In the news: November 2024

‘Christopher Thorpe, technical officer for the Chartered Institute of Taxation, said a potential 40% to 45% tax on carried interest would be a lot higher than rates in Germany, France and Spain, which “risks causing distortions in the market”.’

‘The i’ on capital gains tax changes, 11 September

‘It’s important that anyone affected is aware of the workaround. Otherwise, they will end up overpaying their student loan and have to wait for HMRC to contact them to arrange a refund.’

ATT technical officer Helen Thornley in the Daily Mirror on student loan overcharges, 15 September

‘There could be “chaos and confusion” as HMRC has allegedly failed to do enough to make online sellers aware they may need to start filing a tax return, claims the Low Incomes Tax Reform Group.’

The Daily Mail on reporting rules for online selling platforms, 18 September

‘Tax claims agents are unregulated and the campaign body the LITRG says that unscrupulous firms may be obtaining taxpayers’ personal information, including signatures, from PPI claims management firms and recycling it to submit new claims without the individuals’ knowledge.’

The Guardian on tax rebate claims, 30 September

‘If the government really doesn’t want unintended consequences of it impacting certain young people … that needs to be captured and there needs to be an exclusion. If the government had provided a full list, institutions that are not on the list would know they were not affected.’

CIOT technical officer Jayne Simpson in the Daily Telegraph, in response to concerns that the draft legislation on VAT for private schools could inadvertently force universities to levy 20% VAT on tuition fees, 1 October

‘The proposed commencement date of 1January does not give sufficient time for schools or HMRC to adequately prepare and deliver the proposed changes. Commencing part way through an academic year could also introduce additional difficulties for schools and pupils.’

The ATT in the Observer on the implementation of VAT on private schools, 6 October.