The Low Incomes Tax Reform Group (LITRG) has given a qualified welcome to a new ‘penalty point’ model for late submission of tax returns, contained in draft legislation published today. The group thinks the penalty point approach should be easy for taxpayers to understand, but is concerned that other aspects of the new regime may prove more complex.
If so, you are not alone! Recent research has shown that almost half (45%) of UK adults have struggled with everyday tasks involving maths, including checking they have been taxed the right amount on a payslip. But the good news is that there is help out there!
If you are on Universal Credit (UC) and incur expenses as part of your job, then make sure you tell your work coach or case manager about them, as they could reduce your earned income for UC purposes, meaning a higher award.
The Scottish Government are holding a series of roadshows across Scotland in July and August to raise awareness of the new Carer’s Allowance Supplement. The roadshows are specifically for those who work with carers and front line staff; places will be limited.
To help HMRC improve their existing online services and develop new ones, they regularly invite members of the public to help them. You do not need to be good with computers or the internet to be part of their research community and give valued feedback. Depending on the type of research session you take part in, you may be offered a shopping voucher as a thank you for your time.
The Low Incomes Tax Reform Group (LITRG) has highlighted that some people on zero hours contracts will not see the full benefit of any premium added to the National Minimum Wage. This is because of knock on deductions in their entitlement to welfare benefits.
While encouraging taxpayers with small amounts of trading or property income to consider making use of two new allowances, the Low Incomes Tax Reform Group (LITRG) is warning taxpayers to be wary of pitfalls.
The Low Incomes Tax Reform Group (LITRG) welcomes the publication of the first full annual strategy from Sir David Metcalf, the Director of Labour Market Enforcement – especially his recognition of the current problems with HMRC’s tax policing of intermediaries such as umbrella companies. LITRG hopes this report will provide a catalyst for more action by HMRC in this area.
The Low Incomes Tax Reform Group (LITRG) has raised serious concerns to the Government over its plans to extend the time limits for raising a tax assessment on offshore investments. Among those affected will be low income pensioners and migrants, not just the wealthy, LITRG says.