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Published on 24 November 2020
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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.

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Published on 13 November 2020
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The Low Incomes Tax Reform Group (LITRG) welcomes the Government’s commitment to review options to tackle the cost to taxpayers of advisers who are claiming tax refunds on their behalf.

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Published on 12 November 2020
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LITRG is disappointed that the Office of Tax Simplification’s (OTS) 135-page review of the capital gains tax (CGT) regime and its recommendations fail to acknowledge fully how CGT affects unrepresented taxpayers – in particular, the role of the Annual Exempt Amount (AEA) in preventing inadvertent non-compliance by those unaware that they might have a CGT liability.

Illustration of people in front of a loan form
Published on 12 November 2020
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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 quickly.

Illustration of a woman working around the world
Published on 10 November 2020
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Given the rise of remote working, you might be thinking of working for your UK employer while overseas – for example, if you are a migrant worker temporarily returning to your home country. However, doing so can carry a number of risks for both you and your employer. LITRG has published guidance on the key things to consider.

Image of a sticky note with working tax credit written on it
Published on 29 October 2020
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HMRC have announced they are extending special tax credit rules for people whose working hours change temporarily due to coronavirus. Initially, these changes were expected to apply until 31 October 2020 but HMRC have now confirmed they will be extended whilst the Coronavirus Job Retention Scheme remains in place and, after that, to the end of the Job Support Scheme (currently 30 April 2021).

Illustration of the words limited company and business symbols
Published on 26 October 2020
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Limited companies are cheap and easy to set up. But working through your own limited company is very different from being an employee or self-employed. You therefore need to consider all the factors before deciding to set one up to ensure you fully understand your obligations. Our new guidance will help you do this.

Image with the word capital gains written on it
Published on 23 October 2020
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LITRG has responded to the Office of Tax Simplification’s call for evidence for its review into Capital Gains Tax (CGT).

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Published on 21 October 2020
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If you are late paying your tax bill, HMRC usually charge you interest. There is talk in the media of the Bank of England possibly setting a ‘negative’ base interest rate. What does this mean for HMRC interest rates?

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Published on 20 October 2020
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The Low Incomes Tax Reform Group (LITRG) suggests the Government looks to make the £500 Test and Trace support lump sum payments free from income tax. This will make them simple for people to understand and less expensive to administer. LITRG is also concerned that the current proposals mean people risk an unexpected tax debt.