HM Revenue & Customs (HMRC) charge interest on late paid tax and late paid penalties. This is to compensate HMRC for the delay in payment and recognises that you have had the use of the money in the period following the due date. In very limited circumstances, HMRC might reduce or even remove ...
The Low Incomes Tax Reform Group (LITRG) is encouraging taxpayers who can’t manage their tax affairs online and are due to start using Making Tax Digital (MTD) for Income Tax to check whether they can claim an exemption from the initiative, which launches in six months’ time.
The Low Incomes Tax Reform Group (LITRG) is reminding gig workers and side hustlers to check if they need to complete a self assessment tax return for the 2024/25 tax year and register with HMRC by the 5 October deadline if necessary.
LITRG have responded to HMRC’s consultation on the draft regulations for Making Tax Digital for Income Tax published in July. These regulations will eventually replace the regulations from 2021 and 2024.
If you live in Scotland and you expect your income in the 2025/26 tax year to be more than £35,000, you have until 10 October 2025 to opt out of receiving this year’s pension age winter heating payment.
The government have launched a new voluntary repayment scheme for those who need to pay back Covid scheme money that they weren’t entitled to receive. The scheme will run until December this year.