Cryptoasset investors should keep up-to-date records to ensure they pay the right amount of tax, the Chartered Institute of Taxation (CIOT) and its Low Incomes Tax Reform Group (LITRG) have warned....
LITRG submitted a response to the Public Accounts Committee inquiry into DWP’s progress in implementing universal credit. ...
From 6 April 2024, there are six rates and bands of Scottish income tax that apply to the non-savings and non-dividend income of Scottish taxpayers. We set out what this means for Scottish taxpayers....
Thousands of UK employees could face an unexpected tax bill this year due to a little-known quirk in the tax system, the Low Incomes Tax Reform Group (LITRG) has warned....
In some situations, you need to actively claim a tax refund if one is due to you. These include refunds that relate to claims for the marriage allowance, tax relief on job-related expenses, and payment protection insurance (PPI) pay-outs where too much tax has been withheld at source. For refunds re...
There are 53 Thursdays and Fridays in the 2023/24 tax year, rather than 52. If you are weekly paid and will be paid on Thursday 4th or Friday 5th April, then you may encounter a ‘week 53’ issue which could impact your tax position. ...