Chartered Institute of Taxation Opens Guernsey Branch

Mandy Robinson, Tax-news.com, London

28 September 2000

The Chartered Institute of Taxation (CIOT) formed a new branch in Guernsey last week. The branch was formally opened by president of the CIOT, Richard Mannion, on September 19th. The first Chairman of the local Institute, KPMG's Jonathon Hooley, said that the role of the new branch is to provide 'a source of information on tax issues for tax practitioners in Guernsey and ... to make sure that Guernsey's voice is heard in the technical debate that surrounds the passing of tax legislation in the UK and elsewhere.'

Since its foundation in 1930, the CIOT has been a leading professional taxation organisation. It received the Royal Charter in 1994 and has branches throughout the world. At the Guernsey inauguration ceremony, Mr Hooley spoke of the need for a local branch: 'The idea for a local branch of the institute was first mooted four or five years ago and I am very pleased that it has now come to fruition ... it was important that we have a local branch and I suspect that the idea was given additional impetus when we realised that there are more members of the CIOT in Guernsey than in Hong Kong, where there has been a branch for a number of years.'

President Mr Mannion said that he sees the future of the Guernsey branch as a very bright one: 'we see Guernsey as being on a par with our branches in Hong Kong and Singapore. This is very much an international centre but with the advantage that it is only 75 miles from England and it will be possible to get specialist speakers here much more easily than to centres thousands of miles away.'

Clive Damsell, publicity officer for the new branch, says that the Guernsey branch plans to improve awareness of the Institute and of taxation as a career choice. It also intends to focus largely upon international and UK tax issues that affect Guernsey and will forge close links with other local professional organisations. He stated: 'The committee will be seeking to attract speakers on subjects relevant to local practitioners on the island in respect of UK tax issues affecting the offshore finance industry.' Future plans for the Guernsey branch also include the hosting of a European conference in 2002.

At the inauguration Mr Mannion also spoke of plans that were in store for the CIOT itself with proposals for a feasibility study to examine the the installation of an integrated computer system, with a view to provide a wide range of services to its members. Furthermore, a market research project to test demand for a new international institute of taxation could be under way in the near future. New examinations on international tax are also in the pipeline with consultants currently reviewing the Institute’s examinations.

Mr Mannion says he would like to see Inland Revenue officials working closer with tax practitioners to produce a more efficient tax system. He said: 'we have great confidence in the Working Together Initiative. This all started when the Inland Revenue regional controller in Bristol contacted me. The message from him was that we should tell the Revenue what we think we need to try to put matters right......What we are trying to do is put in place a mechanism through which national concerns can be reported on and, more importantly, acted on ...we were delighted that this initiative received ministerial backing in the last UK budget and the Revenue is putting funds into this project. The moves we are making with the Revenue will help to identify areas of concern and once a problem has been identified help to produce a solution. We won’t always succeed but we are working on it.'

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