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 ...
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 ...
High income child benefit charge has not been uprated since its introduction and now catches basic rate taxpayersConcern that this benefit charge hits larger families hardestWorry about knock-on impact on National Insurance credits
In our 2021 Autumn Budget representation, we repeat our calls for the government to raise the £50,000 threshold for the high income child benefit charge (HICBC) to at least £60,000. We argue that the £50,000 threshold is untenable now it has been overtaken by the higher-rate threshold from 6 April ...
The Low Incomes Tax Reform Group (LITRG) is pleased to have the opportunity to make a Budget Representation 2021 in relation to the loan charge.