The loan charge originally required taxpayers, who choose to do so, to make a spreading election by 30 September 2020. HMRC has now announced that it will automatically allow any late spreading elections received on or before 31 December 2020. Now is the time to check if you will benefit from a ...
In this, the first of the Government’s ‘good work’ consultation responses, we put forward our views on how to increase the transparency of contractual arrangements for agency workers and how umbrella companies could be brought within the scope of the Employment Agency Standards Inspectorate (EAS).
The LITRG has published a paper ‘A better deal for the low-income taxpayer'.
The Low Incomes Tax Reform Group (LITRG) has welcomed HMRC’s decision to allow late loan charge spreading elections, but has warned of other barriers stopping people from meeting their loan charge obligations. HMRC must address these barriers to break the impasse, says LITRG.
In our response to the Treasury Committee's inquiry, we look at the the savings policy interventions of Help to Save and auto enrolment, and suggest some changes that could be made to improve the schemes from a low-income worker's perspective. We also highlight a real-life drawdown disaster – ...
30 September was the deadline by which those affected by the loan charge had to either agree a settlement with HMRC or report the loan charge on their tax return and pay the tax due (or arrange a payment plan). If you missed the deadline, all is not necessarily lost but you should seek help ...