Press releases

 


Commenting on today’s report1 from HM Treasury on time limits in the tax system, which focuses in particular on time limits for tackling offshore non-compliance and the charge on disguised remuneration loans, CIOT President Ray McCann said:

It is just a little over a week until most VAT registered businesses will be required to start complying with the requirements of Making Tax Digital and the ATT and CIOT caution businesses that HMRC’s promised ‘light touch’ on penalties does not extend to the late payment of tax.

The Chartered Institute of Taxation has welcomed the publication of a Scottish Government consultation aimed at improving devolved tax policy making.

The Chartered Institute of Taxation (CIOT) has welcomed the absence of new tax measures in today’s Spring Statement, in line with the government’s commitment to holding just one fiscal event a year. 

Responding to this afternoon’s Written Ministerial Statement on Making Tax Digital (MTD),1 Adrian Rudd, Chair of the joint CIOT/ATT Digitalisation and Agent Strategy Working Group, said:

The Low Incomes Tax Reform Group (LITRG) is warning employers and affected employees that postgraduate loan repayments will start from next month (April). It is important that both parties understand whether there will be further deductions from payslips and, if so, that they are correct.

The Chartered Institute of Taxation (CIOT) advises that the Government’s planned Digital Services Tax (DST) on digital companies should be a temporary measure and ideally last no longer than five years. The Institute wants the DST repealed as soon as there is a multilateral agreement through the OECD on a global method to tax such companies on the value created by users.

The Low Incomes Tax Reform Group (LITRG) is warning VAT registered individuals and businesses they have little time to apply for an exemption from the new digital VAT requirements which begins for some on 1 April 2019. The call comes as HMRC have just issued guidance explaining how people can claim exemption from these new Making Tax Digital for VAT (MTD) requirements.

The Low Incomes Tax Reform Group (LITRG) welcomes the launch of DBEIS’ campaign to raise awareness of holiday pay, and reduce the number of underpaid workers. But LITRG cautions that, to really make a difference, action is needed to close the enforcement ‘gap’ in respect of holiday pay and to deal with the problem of false self-employment.

The potential for a ‘no deal’ Brexit is leading the Chartered Institute of Taxation (CIOT) to urge UK businesses to claim the local VAT incurred in the EU by their staff ahead of Brexit Day. Without a Brexit deal, UK businesses will have to deal with countries individually and use paper forms for each country. That will take longer both to administer and recover the VAT on the expenses.