UPDATE 16 November 2021: The GOV.UK guidance referred to in this press release has now been updated to reflect the correct position. Tax credit claimants who relied on the misleading guidance, and as a direct result of that reliance have an...
The Chancellor set out the Autumn Budget and Spending Review with plans to ‘build back better’ over the rest of the Parliament. With public finances in a stronger position than expected, it focused on investing in public services, driving economic growth, leading the transition to net zero and suppo...
Release: Immediate: Wednesday 27 October 2021The Low Incomes Tax Reform Group (LITRG) is reminding taxpayers in Self Assessment who want to submit a paper tax return for 2020/21 that they have just a few days left before the 31 October deadline. Paper returns which reach HMRC after Sunday 31 October...
Release: Immediate: Budget Day: Wednesday 27 October 2021The Low Incomes Tax Reform Group (LITRG) welcomes today’s announcement from the Government which ends the injustice that over a million low-income workers (mostly women) lose out on pensions tax rel...
Release: Immediate: Budget Day: Wednesday 27 October 2021The Low Incomes Tax Reform Group (LITRG) welcomes today’s announcements that the universal credit taper rate will be reduced to 55%, the universal credit work allowances will be increased by £500 a year and the national living wage will increa...
If you have a new source of income which you need to declare for tax purposes, you may need to notify HMRC by 5 October following the tax year in which the new source began. This is so that HMRC can issue you with a tax return for completion. Although you should try and meet the deadline, all is not...