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 ...
In October 2021, LITRG submitted evidence to the House of Lords Economic Affairs Committee Finance Bill Inquiry.
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 ...
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 ...
The trading allowance – or, as it is sometimes called, the hobby allowance – can be very useful for people earning small amounts of self-employment, casual or miscellaneous income, particularly if you have low expenses.However, it can be easy to make a mistake when working out how to use the ...
The Low Incomes Tax Reform Group (LITRG) welcomes today’s publication of a cross departmental call for evidence on the umbrella company sector and hopes it will ultimately lead to an end to the problem of low-paid agency workers being paid through disguised remuneration.