News

‘Tax Gap’ figures published yesterday show the gap at a record high in cash terms but a record low as a share of the tax that should be collected. The most visible trends are a rising amount lost to non-payment due to corporate insolvencies, and big revisions upwards in corporation tax non-compliance by small businesses.

A proposed tax on greenhouse gases produced in the manufacture of energy intensive goods imported to the UK needs careful design.

HMRC could have missed out on millions of pounds in tax from football transfers, says the Chartered Institute of Taxation (CIOT).

Requiring tax practitioners to sign up to a professional body will help tackle the practices of rogue advisers in the market, but is not a “silver bullet”, the Chartered Institute of Taxation (CIOT) has warned.

The general election campaign is an opportunity to improve public understanding of tax, and the Chartered Institute of Taxation (CIOT) will play a part in this, says the Institute’s new President Charlotte Barbour.

Any party serious about improving economic growth and productivity should be making the administration of the tax system a key part of its general election platform, says the Chartered Institute of Taxation (CIOT).

The leading UK accountancy and tax bodies have welcomed the publication on 17 May of an updated HMRC Standard for Agents.

The Low Incomes Tax Reform Group (LITRG) has been honoured with a prestigious tax award.

The Low Incomes Tax Reform Group has urged young people to use a free HMRC tool to check if they have a Child Trust Fund (CTF), following concerns that some firms could be charging hundreds of pounds to trace and help withdraw the value of the fund.

Aligning rules and requirements across different taxes could reduce complexity and administrative burdens for taxpayers, agents and HMRC, says the Chartered Institute of Taxation (CIOT).