Chartered Institute of Taxation News
The Chartered Institute of Taxation (CIOT) has welcomed figures published today (Thurs) showing that the ‘tax gap’ has fallen by a third in five years.1 But the CIOT has warned that the complexity of the tax system means taxpayer error is likely to remain high going forward, and that tax lost to non-payment due to business failure could be set to rise as a result of the current recession caused by COVID-19.
Thu, 09 Jul 2020 17:19
The Chartered Institute of Taxation has commented on the Scottish Government's plans to increase the threshold for Land and Buildings Transaction Tax (LBTT) from £145,000 to £250,000.
Thu, 09 Jul 2020 15:54
The Chartered Institute of Taxation (CIOT) has commented on today’s government announcements of a Job Retention Bonus and temporary cut in Stamp Duty Land Tax.
Wed, 08 Jul 2020 14:53
Replicating the chancellor’s plans to cut stamp duty land tax could result in more than 90 per cent of Scottish house sales being tax free but could drastically cut Land and Buildings Transaction Tax (LBTT) receipts, the Chartered Institute of Taxation (CIOT) has suggested.
Wed, 08 Jul 2020 14:46
HMRC have written to around one million tax credit claimants after omitting important income figures from their renewal notices.1 LITRG advises all tax credit claimants to check their paperwork carefully and are urging HMRC to use the full extent of their powers to correct any issues that may arise later due to this glitch.
Wed, 01 Jul 2020 09:17
The Low Incomes Tax Reform Group (LITRG) is encouraging self-employed people impacted by COVID-19 to double-check whether they are entitled to the first round of the Government’s Self-Employment Income Support Scheme (SEISS) grant before the claim window closes on 13 July.1
Tue, 30 Jun 2020 13:17
The Chartered Institute of Taxation (CIOT) has announced that it has licensed The Taxation Institute of Hong Kong (TIHK) to grant the designation ‘Chartered Tax Adviser’ to its members as the next step in developing the Chartered Tax Adviser (CTA) brand as a leading international standard in tax.
Fri, 12 Jun 2020 01:30