The cost-of-living crisis has seen an explosion of suggestions as to how to make some extra money to help make ends meet. But the tax consequences often get little or no mention! You must be on top of your taxes from the start so that you don’t accidentally miss an important deadline or make a mista...
Some employers are starting to pay or reimburse employee business mileage at more than the HMRC ‘approved’ amount because petrol and diesel prices are soaring. But the Low Incomes Tax Reform Group (LITRG) cautions employees that they may not see the full benefit....
Now that Making Tax Digital (MTD) for VAT is mandatory for all VAT-registered businesses, LITRG are reminding traders who are about to register for VAT that they must also sign up for MTD - or apply for exemption from the new digital rules....
The government has introduced various measures to assist with the cost of living crisis. This article briefly explains what these measures are and what this means for your tax and benefits. ...
Whether you are a waiter or a taxi driver, if you get tips (even cash tips), you cannot just put them in your pocket or bank account and be done with it! Here we explain how tips are taxed and tell you how to stay on the right side of HMRC. ...
The Low Incomes Tax Reform Group (LITRG) gives a cautious welcome to today’s publication of draft legislation1 aiming to address the issue of an estimated more than one million low-income workers (mostly women) not receiving a government incentive to save into their workplace pensions. Th...