News

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.

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.

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.

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.