Press releases

 


It was announced in today’s Budget1 that a new interactive tool will be available in the summer to help the self-employed understand their tax position by providing specific information for their business. LITRG considers online tools that aim to help users make tax-related decisions helpful, provided they are implemented wisely and that they supplement, rather than replace, existing guidance.

The Chartered Institute of Taxation (CIOT) welcomes the announcement today that the government will publish an evaluation of the introduction of Making Tax Digital (MTD) for VAT along with related research, with the implication that this will be done before rolling out MTD to other taxes.

The Chartered Institute of Taxation welcomes the Chancellor’s announcement that the ‘threshold income’ for triggering the rules on tapering of the pensions tax annual allowance will be increased from £110,000 to £200,000 with effect from 6 April 2020. 

The Chartered Institute of Taxation (CIOT) welcomes today’s Budget announcement that the government will introduce a new way for importers to account for import VAT from 1 January 2021.

The Low Incomes Tax Reform Group (LITRG) welcomes today’s Budget announcement1 to publish a call for evidence to review the options to address pensions inequality for low-income workers, as promised in the government’s manifesto.This ‘flaw’ means that around 1.7 million people on low incomes (mostly women) are being unfairly charged 25 per cent more for their pension contributions due to the way their employers’ pensions schemes operate.

Today’s UK Budget has confirmed the income tax differences between Scotland and the rest of the UK for the coming year.

LITRG is urging people to contact HMRC before 6 April 2020 to obtain the maximum benefit from the Marriage Allowance.

MSPs can’t rule out the prospect of making further changes to income tax before the start of the new tax year, despite today’s vote to approve Scotland’s proposed income tax regime for 2020/21.

Ahead of next week’s Budget, the Chartered Institute of Taxation has joined the Institute for Fiscal Studies and Institute for Government in writing a joint letter to the new Chancellor, Rishi Sunak.

The CIOT is delighted to announce the latest successful ADIT (Advanced Diploma in International Taxation) graduates and prizewinners, following the December 2019 examinations. Recognising ADIT’s growing profile across the international tax profession, 2019 saw both a record number of new students registering onto the qualification and a record number of exam sittings.