CIOT enters second life

The Chartered Institute of Taxation (CIOT) will enter Second Life ® on Monday 15 October as part of Tax Advice Week. The CIOT is holding a Q & A event at Sky News office in the 3D world at 11.30am.

The CIOT is providing a Chartered Tax Adviser, Tax Anderton, to discuss tax issues with people in the virtual world.

Rob Ellerby, CIOT President, explains: “There are many people in Second Life who are buying and selling goods and services. Like any transaction this may be liable for tax. We feel it is very important that Second Lifers understand the tax issues they are facing, as we suspect many will not be fully aware of the implications of their virtual activity.”

The CIOT is also providing a short guide to the tax implications of virtual worlds.

Rob Ellerby adds: “We hold Tax Advice Week each year to ensure people have sufficient knowledge to be able to deal with the complexities of the tax system.

The content of the leaflet was kindly provided by LexisNexis.

Second Life is a 3D virtual world.

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For press information contact Simon Goldie on 020 7245 4122 (direct line), 07879 497316 (mobile). Email sgoldie@ciot.org.uk

Notes to Editors

The coordinates for the event are – SLURL

Tax Advice Week takes begins on Monday 15 October. The week is kindly sponsored by Interactive Data and Pure Recruitment.

Tax Anderton is a cousin of Heather Taxable. The Taxables are a cartoon family created for the CIOT by Steve Morgan. The Taxables were first introduced in 2006 to help raise awareness of tax issues.

To read the leaflet please click here.

Second Life is a 3D online world with a rapidly growing population from 100 countries around the globe, in which the Residents themselves create and build the world, which includes homes, vehicles, nightclubs, stores, landscapes and clothing. The Second Life Grid is a sophisticated development platform created by Linden Lab, a company founded in 1999 by Philip Rosedale, to create a revolutionary new form of shared 3D experience. The former CTO of RealNetworks, Rosedale pioneered the development of many of today’s streaming media technologies, including RealVideo. In April 2003, noted software pioneer Mitch Kapor, founder of Lotus Development Corporation, was named Chairman. Based in San Francisco, Linden Lab employs a senior team bringing together deep expertise in physics, 3D graphics and networking. Note to editors: Second Life® and Linden Lab® are registered trademarks of Linden Research, Inc.

The Chartered Institute of Taxation (CIOT) is a registered charity (number 1037771) and is the leading professional body in the United Kingdom concerned solely with taxation. The CIOT deals with all aspects of direct and indirect taxation. Its primary purpose is to promote education in and the study of the administration and practice of taxation. One of its 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 aims: it is entirely apolitical in its work. The 14,000 members of the CIOT have the practising title of ‘Chartered Tax Adviser’.

The Institute was established in 1930 and received its Royal Charter in 1994. It is a United Kingdom member of the Confédération Fiscale Européenne (CFE), the umbrella body for 150,000 tax advisers in Europe. As part of its charitable activities, the CIOT also sponsors the Low Incomes Tax Reform Group that works to improve and simplify the tax system so as to make it more responsive to the needs of those who cannot afford to pay for tax advice. The Institute offers the Advanced Diploma in International Taxation as a specialist qualification for international tax practitioners primarily working in corporate tax.