The LITRG supports the creation of a secondary annuities market in order to create consistencies and maintain equality of treatment between pre- and post-April reform annuitants. We do urge that those who are not financially aware or who cannot afford professional advice are accommodated appropriately, both with information being made available on Pensionwise and the ability to buy-back with the o...
LITRG has responded to a Department for Business, Innovation & Skills consultation on the new postgraduate loans focussing on how these loans will be collected through the tax system. LITRG recommends that the loan repayments must be available on HMRC’s Basic Payroll Tools free software for small employers. We disagree with the proposal that postgraduate loans should be repaid concurrently wit...
LITRG fully supports the development and introduction of any tools, across the whole auto enrolment process that will make the system easier to operate for small employers – particularly care and support employers. However, we would press that any new tool be fully integrated with the HMRC BPT tool in order to keep things as clear and simple as possible for employers. This will help them better co...
The LITRG welcomes the opportunity to discuss the present penalty regime in relation to the unrepresented low-income taxpayer. We applaud HMRC’s wish to ‘better differentiate between deliberate and persistent non-compliers and those who might make an occasional error for whom alternative interventions are more appropriate’, and focus our comments on the automated regime for self-assessment late fi...
The LITRG has called for greater clarity around how couples are dealt with in the tax and tax credits systems....
The Finance Committee for the National Assembly for Wales invited the LITRG to respond to its inquiry into the collection of devolved taxes. We recommend that the Welsh Revenue Authority has ultimate responsibility for the collection and management of taxes even if some processes are delegated to other organisations and that a Taxpayer’s Charter is used to ensure there is a consistent standard of ...