Chartered Institute Of Taxation

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Scottish accountancy firms and financial regulatory bodies have responded to Chancellor Rishi Sunak's Spring Statement announced yesterday. The Chancellor cut fuel duty by 5p per litre, which came into force from 6pm last night and will last until March next year. He also announced that the income t

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Revenue Scotland should have powers to waive a second homes tax in exceptional circumstances and the time available for eligible house buyers to claim a tax rebate when they buy a new main home but their old one is still on the market should be doubled. They are among suggestions put forward by the

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The Chartered Institute of Taxation (CIOT) has warned MPs that a lack of clarity around the purpose of legislation creating a register of overseas entities owning UK property could leave many people disappointed that it will not achieve what they expect it to. Legislation creating the register appea

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Former Prime Minister and Chancellor of the Exchequer Gordon Brown has been honoured for his outstanding contribution to the field of taxation by the Chartered Institute of Taxation (CIOT). Mr Brown has been awarded an Honorary Fellowship of the Institute. This award is a mark of excellence bestowed

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Accountancy firms Johnston Carmichael, PwC, EY and KPMG, have responded to the 2022-2013 Scottish Budget announced by finance secretary Kate Forbes yesterday.  The finance secretary stated that ending Scotland’s contribution to climate change, tackling inequalities and investing in the ec

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The Scottish Government should use next month’s Budget to accelerate their ambition to reform Council Tax if it is going to happen by the time of the next Scottish election, according to the Chartered Institute of Taxation (CIOT). The CIOT has responded to a Scottish Government consultati

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‘Tax Gap’ figures published today by the Chartered Institute of Taxation (CIOT) have revealed the gap increasing in both absolute terms and as a share of the tax that should be collected, after five years when the latter figure fell. The tax gap is the difference between the amount of ta

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Scottish taxpayers will be worse off under UK government plans to increase National Insurance than those in the rest of the UK, the Chartered Institute of Taxation (CIOT) has said. Prime Minister Boris Johnson announced this week that rates of National Insurance will increase by 1.25 per cent from A

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The Scottish business community has largely welcomed Chancellor Rishi Sunak's 'Budget for recovery' which extended the furlough scheme, froze income tax rates for five years and increased corporation tax to 25%. The Chancellor announced that the increase in corporation tax would not take effect

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Ahead of the Scottish Government's vote to agree rates and bands of Scottish Income Tax for the 2021/22 tax year, the Chartered Institute of Taxation (CIOT) has outlined what the changes are likely to mean for Scottish taxpayers. The debate is due to take place following the Stage 1 debate on the Bu

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The Chartered Institute of Taxation (CIOT) has warned that the income tax proposals announced by the finance secretary mean that taxpayers with income of more than £27,393 will pay more than those in other parts of the UK from this April. The CIOT's initial analysis of yesterday's tax proposal

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The Chartered Institute of Taxation’s (CIOT) Low Incomes Tax Reform Group (LITRG) is warning that some of the lowest paid workers stand to benefit the least from the Scottish Government’s new £500 bonus payment to NHS and care workers if the payment is taxed. First Minister Nicola

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