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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

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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

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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’

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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

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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

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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

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Instant pensions duties start for new businesses

Start-up businesses will from 1 October have a legal duty to put staff straight into a workplace pension as soon as they employ them. The start of instant pension duties coincides with the fifth anniversary of automatic enrolment and shows that providing a workplace pension is now simply part of running a business. Since 2012, more than 8.5 million more

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All change at the IAB

After 11 years as the CEO of the IAB, Malcolm Trotter will be moving into a newly created role on 1 January 2018. Janet Jack, current IAB Chair, has been appointed into the CEO role. As International Vice President, Malcolm will continue the IAB’s drive to support the bookkeeping profession in countries around the world – he has visited four

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No more paying tax bills at the Post Office

HMRC has confirmed that from 15 December 2017 taxpayers will not be able to make payments for outstanding tax bills at any Post Office via cheque, cash or card. The Post Office payment system will go but cheque payments will still be accepted by post. Other means of payment by direct debit (where applicable), online or telephone banking (faster payments),

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