Clause 10 extends the freeze of the personal allowance and basic rate income tax band for a further three years until 2030/31. Our briefing raises concerns about the impact of the freeze on people with low incomes, who face a real reduction in their net disposable income.
The Low Incomes Tax Reform Group (LITRG) is urging the Chancellor to set out how the government’s plan not to collect income tax from certain state pensioners will work.
The CIOT and LITRG have responded to the Welsh Government consultation on Appropriate mechanisms for making changes to the Welsh Tax Acts.
Some lease transactions in Scotland are subject to land and buildings transaction tax (LBTT). If you are the tenant of a notifiable lease of a commercial property in Scotland, and the lease was granted on or after 1 April 2015, then you must submit three-yearly lease review returns to Revenue ...
The Low Incomes Tax Reform Group (LITRG) has commented on the decision to freeze the personal allowance for a further three tax years from April 2028 to April 2031.
From April 2024 sole traders and partners in partnerships are being taxed on a tax year basis even if they prepare their accounts over a different period. This change is known as basis period reform (BPR).If you were affected by BPR this article explains why you may want to revisit your 2023/24 tax ...