Press releases

 


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.

This week, the House of Commons approved plans to cut tax credits as part of the planned reductions to the welfare budget. The table enables people who claim working tax credits and child tax credits to measure the financial impact of the changes. LITRG’s simple table is reproduced below. If you are having difficulty reading the table, click on the link here, which will take you to the article on the LITRG website.

The Chartered Institute of Taxation (CIOT) has criticised proposals by the Ministry of Justice to introduce fees for taxpayers wishing to take disputes - appealing a penalty notice for example - with HMRC to tribunal1. The Institute is arguing that an obligatory fee for cases to be heard in the First-tier Tribunal (FTT) Tax Chamber and Upper Tribunal (UT) Tax Chamber will adversely affect access to justice and is wrong in principle.

The Chartered Institute of Taxation (CIOT) has appointed a former President of the Institute, John Cullinane, as the organisation’s new Tax Policy Director; he has assumed the post with immediate effect.

The Chartered Institute of Taxation (CIOT) has called for an effective publicity campaign when the announcement of a Scottish Rate of Income Tax (SRIT) is made(1), to ensure that employers and taxpayers are not adversely affected(2).

Students of the ADIT (Advanced Diploma in International Taxation) qualification, who sat exams in a record 42 countries and territories, will today receive their results. A number of awards and distinctions have been announced by the qualification’s parent body, the Chartered Institute of Taxation (CIOT).