Published on 4 April 2022
Income Tax Self Assessment registration for the self-employed and landlords
LITRG have recently responded to HMRC’s call for evidence ‘Income Tax Self Assessment registration for the self-employed and landlords’...
Latest updates
Published on 25 March 2022
Loan Charge – an update
The Loan Charge and Taxpayer Fairness All Party Parliamentary Group (APPG) has launched a call for evidence to establish the reality of the situation for all those impacted by the Loan Charge. Here we tell you about it and also what else is going on with the Loan Charge. ...
Published on 25 March 2022
Penalty looms for unpaid Self Assessment tax bills
LITRG is warning taxpayers who have not yet paid or agreed a payment plan with HMRC for their 2020/21 Self Assessment tax liability that they only have a week left to avoid a penalty. If any of the 2020/21 liability remains outstanding on 2 April 2022, taxpayers will be charged a penalty of five per...
Published on 23 March 2022
LITRG explains how HMRC taxes cryptoassets
Around 2.3 million people in the UK are thought to own cryptoassets. If you are one of them, make sure you consider if you need to report and pay tax to HMRC on your cryptoasset activities. ...
Published on 23 March 2022
Tax campaigners welcome NIC threshold increase as step towards simplification
The Low Incomes Tax Reform Group (LITRG) broadly welcomes today’s announcement1 in the Spring Statement that the government will align the starting point for paying2 class 1 employee and class 4 self-employed National Insurance ...
Published on 23 March 2022
Low-income self-employed need to file Self Assessment tax returns to claim NIC credits
The Low Incomes Tax Reform Group (LITRG) welcomes the changes to National Insurance for the self-employed announced in today’s Spring Statement. The threshold for paying both Class 2 and Class 4 National Insurance contributions (NIC) will be fully aligned with the threshold for paying income tax fro...