Press releases

 


The Chartered Institute of Taxation (CIOT) has welcomed the highest ever number of students who have applied to sit exams for its ADIT (Advanced Diploma in International Taxation) qualification.

The Chartered Institute of Taxation (CIOT) has said that allowing the public to see the country by country reporting records of companies operating in the EU is not enough to counter growing global scepticism about the fairness of the tax system.

The Chartered Institute of Taxation (CIOT) has responded to today’s government announcements related to the ‘Panama Papers’.

Tax credit claimants earning over £20,000 may see sharp cuts in payments as HMRC recover overpayments at a higher rate, says a concerned Low Incomes Tax Reform Group. 

The LITRG has welcomed the Budget commitment to explore simplifying the tax rules for businesses, self-employed people and landlords. But it warns the Government against treating those who can engage with HMRC digitally more favourably than those who cannot, unless justifiable on other grounds.   

As announced at Autumn Statement 20151, the government has been considering possible legislation to amend the changes made by Finance Act 2015 to Entrepreneurs’ Relief, in order to support businesses by ensuring that the relief remains available on certain genuine commercial transactions.

Tax advisers have cautiously welcomed changes to taxation of business energy which should reduce complexity in this area.

The Low Incomes Tax Reform Group (LITRG) has welcomed the announcement in today’s Budget of mentoring support for low earning self-employed workers to help them grow their businesses. However LITRG is warning that changes are needed to the financial support that low earning self-employed workers get too.

The Chancellor has announced today in the Budget that having gone up to £11,000 in the tax year beginning 6 April 2016, the personal allowance will rise again to £11,500 in 2017/18. The marriage allowance will increase commensurately to £1,150 in 2017/18. 

The Chartered Institute of Taxation (CIOT) has welcomed today’s announcement that the Government is investing £71 million to make it quicker and easier for individuals and small businesses to deal with HMRC, but says that this investment must lead to an improvement in HMRC’s service standards.