The Scottish Government has proposed the rates and thresholds for Scottish income tax that will apply to the non-savings and non-dividend income of Scottish taxpayers from 6 April 2022. We expect these to be approved by the Scottish Parliament in March 2022. ...
We are aware that some people are still receiving loan demands from certain companies asking them to repay loans which they have already settled the tax on or paid the loan charge to HMRC. We have been monitoring the situation since the publication of our original FAQs on this issue in May 2021. Her...
In October 2021, LITRG submitted evidence to the House of Lords Economic Affairs Committee Finance Bill Inquiry. ...
If you are self-employed, or perhaps part of a small partnership, 2020/21 may have been a tough time to have been trading due to the pandemic. If this applies to you, it might mean that you have a loss and not a profit from your self-employment when you prepare your 2020/21 tax return. In this artic...
The normal minimum pension age is the earliest point at which most people can access their pensions without incurring an unauthorised payment tax charge. It is currently set at age 55 and this legislation will increase it to 57 with effect from 6 April 2028. There are exceptions for those who have a...
From 4 April 2022, if you are renewing a taxi, private hire or scrap metal licence in England and Wales then you will need to complete a ‘tax check’ first. The rules are expected to be extended to Scotland and Northern Ireland from April 2023. This article explains ...