Press releases

 


HMRC has today released an ambitious ten year plan for modernising the tax system1, capitalising on the opportunities provided by technological advancement. The Low Incomes Tax Reform Group (LITRG) broadly welcomes the direction of travel, but urges HMRC to ensure that no-one is left behind in the move to an ever more digital system.

HMRC has announced1 that, from April 2023, self-employed businesses and landlords with turnover above £10,000 per year will be required to keep digital records and submit income tax updates every three months instead of filing annual self-assessment tax returns.

The Low Incomes Tax Reform Group (LITRG) is urging HMRC to make effective use of the next three years, running full pilots and supporting taxpayers in making the transition to the new system.

Commenting on the publication today of draft legislation and a consultation document on tackling promoters and enablers of tax avoidance schemes, CIOT Tax Policy Director John Cullinane said:

The Chartered Institute of Taxation (CIOT) has welcomed the launch of a fundamental review of Business Rates in England. The Government published a call for evidence today following an initial announcement at Budget 2020.

The Chartered Institute of Taxation (CIOT) is warning that a new Stamp Duty Land Tax (SDLT) surcharge on non-UK residents purchasing residential property in England and Northern Ireland will add further complexity to an already highly complicated SDLT regime which applies to purchases of residential property.

The ATT and CIOT welcome the clarity brought about by today’s announcements around Making Tax Digital, finally ending the speculation about its extension to income tax, but warn that tensions around compliance costs will remain.

The Low Incomes Tax Reform Group (LITRG) has welcomed today’s publication of a Call for Evidence on pensions tax relief administration,1 describing it as a chance to finally end the injustice that means that around 1.75 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.

The Low Incomes Tax Reform Group (LITRG) welcomes today’s Public Accounts Committee report on the management of tax reliefs1 which highlights an issue affecting a significant number of low-paid workers who miss out on tax relief on their pension contributions.2

Responding to today’s (20 July) Public Accounts Committee report on Management of Tax Reliefs, CIOT Tax Policy Director John Cullinane has called for a programme of systematic review of tax reliefs to be put in place urgently, to ensure all reliefs are delivering value-for-money.

The Chartered Institute of Taxation (CIOT) has welcomed figures published today (Thurs) showing that the ‘tax gap’ has fallen by a third in five years.1 But the CIOT has warned that the complexity of the tax system means taxpayer error is likely to remain high going forward, and that tax lost to non-payment due to business failure could be set to rise as a result of the current recession caused by COVID-19.