CIOT welcomes the formation of a Hidden Economy Advisory Group - politics.co.uk

CIOT welcomes the formation of a Hidden Economy Advisory Group - politics.co.uk

The Chartered Institute of Taxation (CIOT) has welcomed the formation of a Hidden Economy Advisory Group, which has been announced today in the Pre-Budget Report. The CIOT has long argued that HMRC needs to put more effort into understanding and tackling the informal economy - people who seek to evade tax.

Gary Ashford, Chairman of the CIOT’s Management of Taxes sub-committee, said:

“The tax gap figures, published today, show that HMRC estimate that a significant part of the tax gap arises from evasion. HMRC need to raise more funds to help plug the deficit in the UK economy and although they have been relatively successful in tackling avoidance over the last few years they do now need to tackle evasion head on. The CIOT looks forward to working with HMRC in this area.”

Notes to editors

1) The ‘Protecting Tax Revenues’ publication, published today by HMRC as part of the 2009 Pre-Budget Report, announced the formation of a Hidden Economy Advisory Group including independent experts in tax and social economics. It is available on the HMRC website

2) The Chartered Institute of Taxation (CIOT) is a charity and the leading professional body in the United Kingdom concerned solely with taxation. The CIOT’s primary purpose is to promote education and study of the administration and practice of taxation. One of the key aims is to achieve a better, more efficient, tax system for all affected by it – taxpayers, advisers and the authorities.

The CIOT’s comments and recommendations on tax issues are made solely in order to achieve its primary purpose: it is politically neutral in its work. The CIOT will seek to draw on its members’ experience in private practice, government, commerce and industry and academia to argue and explain how public policy objectives (to the extent that these are clearly stated or can be discerned) can most effectively be achieved.

The CIOT’s 14,900 members have the practising title of ‘Chartered Tax Adviser’.

Contact – George Crozier on 020 7340 0569 or 07740 477374 (gcrozier@ciot.org.uk) or John Whiting on 020 7340 0591 or 07710 027595 (whiting@ciot.org.uk)