The Low Incomes Tax Reform Group (LITRG) of the Chartered Institute of Taxation has published a new section of its website bringing together all of the Group’s tax and related benefit guidance relating to the coronavirus (COVID-19). ...
The Low Incomes Tax Reform Group is highlighting that there is a lot of well-meaning but incorrect information about Statutory Sick Pay on the internet and it is important that people use trusted sources to confirm their position....
As a result of the coronavirus situation, people will be looking at their finances. The Low Incomes Tax Reform Group (LITRG) warns that there may be tax and welfare benefit consequences to drawing on savings, which mean that people may not receive as much as they expect. LITRG is advising people to ...
Today’s announcement that the National Living Wage (NLW) could eventually increase to over £10.50 and extend to workers aged 21 and over by 2024 is welcome, but LITRG are concerned about the risk of increased ‘false self-employment’1 that could result from these changes....
Today’s Budget confirmed that the annual threshold at which people pay Class 1 primary and Class 4 National Insurance Contributions (NIC) will increase to £9,500 from 6 April 2020 (up from the current level of £8,632).1 While this is good news for many employed and self-employed workers w...
It was announced in today’s Budget1 that a new interactive tool will be available in the summer to help the self-employed understand their tax position by providing specific information for their business. LITRG considers online tools that aim to help users make tax-related decisions help...