While LITRG supports the overall aim of the new system to save time and money for employers and HMRC alike, we have a number of reservations regarding the effects that the proposed administrative ‘simplifications’ might have on small and micro employers such as care and support employers. ...
LITRG has submitted comments to HMRC on two consultations on different approaches to tackling the hidden economy – one on sanctions and the other on conditionality. The fact that both consultations are taking place at an early stage in the development of policy is welcome. ...
Although the LITRG welcomes the opportunity for people to access pension funds for the purpose of paying for independent advice on retirement planning, we do not consider that the proposed £500 is anywhere near adequate to meet the probable fees of an independent financial adviser or other qualified adviser for full and proper advice. ...
LITRG has submitted comments to HMRC and HMT on draft legislation to simplify the income tax and National Insurance (NIC) treatment of termination payments. This follows an initial consultation in 2015, to which LITRG also responded. We thought that the proposals in the original 2015 consultation we...
The Finance Committee of the Scottish Parliament issued a call for evidence at the end of June 2016 to assist their inquiry on a Scottish approach to taxation. This follows the devolution of taxation powers via the Scotland Act 2012 and 2016, which means a greater focus on revenue-raising. As a resu...
The LITRG welcomes the opportunity to comment on the Financial Conduct Authority's proposals to strengthen the standards for Pension Wise advisers in the face of the inclusion of secondary annuity markets within their role, however we believe the proposed standards set an unachievable target for those currently recruited to deliver pensions guidance under Pension Wise face-to-face. In order to adh...