Ciot

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 Apart from two one-off levies, and the Health and Social Care Levy (which was repealed before it came into effect, and is not included in the total above), none of the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.

Tax increases on higher earners in Scotland have entrenched the divergence in income tax regimes north and south of the border, financial experts have said. John Swinney, the deputy first minister and interim finance secretary, yesterday announced an increase in the higher and top rates of income ta

Scottish taxpayers could see the amount they pay in tax go up after the Scottish government publishes its income tax plans in December. Chancellor Jeremy Hunt yesterday used his first Autumn Statement to announce a number of measures aimed at raising an additional £25 billion in tax revenue..

The Chartered Institute of Taxation (CIOT) has responded to the Chancellor’s announcement last week, that the UK basic rate of income tax will be reduced to 19p and the UK additional rate of income tax abolished from April 2023. These changes will not apply to Scotland, where the power to set

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

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