by the 2019 loan charge to consider contacting HMRC about the option to settle – before they lose the chance.

With just over 100 days to go before it becomes compulsory for most VAT registered businesses to keep digital records and file their VAT returns via software, the Low Incomes Tax Reform Group (LITRG) is very concerned that HMRC are yet to publish detailed guidance to explain when someone might be able to claim exemption from the new rules and how they should do this. This will leave some worrying unnecessarily as to how they are going to cope with the new regime and others with very little time to prepare if their application for an exemption is turned down unexpectedly.

The Chartered Institute of Taxation (CIOT) has welcomed the government’s commitment to bring forward detailed proposals on how frameworks for employment rights and tax could be aligned, but has warned that it will be difficult to do this while ruling out changes to national insurance in relation to employment and self-employment.

Commenting on the Scottish Government’s income tax proposals for 2019/2020, Moira Kelly, chair of the CIOT’s Scottish technical committee said: