October 2017

HMRC Talking Points sessions – November 2017

HMRC’s regular Talking Points meetings provide ongoing information, guidance and tips, helping you to understand tax issues. Please find further details of future scheduled online meetings below: The Patent Box post 2016: In this meeting HMRC will be talking through the new rules, including the qualifying criteria, the records that need to be kept and the computation. We‌dn‌esd‌ay 1 No‌ve‌mb‌er –

Read more

Read more

HMRC Agent Update – Issue 62

HMRC has published the latest issue of its Agent Update. Some of the top articles included are: Paying HMRC by personal credit card – From 13 January 2018 HMRC will no longer be accepting payments made from personal credit cards. Support for mid-sized business – HMRC recently launched a dedicated tax support service for growing mid-sized businesses. Simple Assessment –

Read more

Read more

HMRC relies on amateurs to fight VAT fraud

The tax authorities are using a website with no budget or staff to help tackle £1.5 billion of online VAT avoidance. The vatfraud.org website, which is run entirely by volunteers, collects evidence of foreign retailers using Amazon and eBay to sell goods in the UK without paying the duty. In the past four months HMRC investigators have spent 70 hours

Read more

Read more

UK affected by 590 ‘significant’ cyber attacks in past year

The UK has been hit by more than 500 “significant” cyber attacks in the last year, security chiefs have revealed. Experts at the National Cyber Security Centre (NCSC) registered 1,131 incidents in the 12 months since the organisation began work in October 2016. Officials classed 590 of the reported incidents as significant, with more than 30 assessed serious enough to

Read more

Read more

UK public are ‘glued to their smartphones’

Survey of 4,150 16-75-year-olds reveals UK smartphone owners’ device usage habits. 85% of respondents – 41 million people – now own or have access to a smartphone. More than half admit to using their phone while walking; 4.5 million while crossing the road. Quarter of 16-19-year-olds respond to messages they receive in the middle of the night. 55-75-year-old ‘silver swipers’

Read more

Read more

HMRC moves to end the self assessment tax return

HMRC has issued a policy paper outlining how the new Simple Assessment regime will work. Simple Assessment is a new way of collecting tax designed to make life easier for millions of customers who have had to do Self Assessment tax returns in the past, according to HMRC. Currently, around 11 million people have to complete a tax return every

Read more

Read more

Taxman challenges firms capitalising on more generous R&D credit regime

The taxman is clamping down on companies looking to capitalise on a more generous research and development (R&D) tax credit regime. HM Revenue & Customs (HMRC) has disputed £425m in R&D credits over the last year, up from £90m in the previous 12 months, according to law firm Pinsent Masons. The rise comes after a more generous Research and Development

Read more

Read more

HMRC Talking Points sessions – October 2017

HMRC’s regular Talking Points meetings provide ongoing information, guidance and tips, helping you to understand tax issues. Please find further details of future scheduled online meetings below: Income from Property, minimising the risk for individuals: Dealing specifically with expenses, deductions, allowances, reliefs and repairs. HMRC will also look at the relief for the replacement of domestic items and the restrictions

Read more

Read more