From 6 April 2025, the pay threshold at which you must operate a Pay As You Earn (PAYE) scheme is dropping to £96 a week. This follows the reduction in the level at which employer National Insurance is paid from 2025/26. If you employ someone, you may need to register with HMRC for the first time ...
The government has confirmed alongside today’s Spring Statement that HMRC is to require taxpayers in its Making Tax Digital programme to complete their self assessment tax returns using third party software. LITRG is concerned that this will make it harder for some unrepresented taxpayers to meet ...
From 1 April 2025, the national minimum wage (NMW) for adults 21 and over will increase to £12.21. For many low paid workers, this may help with the increased cost of living. However for others, the pay rise may be less than expected, due to various interactions. Here we set out a few of the key ...
Tax credits are being replaced by universal credit. Most existing tax credit claimants have now moved to universal credit or pension credit. In line with previously announced plans, there will be no more tax credit awards after 5 April 2025. If you are still receiving tax credits, you may need to ...
The Low Incomes Tax Reform Group (LITRG) is urging people to check their National Insurance record to see if they can boost their state pension entitlement before 5 April 2025.
About half of all employees might have been eligible for a tax refund for 2020/21 because of working from home during the coronavirus pandemic. If you were required to work from home during this time, and were not reimbursed for your expenses by your employer, there are two things to know: 1) The ...