Press releases

 


The Chartered Institute of Taxation (CIOT) has welcomed the Chancellor’s invitation to the Office of Tax Simplification (OTS) to carry out a review of inheritance tax.

The Low Incomes Tax Reform Group (LITRG) is strongly urging taxpayers who miss the Self Assessment filing deadline on Wednesday (31 January) but who have a reasonable excuse for the delay, to challenge their penalties for late filing without delay.

The Government’s decision to hastily redraft UK Customs law ahead of Brexit will lead to unnecessary uncertainty for business and runs counter to the Government’s stated policy of simply incorporating existing EU law into UK law ahead of our departure from the EU, argues the Chartered Institute of Taxation (CIOT).

While the 31 January 2018 deadline for submitting your 2016/17 tax return and paying your tax bill is well known, the experience of the Low Incomes Tax Reform Group (LITRG) is that many newcomers to Self-Assessment fail to realise they may have to pay some money in advance towards their next tax bill on that day, too.

Responding to the Public Accounts Committee’s Report on HMRC’s performance in 2016-17, John Cullinane, CIOT Tax Policy Director, said:

The Chartered Institute of Taxation (CIOT) is calling for revisions to a new government scheme to tackle VAT evasion, so that those who make administrative errors, but are not accused of involvement in tax evasion, are not penalised with swingeing fines.

Anthony Thomas, Paul Johnson and Professor Michael Devereux have been honoured for their outstanding contributions to the field of taxation by the Chartered Institute of Taxation (CIOT).

Tax professionals have cautioned that plans to restructure Scottish income tax will introduce additional complexities for Scottish taxpayers, while warning that today’s measures should not be considered in isolation from the wider UK tax and benefits regime. 

The Chartered Institute of Taxation (CIOT) is pleased that its concerns about the fairness of penalties for filing late under Making Tax Digital (MTD) will be addressed by HMRC, particularly that penalty points will have a ‘shelf life’ and will therefore expire after a period of good compliance.

The Low Incomes Tax Reform Group (LITRG) broadly welcomes the Government’s ambition to see more disabled people in work, but is hugely disappointed that it has not taken the opportunity to explore tax reliefs and other changes to tax rules and practice that could help support more disabled people into work and help those already in work to stay in work.