Many self-employed, and partners in partnerships, claimed the fourth and fifth Self-Employment Income Support Scheme (SEISS) grants during the last tax year.¹ LITRG is reminding SEISS claimants that these grant payments are taxable income and need to be included on their 2021/22 Self ...

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 ...

The Low Incomes Tax Reform Group (LITRG) welcomes the changes to National Insurance for the self-employed announced in today’s Spring Statement. The threshold for paying both Class 2 and Class 4 National Insurance contributions (NIC) will be fully aligned with the threshold for paying income tax ...

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, ...

A concerned Low Incomes Tax Reform Group (LITRG) has debunked myths about the coronavirus Self-Employment Income Support Scheme (SEISS) grants to help the millions of people yet to submit their completed Self Assessment tax return and pay any tax owed ahead of the 31 January tax return ...