Press releases

 


The Chartered Institute of Taxation (CIOT) has welcomed the news that HM Revenue and Customs (HMRC) are to scrap Business Record Checks.

The Chartered Institute of Taxation (CIOT) is calling on the Government to confirm whether it still intends to go ahead with plans to introduce a new corporate criminal offence of failure to prevent the facilitation of evasion.

The Chartered Institute of Taxation (CIOT) has criticised the Government’s plan to proceed with a criminal offence of failing to declare offshore taxable income or gains that threatens people with a prison sentence of up to six months – even if there is no intent to cheat the system.

The Low Incomes Tax Reform Group (LITRG) has welcomed the publication of a government amendment to the Finance Bill today which will help protect vulnerable taxpayers who HMRC believe owe them money.

The LITRG is calling on HMRC not to pursue individual workers for underpayments arising from their involvement in arrangements between engagers of their labour and intermediaries, such as umbrella companies.

The Low Incomes Tax Reform Group (LITRG) has welcomed the publication of a government amendment to the Finance Bill today which will help protect vulnerable taxpayers who HMRC believe owe them money.

The G20/OECD project on Base Erosion and Profit Shifting (BEPS) will publish its final reports on Monday 5 October.

Tax advisers are concerned that government proposals for the reform of taxation of ‘non-doms’ could lead to an unfair result for those born in the UK who live most of their life abroad but return for a short period.

The LITRG has called for all savings income to be paid without deduction of tax at source when the new Personal Savings Allowance (PSA) is introduced next year. This would automatically give the correct tax due in the majority of cases, which would be welcome for both unrepresented taxpayers and HMRC, for whom it would reduce administration.

The results from the latest group of students to sit the joint CIOT ICAEW Taxation of Major Corporates (TOMC) exam show an increase in the pass rate to 76 percent.