Technology

Tax / HMRC under fire from MPs over biometric phone recordings

HMRC has been criticised by MPs regarding the standards of data protection it maintained while collecting biometric data on customers for security purposes, a process that generated complaints from taxpayers, at a PAC hearing into HMRC performance

Tax / ‘Game on’ for UK developers with tax incentive

The use of tax incentives to drive growth in the UK’s video game industry has risen by over 30% in the last year and is helping to reverse the sector’s decline in recent years, according to analysis by Moore Stephens

Tax / Labour mulls digital giant media tax

Labour leader Jeremy Corbyn has indicated his party is considering the introduction of new taxes on digital media providers in order to provide funding for more traditional media outlets including local newspapers and broadcasters and ensure a ‘free and democratic’ media

Tax / FCA consults on global financial innovation network

The Financial Conduct Authority (FCA) is consulting on plans to create a global financial innovation network (GFIN), in collaboration with 11 financial regulators and related organisations, which will build on its proposal earlier this year to create a ‘global sandbox’ for new concepts and finance models

Tax / ICAEW flags up inaccuracies in PAYE tax calculations

ICAEW is warning of early reports of issues with HMRC’s calculations of under or over payments as part of the commenced the annual reconciliation of taxpayers’ PAYE records for 2017/18

Tax / Making Tax Digital: are the software providers ready?

Making Tax Digital for VAT reporting will be mandatory from 1 April 2019, although there will be an initial soft-landing period before penalties kick in from early 2020. Rob Munro asks whether software providers are ready

Tax / Amazon’s UK tax bill halved as profits almost treble

News that Amazon’s UK tax bill almost halved last year to £1.7m, despite a near-trebling of profits at the online retail giant, has prompted renewed calls for changes to the tax regime for multinational digital companies

Tax / International law firm attacks HMRC over privacy concerns

Law firm Mishcon de Reya has filed a complaint with the Information Commissioners Office (ICO), citing concerns over the use of the common reporting standard (CRS) and beneficial ownership registers

Tax / Technology sees HMRC property raids drop 30%

There has been a 30% drop in property raids carried out by HMRC, as it shifts to using artificial intelligence (AI) and big data to gather evidence for investigations, according to analysis from Pinsent Masons.

Tax / Increased transparency requirements put tax functions under pressure

Tax and finance functions are struggling to keep up with digital advances, a push towards transparency and global reforms of the international tax system, according to a survey conducted by EY

Tax / ‘Ask Alexa’ for tax credit information

HMRC is offering three million taxpayers the opportunity to ask Alexa, Amazon’s virtual home assistant, for help in renewing their tax credits by the 31 July deadline

Tax / HMRC shuts down record 20,000 fake websites

There has been a 29% hike in the number of malicious websites which HMRC has asked to be removed following a spate of scams involving fake emails and texts

Tax / Minor software providers sign up to Making Tax Digital pilot

With less than a year until the rollout of Making Tax Digital for VAT reporting becomes mandatory, HMRC has signed up two more software providers for the income tax pilot

Tax / Number of tax refund scams escalating

A sharp rise in the number of scam emails and text messages targeting taxpayers has been flagged by HMRC, with renewed warnings that criminals are attempting to trick the public into thinking they have received a tax rebate so they hand over their account and personal details

Tax / US lawmakers push IRS to adopt digital tax reforms

The Internal Revenue Service (IRS) is being pressed to adopt new online systems after the US House of Representatives passed legislation intended to introduce digital services and require the tax authority to appoint a chief information officer (CIO), in the wake of technical problems which saw the tax payments system crash on deadline day
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