Press releases

 


Following an announcement in the Autumn Statement, a consultation has today been published on reducing the pensions ‘money purchase annual allowance’ from £10,000 to £4,000.

The Low Incomes Tax Reform Group (LITRG) has given a cautious welcome to measures in today’s Autumn Statement aimed at those on low incomes.

The Chartered Institute of Taxation (CIOT) has welcomed today’s announcement of a review into Research and Development (R&D) tax credits, but has stressed that the review must be wide-ranging if the R&D framework is to work effectively for small businesses.

The Chartered Institute of Taxation (CIOT) has welcomed the Chancellor’s confirmation that he will stick with the plans he inherited for corporation tax. But some of the adverse changes still create unexpected costs for business, and the pace adds to the risks of business uncertainty at the current time.

The Chartered Institute of Taxation (CIOT) has welcomed the Chancellor’s announcement that the Government will be reverting to a single annual fiscal event.

The tax implications for Scotland of leaving the EU are ‘detailed and complex’ and could have significant consequences for Scottish businesses and taxpayers, the body representing the country’s tax professionals has warned MSPs.

The Chartered Institute of Taxation (CIOT) has welcomed the further work done by the OTS in support of its call for National Insurance contributions (NICs) and income tax to be more closely aligned.

The LITRG has welcomed the Office of Tax Simplification’s call to bring National Insurance contributions (NICs) and income tax closer together but has suggested the Government may need to give financial support to some taxpayers in the transition.

The LITRG is calling for an urgent review of the tax credits compliance process.

The approach of Brexit should hasten efforts to create an economy in Northern Ireland that can better compete with remaining EU member states, especially the Republic of Ireland, by going beyond just cutting corporation tax, says the Chairman of the NI branch of the Chartered Institute of Taxation.