Submissions

LITRG has responded to the HMRC consultation document on draft legislation to introduce a new nil rate of tax for savings income within an individual’s savings allowance and to remove the requirement on deposit-takers and other institutions to deduct income tax from the interest they pay on certain savings and investments.  It will take effect from 6 April 2016. ...

LITRG has responded to the HMRC consultation document on draft legislation to introduce a new dividend allowance and dividend nil rate for the first £5,000 of an individual’s dividend income and to abolish the dividend tax credit. It will take effect from 6 April 2016. ...

LITRG has responded to the HMRC consultation document on draft legislation to introduce a statutory exemption from income tax for trivial benefits in kind provided by employers to employees. The legislation was originally intended to be included in Finance Bill 2015, but it was delayed to allow for further discussion. It will now take effect from 6 April 2016. ...

LITRG have responded to the Call for Evidence from the All-Party Parliamentary Group on Financial Education for Young People. Our main recommendations are that financial education should be a separate part of the national curriculum and lessons should include a basic understanding of how tax is calculated. ...

LITRG has responded to the consultation by the Office of Tax Simplification on the alignment of income tax and National Insurance by supporting a move to closer alignment as long as this leads to some simplifications which promote a better understanding of the Pay As You Earn and NIC regimes, particularly amongst unrepresented taxpayers. ...

LITRG has responded to the review of the taxation of small companies by the Office of Tax Simplification by calling for a simplification of the compliance obligations of small companies so that these businesses can be confident they can manage their affairs competently without the need to engage an adviser.  ...