Press releases

 


The Chartered Institute of Taxation (CIOT) is urging new Chancellor Rishi Sunak to do more to monitor and evaluate £155 billion a year of the UK’s tax reliefs.

This press release is written on behalf of the Taxation Disciplinary Board

The Taxation Disciplinary Board (TDB), the independent body that is responsible for running the complaints and disciplinary scheme for the Chartered Institute of Taxation (CIOT) and the Association of Taxation Technicians (ATT), is pleased to announce the appointment of Susan Humble as its new Chair.

Today’s Scottish Budget means that higher earners will continue to pay more in tax than their counterparts elsewhere in the UK, while lower earners continue to be slightly better off north of the border.

People have the right to challenge penalties given by HMRC for missing today’s Self Assessment tax return deadline, says the Low Incomes Tax Reform Group (LITRG).

HMRC say a glitch in their system that omitted Marriage Allowance claims from people’s Self Assessment tax calculations is fixed. Now LITRG is urging people who filed their 2018/19 tax return before 21 January using HMRC’s online system to check their calculation to ensure the Marriage Allowance claim was included in order that they do not overpay tax.

  • Nearly 90 per cent of respondents say that MTD for VAT has not reduced errors
  • The costs of MTD compliance have far exceeded government estimates
  • Just 14 per cent of respondents say there has been an increase in productivity in their organisation as a result of MTD for VAT

Results of a survey conducted by the CIOT and ATT about Making Tax Digital (MTD) strengthens the tax bodies’ shared view that the MTD project is far from achieving its goals. The survey results have led the two organisations to call jointly for a comprehensive review of the roll out of MTD for VAT before HMRC goes ahead with plans to roll out digital reporting obligations more widely.

The CIOT is alerting property owners with taxable gains on their residential properties to plan for a ‘seismic change’ in how tax is paid.

LITRG is urging people to complete their 2018/19 Self Assessment tax return online before 31 January 20201 or risk a fine from HMRC. HMRC charge an automatic penalty of £100 for tax returns that miss the 31 January deadline – and the penalties increase the longer you delay the submission of the tax return.2 LITRG is also highlighting that people who face the loan charge/or who are in the process of ‘settling’ their use of loan arrangements, are allowed to defer filing their returns until September 2020.

Responding to the Government’s announcement today (7 January) of a review of the proposed April 2020 changes to off-payroll working to address concerns from businesses and contractors about how they will be implemented, Colin Ben-Nathan, Chair of CIOT’s Employment Taxes Sub-committee, said:

Commenting on the tax implications for Scotland of an 11 March UK Budget date, Alexander Garden, chair of the Chartered Institute of Taxation’s Scottish Technical Committee, said: