In the news: April 2022

Key Points

‘“For the sufficiently determined owner of a UK property who wants to remain anonymous, we think the Act leaves loopholes,” says George Crozier, spokesman for the Chartered Institute of Taxation.’

BBC home and legal correspondent Dominic Casciani drew attention to CIOT concerns in a BBC News Online article about the Economic Crime Act, 16 March 2022

‘The ATT says up to one million trusts may have to register with HMRC under new rules, while currently only those with a tax liability are required to.’

Financial Times, 22 March 2022

‘The Chartered Institute of Taxation warned Mr Sunak’s move [to cut income tax in 2024] could lead to further future divergence between the income tax regimes north and south of the border.’

The Scotsman, 24 March 2022, was one of a number of Scottish publications highlighting CIOT comments on the implications for Scotland of tax announcements made in the Spring Statement.

‘There are two national insurance changes – a rate change and a threshold change later in the year – the interaction of which is likely to confuse taxpayers.’

Helen Thornley, Technical Officer at ATT, appeared on BBC Radio 5 Live’s Wake Up to Money, explaining the detail of the NICs changes, 6 April 2022

‘Capital gains tax is a tax on the profit when you sell, or dispose of something, such as an asset that has increased in value. LITRG explains how taxpayers should report their capital gains on its website.’

Daily Express, 7 April 2022