ID Theft

Be warned there is a nasty fraud going on whereby agents' online details are being highjacked, and tax refunds diverted.

"There is no reason to believe that the users' security details that have been used fraudulently were obtained from HMRC."

As per an HMRC statement quoted on Accounting Web

Given the security risks, is compulsory online filing such a good idea?

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

What is TAXWISE?

TAXWISE is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Taxwise

Tax Investigation for Dummies, by Nick Morgan, provides a good and easy to read guide for anyone caught up in an HMRC tax investigation. A must read for any Self Assessment taxpayer.

Click the link to read about: Tax Investigation for Dummies

HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

Playing Politics?

HMRC's Barrow tax office (Furness House) was to have closed in 2010. However, HMRC has deferred the closure until 2011.

HMRC staff claim that the delay is due to next year's general election, and a reluctance by HMRC to pay costly redundancy costs during the recession.

Source North West Evening Mail.

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

What is TAXWISE?

TAXWISE is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Taxwise

Tax Investigation for Dummies, by Nick Morgan, provides a good and easy to read guide for anyone caught up in an HMRC tax investigation. A must read for any Self Assessment taxpayer.

Click the link to read about: Tax Investigation for Dummies

HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

Security and Outsourcing

It seems that the government and HMRC are considering outsourcing certain IT functions to processing offices in India, in an attempt to save £205M per annum.

HMRC and its main IT contractors Capgemini and Fujitsu are considering outsourcing certain IT functions to India under the Quantum cost reduction project.

Staff, the media and politicians speculate that this may mean that tax records will be sent abroad. HMRC deny this.

However, a leaked memo states that the Quantum project included looking at the "potential off-shoring of some future work".

That would indicate that some records will be sent offshore.

Given the lax security standards of Asian processing centres, this proposal needs to be nipped in the bud ASAP.

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

What is TAXWISE?

TAXWISE is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Taxwise

Tax Investigation for Dummies, by Nick Morgan, provides a good and easy to read guide for anyone caught up in an HMRC tax investigation. A must read for any Self Assessment taxpayer.

Click the link to read about: Tax Investigation for Dummies

HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

Good Agents, Bad Agents

Senior HMRC officials have acknowledged that the tone of a consultation document "Modernising Powers, Deterrents and Safeguards:Working with Tax Agents" was perceived as hostile and failed to recognise adequately the benefits of dealing with professionally qualified agents, as opposed to tax agents who do not belong to a professional body.

Source ICAS

The consultation also receives some pithy comments on Accounting Web as well.

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

What is TAXWISE?

TAXWISE is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Taxwise

Tax Investigation for Dummies, by Nick Morgan, provides a good and easy to read guide for anyone caught up in an HMRC tax investigation. A must read for any Self Assessment taxpayer.

Click the link to read about: Tax Investigation for Dummies

HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

Pro Active

The Treasury has taken pro active measures against the possibility of a major VAT fraud occurring, wrt trading in carbon credits, by zero rating carbon credits.

Fraud in this area so far is estimated to have cost the Treasury a few hundred million pounds.

The fraud occurs when a fraudulent trader sells on carbon credits (bought at no VAT cost from a European supplier) to a UK business with VAT added. The fraudulent trader then pockets the VAT, and disappears without paying the VAT to HMRC.

The action taken by the Treasury is without the approval of the EU parliament, which is normally required for changes in VAT.

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

What is TAXWISE?

TAXWISE is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Taxwise

Tax Investigation for Dummies, by Nick Morgan, provides a good and easy to read guide for anyone caught up in an HMRC tax investigation. A must read for any Self Assessment taxpayer.

Click the link to read about: Tax Investigation for Dummies

HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

Simple!

Errmm...here is a story as per Tax-News.com.

Seemingly a 13 year project undertaken by HMRC to rewrite tax law (with the objective of making it easier to understand) is soon to come to a close.

Well, Timms is impressed and notes that "direct tax legislation is now far more accessible and easier to apply..."

What say you "Joe Public"?

After 13 years of activity, the HM Revenue and Customs (HMRC) Tax Law Rewrite Project is to end next year, the Treasury has announced.

Launched in 1996, the project is responsible for rewriting direct tax legislation, to make it clearer and easier for users to understand.

“The Tax Law Rewrite project has played a key role in modernising our tax legislation and its work has rightly been widely praised,” commented Stephen Timms, Financial Secretary to the Treasury. "The mainstream direct tax legislation is now far more accessible and easier to apply than the legislation that went before and when the project’s next two Bills are enacted, the time will be right to bring this work to an end.

Since its creation, the project has resulted in 6 pieces of legislation and tax regulations being rewritten, including: The Capital Allowances Act 2001; The Income Tax (Earnings and Pensions) Act 2003; The Income Tax (Trading and Other Income) Act 2005; The Income Tax Act 2007; The Corporation Tax Act 2009; and The PAYE Regulations.

The main goals of the project are to reproduce tax legislation in a clearer, more logical tax structure with use of plain language while attempting not to alter the main tax policies.

A high level Steering Committee, chaired by Lord Newton of Braintree, oversees the project. A Consultative Committee, consisting of representative bodies and other interested parties, also meets on a regular basis to consider issues and the draft legislation in more detail.

“With the completion of the project’s work, legislation for the mainstream direct taxes will now be much easier for users to navigate and understand,” Timms continued. “This is a very significant achievement and I am grateful for the contribution of everyone involved in it.”

The second Corporation Tax Bill and the Taxation (International and Other Provisions) Bill, which rewrites provisions that deal mainly with international taxation issues, is expected to be enacted in the spring of 2010.

Work currently on hand will be completed by the end of 2009/10, with only minor amendments to existing rewritten legislation to be undertaken after that, the Treasury informed.

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

What is TAXWISE?

TAXWISE is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Taxwise

Tax Investigation for Dummies, by Nick Morgan, provides a good and easy to read guide for anyone caught up in an HMRC tax investigation. A must read for any Self Assessment taxpayer.

Click the link to read about: Tax Investigation for Dummies

HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"