CIOT / ATT Joint Membership

Professional Skills

CIOT ATT joint membership advert December 2020

Also in this edition

Modernisation of stamp taxes on shares framework: CIOT response

1 December 2020

Business rates review: CIOT response

1 December 2020

House of Lords Finance Bill Sub-Committee inquiry into the draft Finance Bill 2020-21

1 December 2020

Tax commandments for business

1 December 2020

Jo Maughan asks what you can do to nurture your mental health to survive, even thrive, this December

I’m sitting at my red, shiny-topped desk feeling fed up. I look at the bright postcard of the blue and yellow tiled villa in Barcelona next to my screen. No change. I go downstairs and make myself a proper coffee – black, americano. I sit on my grey sofa to drink it. No change. I go upstairs to print out my seven page report to review, and start to read it from the sofa. No change. I still feel glum, fed up and frustrated with Covid-19. You? Many of my coaching clients are feeling variously lonely, depressed, frustrated, sad and despondent, even though Christmas is coming.

Keith Gordon looks at a case which concerns the interaction of the high income child benefit charge and the discovery provisions

One of my earliest tax memories was the announcement in the 1988 Budget concerning the proposed introduction of ‘independent taxation’ of married women, to come into effect from 6 April 1990. More than three decades later, it probably seems inconceivable to many advisers that married couples had to combine their income for tax purposes (and, perhaps, even more so, that the wife was far from an equal partner in the relationship so far as the former Inland Revenue was concerned).

As anachronistic as it might sound, it should be recalled that dependent taxation is not completely confined to history. Those who advise on social security benefits will be aware that household income remains an important feature.

Sharron West explains how HMRC can help taxpayers to manage their liabilities during Covid-19

During these unprecedented times, many individuals and small businesses are suffering financially due to the Covid-19 pandemic, with less or no income, ongoing expenses, and some facing responsibilities for employees. Consequently, many taxpayers may be worrying about how they are going to be able to pay tax liabilities that will become due in the early part of 2021.

It has always been advisable to contact HMRC as soon as possible if there is a difficulty meeting a tax bill. HMRC often allows taxpayers to clear their tax bill by making regular payments over an agreed period of time, tailored to their specific circumstances. This is known as a ‘time to pay’ (TTP) arrangement.

Meg Saksida reviews the changes being made to main residence relief and the benefits that may be available to homeowners

On 22 July this year, Chancellor of the Exchequer Rishi Sunak delivered his first budget, making several changes to the capital gains taxation (CGT) of main residences, predicted to generate £50 million in revenue in 2020/21 alone, and up to £150 million by 2023/24. The changes came into force on 6 April 2020.

Changes are being made to ensure that the benefit of the main residence relief lies with the owner occupiers of the homes rather than the owners. It was felt that in the past the benefits were more advantageous to taxpayers who were not occupying the homes these benefits derived from, particularly with reliefs such as lettings relief and the final period exemption of 18 months (36 months prior to 2014).

With the UK committed to a 100% net reduction in greenhouse emissions by 2050, Jason Collins and Lauren Redhead consider the future of environmental taxation

Wherever you might sit in the spectrum of views on climate change, the UK has legally committed itself to reaching a 100% reduction in net greenhouse gas emissions by 2050, using 1990 as the baseline. This article looks at the role the tax system may have to play in meeting that target. The government has committed to a ‘clean, green recovery’ from the coronavirus pandemic in terms of government stimulus. For many, it is clear that taxes are also going to have to rise to pay for the sums expended on supporting people during the pandemic. Should the government ensure that such rises have a twin aim of meeting the 2050 target?

In his second article, Neil Warren considers practical VAT issues that will apply from 1 January 2021 when the UK’s transitional deal ends with the EU, focusing on goods involving overseas sellers and online marketplaces

What will be the significance of a shipment of goods that arrives in GB from 1 January 2021 that has a value of less than £135? The answer is that the goods will be subject to ‘sales VAT’ from this date, rather than ‘import VAT', if they are being imported by an overseas seller. This is a major change in procedures, and there are some tricky twists and turns to consider. The VAT issues will also affect the buyers of the goods, as well as online marketplaces from which overseas sellers advertise their goods in many cases.

Bill Dodwell considers the Office of Tax Simplification’s first report on its capital gains tax review

The Office of Tax Simplification published its first report on its capital gains tax review, ‘Simplifying by design’ on 11 November. The report arrived four months after the chancellor’s request to ‘identify opportunities relating to administrative and technical issues, as well as areas where the present rules can distort behaviour or do not meet their policy intent’. This report looks at policy design and principles and, in particular, at distortions in the system of taxing capital gains.

CIOT and ATT are conducting a membership survey on Tax Adviser and our weekly technical news service. Please share your views with us!

Tax Adviser magazine and our weekly technical news service emails (CIOT News Service for CTAs and News service for ATTs), are two of the key benefits of membership.

Tax Adviser is produced on a monthly basis, and sent to members each month as a physical magazine. Most of the magazine’s content is also reproduced on taxadvisermagazine.com, with content dating back over five years, along with job vacancies and ad hoc online only content.

The weekly technical news service is sent by email every Friday. It contains technical news from the CIOT and ATT, as well as feature articles and tax updates by specialism.

Search form

Search form

Search form

CIOT / ATT Joint Membership

Modernisation of stamp taxes on shares framework: CIOT response

Business rates review: CIOT response

House of Lords Finance Bill Sub-Committee inquiry into the draft Finance Bill 2020-21

Tax commandments for business