Technology

Tax / HMRC sets out tax treatment of cryptoassets for business

HMRC has issued its first detailed guidance on the tax treatment of cryptoasset transactions specifically clarifying the rules for transactions at businesses and companies

Tax / HMRC trials online Trust Registration Service

HMRC is trialling additional functionality on the online trust registration service to make it easier to register and amend information about trusts, with the aim of launching a full service by year end

Tax / Making Tax Digital IT maintenance affects submission process

HMRC has resolved a technical issue affecting submissions of Making Tax Digital for VAT returns following IT maintenance over the weekend

Tax / Half of small businesses make VAT return errors

Half of small businesses say they have made mistakes when sending in their VAT return and only a quarter are confident they have the figures correct despite spending more than an hour checking

Tax / Errors on self assessment statements are a 'fiasco'

Some taxpayers face unexpected tax bills due to a technical error with HMRC’s IT system which means that self assessment statements were sent out with the wrong information

Tax / HMRC in-house digital spend hits £73m

Revenue and Customs Digital Technology Services (RCDTS) Ltd, the not-for-profit company set up by HMRC in the wake of the decision to end the outsourced Aspire commercial contract, reported income of £73.7m last year, up from £59.8m the year before

Tax / HMRC promises leniency despite slow take up of Making Tax Digital

HMRC has promised not to throw the book at firms who struggle to register for Making Tax Digital (MTD) as new figures show total take-up lagging in certain sectors

Tax / Lack of accessible software for MTD opens up exemptions

Anyone who cannot find suitably accessible software to comply with the Making Tax Digital for VAT rules should apply to HMRC for a temporary exemption, for example for age or disability reasons, says the Low Incomes Tax Reform Group (LITRG)

Tax / HMRC plans IT downtime for Making Tax Digital

The newly launched HMRC Making Tax Digital for VAT online reporting service will be unavailable for part of the weekend and for the whole working day on Monday due to IT maintenance

Tax / HMRC cracks down on fake phone calls spoofing taxman

HMRC has deployed new defensive controls to protect abuse of its phone lines in a bid to put an end to fraudster’s spoofing the tax authority’s most recognisable helpline numbers

Tax / EY alliance with Thomson Reuters on digital tax services

EY is teaming up with Thomson Reuters to develop leading-edge, digitally enabled tax services targeted at mulitnationals operating across tax jurisdictions

Tax / HMRC ordered to delete illegally held voice records

HMRC has been given 28 days to delete an estimated five million taxpayer biometric ‘voice prints’ obtained from callers to its helplines, after an investigation by the Information Commissioner’s Office (ICO) found they were being held illegally in contravention of data protection rules

Tax / US Congress moves to ban free tax filing software

US lawmakers are planning to pass a bill to prevent the Internal Revenue Service (IRS) from developing a free electronic tax filing system to help US taxpayers file digitally

Tax / Compliance fears drive increased use of tax technology

Company boards are increasingly concerned about tax compliance and planning, partly because of initiatives such as Making Tax Digital for VAT and automatic exchange of tax information, driving a 20% hike in investment in tax technology

Tax / HMRC’s online inheritance tax service unavailable

HMRC’s online page for inheritance tax (IHT) is currently unavailable, with the department stating it is working with its IT partners to provide an urgent fix for the unspecified difficulties
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