Around 2.3 million people in the UK are thought to own cryptoassets. If you are one of them, make sure you consider if you need to report and pay tax to HMRC on your cryptoasset activities.  

The Making Tax Digital (MTD) rules were first introduced in April 2019 for all VAT registered businesses except for those voluntarily registered for VAT. Next month the MTD for VAT rules are being extended so that all VAT registered businesses must follow them from 1 April 2022 onwards unless they ...

LITRG have recently responded to HMRC’s call for evidence ‘Modernising tax debt collection from non-paying businesses’. 

HMRC have confirmed that they will consider late claims to grants under the Self-Employment Income Support Scheme, but in exceptional circumstances only. The deadline for making a late claim is 28 February 2022.

LITRG has responded to the call for evidence here.  

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, ...