Press releases

 


The Chartered Institute of Taxation (CIOT) has announced that it has licensed The Taxation Institute of Hong Kong (TIHK) to grant the designation ‘Chartered Tax Adviser’ to its members as the next step in developing the Chartered Tax Adviser (CTA) brand as a leading international standard in tax.

The Low Incomes Tax Reform Group (LITRG) is concerned that recipients of the Government’s Self-Employed Income Support Scheme (SEISS) grant1 might not realise that it is taxable. It has led LITRG to warn that, for many, a third of the grant might have to be ‘paid back’, in tax and Class 4 National Insurance (NIC).

The Chartered Institute of Taxation (CIOT) welcomes that construction businesses will get an extra five months to prepare for a major change in accounting for VAT, because of the impact of COVID-19.1 Without a delay there was a risk this major tax change risks hitting SMEs the hardest at a time when they need to protect jobs and livelihoods.

A concerned CIOT is calling for greater scrutiny and debate about the Government’s plans to curb Entrepreneurs’ Relief (to be re-badged ‘business asset disposal relief’), ahead of the committee stage of the Finance Bill on Thursday (June 4). The media was full of comments from friends and enemies of Entrepreneurs’ Relief in the weeks leading to March’s Budget but there was no formal public consultation, to the disappointment of the CIOT.

The Chartered Institute of Taxation (CIOT) is asking the Government to consider delaying changes to capital gains tax rules in relation to home sales, to take account of the impact of COVID-19 on the property market.

The Chartered Institute of Taxation (CIOT) welcomes the Public Accounts Committee opening a new inquiry into the UK’s management of ‘tax expenditures’ tax reliefs.1

The Chartered Institute of Taxation’s Low Incomes Tax Reform Group (LITRG) has welcomed the Scottish Government’s £230 bonus payment to carers and stressed that it is important to make sure that carers know this extra money is coming.

The Chartered Institute of Taxation (CIOT) has said the Scottish Government should consider widening access to a temporary scheme extending the time available to claim a refund of its property tax surcharge to include transactions that have taken place during the Coronavirus lockdown.

The Low Incomes Tax Reform Group (LITRG) has added new material to its website expanding its tax and related benefit guidance relating to COVID-19.

The Low Incomes Tax Reform Group (LITRG) has scored a hat trick at the 2020 Tolley’s Taxation Awards. The LITRG Team won the Best Specialist Team in a Public or Not for Profit Organisation award. LITRG Technical Officer Meredith McCammond won the Rising Star award and former LITRG Technical Director (and current volunteer) Robin Williamson MBE won the Lifetime Achievement prize.