Political update: February 2024
CIOT, ATT and LITRG work with politicians from all parties in pursuit of better informed tax policy making
CIOT, ATT and LITRG have together produced 12 briefings for MPs scrutinising the current Finance Bill, which have already been extensively cited during debate. March Tax Adviser will carry a full report on the Bill’s passage and the bodies’ input into proceedings.
CIOT evidence was also highlighted during a debate on the short National Insurance Contributions (Reduction in Rates) Bill in November, with CIOT’s points being raised by the shadow minister on implementation costs for business and how ready payroll software would be for the change.
November also saw an appearance by CIOT Deputy President Charlotte Barbour before the Scottish Parliament’s Finance and Public Administration Committee, discussing VAT assignment. Charlotte was one of a number of witnesses to sound a sceptical note on the topic, noting it would bring increased risks and complications for the Scottish Budget, without any ability for the Scottish government to exercise direct control over VAT policy, such as by setting rates and exemptions.
In December, the Scottish Parliament’s Local Government, Housing and Planning Committee’s report on the Transient Visitor Levy (Scotland) Bill made several references to evidence provided by CIOT and called on the Scottish government to respond to points raised by the Institute in respect of the definition of ‘overnight accommodation’.