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...
The Low Incomes Tax Reform Group are pleased to respond to this consultation which sets out the details of the new OECD rules and seeks views on the UK’s proposed implementation of the rules, including the optional/discretionary elements. ...
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...
If you started your own self-employed business during the Coronavirus pandemic and did not have a National Insurance number (NINO) then you may not be properly registered for Class 2 National Insurance contributions (NIC). This article explains who may be affected and why, what this means for you...