HMRC are concerned that complex business structures involving partnerships are enabling certain people to avoid paying tax that is due in the UK. While we support strongly the proposition that everyone should pay the correct amount of tax we have some reservations about the proposals made by HMRC. M...
The Savings (Government Contributions) Bill 2016-17 outlines two new savings schemes – the Lifetime ISA and Help to Save accounts. The LITRG welcomes attempts by the Government to incentivise individuals to save both for their short and long term financial security, but points out that there still many finer details to consider. ...
HMRC are proposing to limit the range of benefits in kind (BIKs) that attract income tax and/or National Insurance contribution (NIC) advantages when provided as part of salary sacrifice arrangements. ...
LITRG has submitted comments to HMRC on two consultations on different approaches to tackling the hidden economy – one on sanctions and the other on conditionality. The fact that both consultations are taking place at an early stage in the development of policy is welcome. ...
While LITRG supports the overall aim of the new system to save time and money for employers and HMRC alike, we have a number of reservations regarding the effects that the proposed administrative ‘simplifications’ might have on small and micro employers such as care and support employers. ...
Although the LITRG welcomes the opportunity for people to access pension funds for the purpose of paying for independent advice on retirement planning, we do not consider that the proposed £500 is anywhere near adequate to meet the probable fees of an independent financial adviser or other qualified adviser for full and proper advice. ...