CIOT welcomes govt approach to tax avoidance

Date: 24th March 2011

Small businesses owners operating in the UK could be among those encouraged by the recent comments of one leading tax body.

The Chartered Institute of Taxation (CIOT) has welcomed the approach that HM Treasury has adopted in its Tackling Tax Avoidance paper.

According to the organisation, the new strategic approach will help the government create more certainty within the tax system.

Vincent Oratore, president of the CIOT, said: "The provision of a strategic approach should be welcomed by UK plc as a route towards greater certainty in the tax system. Setting out the principles that government will use to decide when to announce unscheduled tax changes is a good step forward."

The expert claimed the paper as a victory for the CIOT after the coalition agreed to change its stance over retrospective tax changes.

"We are pleased to note that the government has listened to our concerns about retrospective tax changes, which can lead to an impression of an unpredictable tax system," he added.

Posted by Jacob Williams