The Low Incomes Tax Reform Group (LITRG) has welcomed the announcement in today’s Budget1 that the Money Purchase Annual Allowance (MPAA) will increase from £4,000 to £10,000 a year from 6 April 2023. But LITRG is warning savers that they still need to notify their pension providers if th...
The Low Incomes Tax Reform Group (LITRG) welcomes today’s announcement regarding the Help to Save savings scheme, extending it for 18 months.1 The account is available to certain benefit claimants and pays a tax-free bonus of up to 50% of the amount saved. Eligible individuals may no...
Taxpayers who have been fined for failing to file their Self-Assessment tax return on time may be able to have their penalties cancelled. ...
The Low Incomes Tax Reform Group (LITRG) is reminding taxpayers that the deadline for submitting most online 2021/22 Self-Assessment tax returns is less than two weeks away, on 31 January 20231. Unlike for the previous two years2, LITRG is not expecting HMRC to allow taxpa...
The Low Incomes Tax Reform Group (LITRG) have given a broad welcome to HMRC’s plans to tighten up the tax refund company market - but are urging them to translate these plans into reality as soon as possible for taxpayers who need to claim tax relief....