The current squeeze on people’s incomes might lead some people to consider drawing on savings. The Low Incomes Tax Reform Group (LITRG) is concerned that hasty decisions to take money out of pensions could lead to costly mistakes. The group urges people to exercise caution and seek help.

The Low Incomes Tax Reform Group (LITRG) is calling on MPs to give tax more prominence in the school national curriculum.

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 ...