Management of taxes

Technical

The CIOT, ATT and LITRG have responded to consultations on the draft Finance Bill 2018-19 Clauses and Schedules in respect of penalties and interest.

Technical
1 September 2018

There is an error in HMRC’s 2017/18 self-assessment (SA) tax calculation in respect of Scottish taxpayers who are taxable on the remittance basis, so that the main UK tax rates, rather than the Scottish rate of income tax (SRIT), is applied in the 2017/18 SA tax calculation, for any remittance basis Scottish taxpayers. The result is that the tax on income subject to the SRIT is being understated. The error has been recognised by HMRC and an SA online filing exclusion created.

Technical
1 September 2018

CIOT webinar on Requirement to Correct is still available, alongside the webinar slides and Q&As from the questions received during the webinar.

Technical
1 September 2018

HMRC has been holding a number of co-design workshops to seek feedback on the design of a new ‘front door’ to HMRC online services.

Technical
1 August 2018

The CIOT requests feedback on issues with tax codes experienced by Scottish taxpayers and the LITRG reports back on a Scottish government meeting on the Carer’s Allowance Supplement.

Technical

CIOT, LITRG and ATT all responded to the consultation on proposals to extend the existing security deposit legislation and the discussion document exploring ways to tackle abuse of the insolvency regime to avoid or evade tax liabilities, including through the use of phoenixism, noting the interconnection between the two proposals

Technical

The CIOT, LITRG and ATT have responded to the Treasury Committee’s wide-ranging Inquiry into VAT and its Sub-Committee’s Inquiry into The conduct of tax enquiries and the resolution of tax disputes. In addition to our written responses we have also given oral evidence to the Committees

Technical
1 August 2018

At the time of writing (early July), there is only one new development to report on the MTD front since our update piece in June’s Technical Newsdesk: the draft legislation to deal with penalties for failing to make returns, penalties for late payment, and the way that interest is charged and repaid for VAT was published on 6 July 2018.

Technical

The ATT and CIOT have responded to an HMRC consultation on the requirement for individuals and trustees to make a payment on account of CGT on the disposal of a residential property. The payment on account, together with a payment on account return, will be required within 30 days of completion.

Technical

The CIOT has responded to both recent Inquiries established by the Treasury Sub-Committee, and LITRG responded to the second Inquiry. Our written responses will be published on our websites once an order to be published has been made by the Sub-Committee. We may also be called to provide oral evidence to the Sub-Committee in due course.