Ciot

The start of the 2024/25 tax year tomorrow will mean further income tax divergence for Scottish taxpayers, however UK-wide National Insurance changes will mean an increase in the take home pay of Scots earning up to £112,900 compared with the tax year about to end, the Chartered Institute of

Ahead of today's Scottish Budget, the Chartered Institute of Taxation (CIOT) and Institute of Chartered Accountants of Scotland (ICAS) have called on the Scottish and UK governments to use the tenth anniversary of the Smith Commission next year to review the implementation of Scotland’s devol

The Chartered Institute of Taxation (CIOT) has voiced continued concerns over HMRC's approach to managing research and development (R&D) tax relief compliance.

Tax experts have voiced concern following an HMRC announcement that its self-assessment helpline and dedicated agent line will focus on "priority queries" in the run-up to the filing deadline. Customers with "queries that can be quickly and easily resolved online" will be directed to use HMRC's onli

“Rigorous” rules are required to prevent the exploitation of Employee-Ownership Trust (EOT) tax benefits, says the Chartered Institute of Taxation (CIOT). EOTs, along with EBTs (Employee Benefit Trusts), are government initiatives which allow business owners the opportunity to sell their

Widespread dissatisfaction regarding HMRC's service levels among both tax agents and taxpayers has been highlighted by a recent survey carried out by the Chartered Institute of Taxation (CIOT). A majority of respondents say that poor service levels make it harder to do business, and that they doubt

The proposed introduction of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) by April 2026 has drawn significant concerns from tax professionals, according to a survey conducted by the Chartered Institute of Taxation (CIOT) and the Association of Taxation Technicians (ATT).

HM Revenue & Customs (HMRC) has disclosed that nearly 25% of the funds provided through a multi-billion-pound tax relief scheme, aimed at spurring research and development (R&D) in small to mid-sized companies, was lost to error and fraud between 2020 and 2021. This figure, marking one of th

The annual report of the HMRC Charter, released today, has revealed that poor service levels are hampering HMRC's ability to achieve its Charter standards, according to the Chartered Institute of Taxation (CIOT) and the Institute of Chartered Accountants of Scotland (ICAS). Both institutions are mem

The Edinburgh Tax Network, in conjunction with CIOT and Terra Firma Chambers, will present a seminar on tax covenants and warranties at the Mackenzie Building, Old Assembly Close, Edinburgh on Thursday 27th April 2023. At this event, Christine Yuill and Nicola Williams of Burness Paull wil

The new Finance Bill published yesterday introduces three new taxes, taking the total number of taxes introduced this century to 24. Apart from two one-off levies, and the Health and Social Care Levy (which was repealed before it came into effect, and is not included in the total above), none of the

The Chartered Institute of Taxation (CIOT) has warned that imminent reduction of the annual exemption for capital gains tax will see hundreds of thousands of people become liable to pay tax they may not even be aware of, and urged the government to publicise the change.

The Chartered Institute of Taxation (CIOT) has urged the government to review “unfair” repayment interest rates, with taxpayers facing late payment bills from HMRC up to 17 times higher than what is returned to those who have overpaid. HMRC generally charges interest on late payment at t

Ahead of this afternoon’s vote to set Scottish Income Tax rates for 2023/24, the Chartered Institute of Taxation (CIOT) has published the results of a new poll suggesting growing confusion over how taxes are decided in Scotland. The CIOT has also published a tax table showing the differences i

The Chartered Institute of Taxation (CIOT) and Association of Taxation Technicians (ATT) are reminding crypto asset investors to include their gains (and losses) in their 2021/22 tax returns as the 31 January deadline looms.