LITRG is warning taxpayers who have not yet paid or agreed a payment plan with HMRC for their 2020/21 Self Assessment tax liability that they only have a week left to avoid a penalty. If any of the 2020/21 liability remains outstanding on 2 April 2022, taxpayers will be charged a penalty of five ...
The Low Incomes Tax Reform Group (LITRG) broadly welcomes today’s announcement1 in the Spring Statement that the government will align the starting point for paying2 class 1 employee and class 4 self-employed National Insurance ...
Around 2.3 million people in the UK are thought to own cryptoassets. If you are one of them, make sure you consider if you need to report and pay tax to HMRC on your cryptoasset activities.
The Making Tax Digital (MTD) rules were first introduced in April 2019 for all VAT registered businesses except for those voluntarily registered for VAT. Next month the MTD for VAT rules are being extended so that all VAT registered businesses must follow them from 1 April 2022 onwards unless they ...
HMRC have confirmed that they will consider late claims to grants under the Self-Employment Income Support Scheme, but in exceptional circumstances only. The deadline for making a late claim is 28 February 2022.
Release: Immediate: Monday 21 February 2022The Low Incomes Tax Reform Group (LITRG) is reminding taxpayers that they have only a week to file their 2020/21 tax return online to avoid an automatic £100 late filing penalty. LITRG also highlights that any tax owed for 2020/21 should be paid, ...