In the news: March 2022

‘Half a million Scots will pay a staggering 54.25% on wages from April, it has emerged... John Cullinane, the CIOT’s director of public policy, said: “Any benefit resulting from the Scottish Government’s income tax changes in the coming year will be offset by the UK-wide changes to National Insurance that will take effect at the same time.”’

The Sun (Scottish edition), 3 February 2022, was among the media outlets covering our comments on tax in Scotland during February.

‘LITRG warns leaving filing your tax return until the last minute risks a late filing penalty if something unforeseen happens to prevent you from filing on or before 28 February.’

Victoria Todd, Head of LITRG, quoted on BBC News Online, 24 February 2022.

‘Helen Thornley at the Association of Taxation Technicians told Yahoo Finance UK that the penalties for those that fail to adhere to the [crypto transaction] rules will “depend on various factors, such as how much tax has been underdeclared and how cooperative the taxpayer has been”.’

Yahoo! Finance, 4 March 2022.

‘The CIOT says that if the goal of the [economic crime] bill is to reveal the real identities of foreigners who own UK property, it will not achieve this.’

Financial Times, 9 March 2022, reporting on CIOT’s warning that individuals owning UK property can still hide their true identities through nominee agreements with professional services firms.