If you are struggling financially, you may be tempted to withdraw money from your pension to help you out. This may not always be a good idea. There is a minimum age to take money from a UK registered pension (usually 55). If you take money out sooner, you are likely to face large tax charges. The ...
Starting any new job can be daunting, but in flexible work, pay, tax or benefits can be more complicated than usual. Flexible working covers many different types of arrangements – temporary, casual, platform, contracting, flexitime, remote working etc. If you have any questions about your tax ...
Readers have been contacting us as they aren’t sure whether they need to tell HMRC about income that they have received gross (without tax taken off before they get it). Unfortunately, there is no easy answer as there are different sets of criteria you need to consider. Also, the law and HMRC ...
Carer’s allowance has featured heavily in news over the last few weeks – in particular, reports of carer’s allowance being clawed back due to breaches of the earnings limit threshold. There are several reasons why the earnings limit threshold may appear to be exceeded, but in this blog we explore ...
The Low Incomes Tax Reform Group (LITRG) has been honoured with a prestigious tax award.
The Low Incomes Tax Reform Group has urged young people to use a free HMRC tool to check if they have a Child Trust Fund (CTF), following concerns that some firms could be charging hundreds of pounds to trace and help withdraw the value of the fund.