Welcoming the Government’s proposals for the tax framework for the secondary annuities market which is intended to come into force next April, LITRG noted that this should put everyone, both pre- and post pensions freedoms introduced last year, on an equal footing. ...
In a response to the Government’s consultation to a new Public Financial Guidance service, LITRG has welcomed in principle the proposed abolition of the Money Advice Service and merging the functions of the Pensions Advisory Service with Pension Wise. ...
LITRG were among those asked to submit comments to HMRC to inform their review of how the implementation of RTI (Real-Time Information) had gone. RTI is the system whereby employers and pension providers are required to notify HMRC electronically of any payments they make to employees or pensioners,...
LITRG has submitted comments to HMRC on draft guidance for the statutory exemption from income tax for trivial benefits in kind provided by employers to employees. The relevant legislation will take effect from 6 April 2016. ...
LITRG has responded to the Making Tax Digital: Simpler Payments discussion document recently issued by HMRC. The document made several suggestions as to possible further policy developments within the Making Tax Digital framework. While HMRC’s efforts to develop ways in which taxpayers can interact ...
LITRG has responded to this consultation document that confirms the government’s intention to abolish Class 2 National Insurance for the self-employed and instead ensure that their eligibility for contributory state benefits is satisfied by the payment of Class 4 National Insurance. ...