A MERGER is to take place between the Chartered Institute of Taxation (CIoT) and the Institute of Indirect Taxation (IIT).
The move comes after both bodies voted through the motion in general meetings held on 15 May and 28 May.
It is believed the merger will be completed in early June, with the institutions united under the CIoT banner.
Newly elected president of the CIoT, Patrick Stevens, welcomed the unification.
He said: “Indirect taxes are a fast growing area of practice. By bringing together the expertise and the resources within the CIoT and IIT we believe we will strengthen the technical, CPD and educational offerings to members and students of both bodies.
“The over-arching principle of the merger is that the ‘DNA of the IIT’ should be embedded within the CIoT. We will put transitional arrangements in place to ensure this happens and to expand the profile of indirect taxes within the merged Institute, for example in our events programme and member communications.”
IIT chairman Bob Davies added it was “good news for indirect tax practitioners”.
He went on: “The two bodies have already given a great deal of thought to how the current IIT membership qualification and the CIOT’s indirect tax stream can be merged and we believe that the new structure for a CTA route for indirect taxes will build on the best of both its predecessors.”
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I will feel slightly awkward when I write to the client who is about to receive a large invoice from the PAYE expert, offering him the fee protection going forward