Press releases

 


The Chartered Institute of Taxation (CIOT) is warning the government that constant tinkering with ‘left field’ changes to tax rates and allowances undermines the consistency and predictability that taxpayers and businesses crave – and risks reducing international competitiveness, even where the substantive changes are intended to increase it. The note of caution comes as a number of changes to allowances for business are quietly working their way through Parliament in Finance (No.3) Bill.

The Chartered Institute of Taxation (CIOT) has welcomed a parliamentary report published today which calls for stronger safeguards against misuse of HMRC powers.

The Low Incomes Tax Reform Group (LITRG) has welcomed the recommendations of a critical House of Lords Economic Affairs Committee report titled Making Tax Digital for VAT: Treating Small Businesses Fairly, published today. LITRG says too many taxpayers are still in the dark about this compulsory switch to digital record keeping and reporting of VAT due to begin in April 2019.

The CIOT and ATT share many of the doubts about the potential increase in the tax take and business readiness for Making Tax Digital that are expressed in a House of Lords Economic Affairs Committee report titled Making Tax Digital for VAT: Treating Small Businesses Fairly, published today – and back the report’s call for a delay to the scheme.

The CIOT is pleased to announce the launch of a new module on international tax and the banking industry, as part of its ADIT qualification.

The Chartered Institute of Taxation has welcomed the publication of a new Finance Bill1 today, but criticised the number of measures in the Bill not previously consulted on, and the apparent timetable for the Bill’s passage through Parliament, which it believes will harm scrutiny of the Bill.

The Chartered Institute of Taxation has criticised last week’s Budget for the number of tax measures announced as ‘done deals’ without having been consulted on, and for excessive ‘tinkering’.

The Low Incomes Tax Reform Group (LITRG) has cautiously welcomed the Government’s response to the recommendations made by the Social Security Advisory Committee (SSAC) on moving claimants to Universal Credit from tax credits and other working age benefits. However, a number of concerns remain and LITRG calls on the Government to stop existing benefit claimants moving across to Universal Credit until the migration process is more fully developed and all claimants can be given transitional protection. 

A new report on large-scale housebuilding misses the significance of tax barriers in putting landowners off ‘land pooling’, says the Chartered Institute of Taxation (CIOT).

The Chartered Institute of Taxation (CIOT) is disappointed by the news that reforms to HMRC’s penalty regimes are to be further delayed.