Technology

Tax / HMRC Connect and tax investigations: what you need to know

HMRC Connect is a vast analytical tool creating links and patterns across millions of megabytes of data to identify recalcitrant taxpayers and close the tax gap. Rob Munro delves into the detail

Tax / HMRC passes 10m robot transactions total

HMRC has announced what it is calling a major milestone in its modernisation programme, having now processed 10m transactions using robots since 2015, a development which the department says has improved efficiency and customer experience

Tax / Malicious software warning to taxpayers

HMRC has issued a warning to tax agents about the risks of malicious software (malware) and malvertising being delivered by email, and particularly the risks of opening apparently benign attachments and clicking links

Tax / HMRC publishes guidance on online security vulnerabilities

HMRC has published guidance alerting taxpayers to what they should do if they identify a security vulnerability in an HMRC online service

Tax / IRS payment site crashes on tax deadline day

The Internal Revenue Service (IRS) has had to give US taxpayers an extra day to file their taxes after its payment site crashed on the 17 April deadline day

Tax / EU plans for 3% digital tax

The European Commission has announced plans to introduce a 3% tax on digital businesses, likely to hit around 150 companies and bring in some €5bn (£4.4bn) a year, as an interim step in its efforts to ensure a fair share of revenues from the current ‘black hole’ of online activities

Tax / OECD sets out digital economy tax plans

Ahead of this week’s meeting of the G20 finance ministers in Argentina, the OECD has published an interim report on the implications of digitalisation for taxation, and says its inclusive framework on base erosion and profit shifting (BEPS) is working to achieve a consensus approach by 2020

Tax / HMRC publishes directions on digital service consent

HMRC has published a policy paper setting out how users of either its current self assessment online service or the proposed new Making Tax Digital for business service can either provide or withdraw their consent to receive electronic communications from HMRC

Tax / Spring Statement 2018: corporate tax and the digital economy

The Spring Statement saw the release of an updated Treasury policy paper on options for reforming the corporate tax regime to address the challenges of the digital economy, with government considering going it alone if there are delays in reaching international agreement on ways to address the way digital businesses are taxed

Tax / Spring Statement 2018: online platforms to promote tax compliance

As part of Chancellor Philip Hammond’s Spring Statement, HMRC is seeking views on how the tax authority can engage with online platforms, such as eBay and Uber, to promote tax compliance among its users

Tax / Excel skills no longer a ‘must have’ for accountants

CFOs no longer consider Excel as an essential skill and are more concerned about employees’ ability to adapt to new technologies, according to research by Adaptive Insights

Tax / Small businesses spend three working weeks on tax compliance

The average UK small business spends £5,000 and three working weeks every year on tax compliance, according to research from the Federation of Small Businesses (FSB), which is calling for the system to be simplified

Tax / HMRC clarifies tax treatment of cryptocurrencies

Although there are no plans afoot to update HMRC’s tax treatment of cryptocurrencies such as Bitcoin, HMRC has moved to clarify its position on the virtual currencies, reports Calum Fuller

Tax / Crypto challenge: taxing cryptocurrencies

As the number of cryptocurrency holders grows along with their values, Calum Fuller examines what it means for practitioners and the potential tax implications for clients

Tax / HMRC intercepts 90% of tax scam text messages

HMRC is claiming it has stopped thousands of taxpayers from receiving scam text messages, with 90% of the most convincing texts now halted before they reach individuals’ phones, as it seeks to raise awareness of the tell-tale signs of fraud ahead of the self assessment deadline
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