Press releases

 


The Low Incomes Tax Reform Group (LITRG) is reminding couples that they have until this time next year (5 April 2020) to claim marriage allowance refunds dating back to the first tax year of the allowance, 2015/16.

From today, an estimated half a million1 VAT registered businesses must comply with the requirements of Making Tax Digital. But the CIOT and ATT are warning businesses against making a false start with Making Tax Digital by signing up too early – the consequences of which can be hugely problematic for them and HMRC.

The Chartered Institute of Taxation (CIOT) has announced the appointment of Jane Brothwood and Quinton Quayle as new Lay Public Interest Observers of the Institute’s Council.

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 The Institute wants the DST repealed as soon as there is a multilateral agreement through the OECD on a global method to tax such companies on the value created by users.