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Finance Bill briefing: Clause 332: Right to repayment of income tax to be inalienable
We broadly welcome that clause 332 introduces a new provision, effective 15 March 2023, which renders void assignments of income tax repayments. This means that taxpayers will no longer be able to assign their rights to an income tax repayment to a third-party repayment agent – including those who h...
HMRC letters: misuse of till system and undeclared sales
HM Revenue & Customs (HMRC) are sending letters to businesses that might have misused their till systems, and as a result not paid the correct amount of tax. This is an opportunity for these businesses to get their tax affairs in order. We explain more about the letters and what to do if you rec...
Registration of Repayment Agents a welcome move - but more to be done
The Low Incomes Tax Reform Group (LITRG) has welcomed the announcement1 that repayment agents will be required to register with HMRC – a further step aimed at protecting taxpayers who use agents to help them claim tax refunds. However, LITRG has questioned how HMRC will enforce this ...
LITRG welcomes government move to fix state pension ‘trap’ faced by some parents and guardians
The Low Incomes Tax Reform Group (LITRG) welcomes the government’s confirmation today that it intends to address an issue faced by some parents and guardians who have not claimed Child Benefit and may have missed out on future entitlement to a full state pension as a result.1 However, LIT...