Press releases

 


The Chancellor announced today that the personal allowance will increase from £11,500 to £11,850 from 6 April 2018. For many, this is a welcome announcement as it will mean they have more cash in their pockets, however it does little to help those on the lowest incomes.

The Low Incomes Tax Reform Group has warmly welcomed today’s announcement that the Government will allow claims to the marriage allowance in cases where a partner has died before the claim is made, and that such claims can be backdated by up to four years provided all other conditions for the allowance are met. This implements a long-standing recommendation by the Group.

The Chartered Institute of Taxation (CIOT) has highlighted that two significant new penalties for tax non-compliance have come into effect following Royal Assent to Finance (No. 2) Act 2017.1

Taxpayers who were planning to use a personal credit card to pay their 2016/17 tax bill (due by 31 January 2018) will need to pay HMRC early or put alternative payment arrangements in place, warns the Low Incomes Tax Reform Group (LITRG).

Tax professionals have welcomed HMRC’s announcement that they are extending the deadline for registering trusts for self-assessment until January 5 2018. Now the Association of Taxation Technicians (ATT) and the Chartered Institute of Taxation (CIOT) are calling for a soft landing on penalties, as agents continue to face problems and delays accessing the new Trust Registration Service (TRS). 

The Chartered Institute of Taxation (CIOT) has welcomed the Office of Tax Simplification’s report on VAT that makes recommendations on how the tax can be simplified.

The Low Incomes Tax Reform Group (LITRG) has welcomed today’s announcement by the Government that there will be a one year delay before the removal of Class 2 National Insurance contributions (NICs) in order to enable consultation on the impact of its abolition on the self-employed on low incomes.

The CIOT's Low Incomes Tax Reform Group (LITRG) has welcomed the announcement by the Government that there will be a one year delay before the removal of Class 2 National Insurance Contributions (NICs) in order to enable consultation on the impact of its abolition on the self-employed on low incomes.

Having control over some parts, but not others, of a complex interacting tax system may limit the Scottish Parliament’s ability to maximise the use of its income tax raising powers, tax professionals have warned.

new report published today by the Low Incomes Tax Reform Group (LITRG) calls for changes to the universal credit system for self-employed claimants. Without such changes, the group warns that there is a very real possibility that people will be discouraged from starting self-employment and existing claimants may be forced to give up their work.