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Closing the tax gap … it’s complicated!

A few weeks ago, I wrote about the tax gap and how it was unfortunate that the figures were published at the same time Theresa May said taxes would need to rise in order to provide extra health service funding. The tax gap, as it’s quaintly known, is the difference between the amount of tax collected […]

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National Audit Office focuses on HMRC

“HMRC is primarily in the business of bringing in tax revenue, and numbers are up for 2017-18 which is good news. Of course it needs to be vigilant on fraud and error, which is rising in Tax Credits, and on customer service. I welcome HMRC’s recognition of the need for prioritisation, to balance Brexit pressures and […]

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The man behind Rhino, Eugene Blaine

Eugene Blaine started his first software company, Atlantic Global, in 1993. He took the group public in 2001 on the LSE Aim market. Atlantic built and supplied software solutions to leading companies such as Barclays Bank, HSBC, Pfizer, GSK and Aviva. In 2012, Atlantic was acquired by KeyedIn, a leading US cloud software company. Following […]

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Business calls for MTD roll-out delays

An “alarmingly high” number of UK businesses don’t know a thing about Making Tax Digital, says the British Chambers of Commerce. Or they know very little… So it’s no real surprise that they would like to see HMRC further delay the programme’s roll-out. BCC research, carried out with US tax software group Avalara, shows: 24 per […]

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Legalise cannabis and collect more tax, says IEA

Statisticians at the Institute of Economic Affairs reckon the UK could collect more than £1 billion a year in tax revenue if cannabis were legalised. A report by the right-wing think-tank says about 255 tonnes of  weed is sold to three million black-market users at about £2.6 billion a year. The institute, much favoured as an information source by Margaret […]

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HMRC to crack down on VAT fraud by online traders?

HMRC has been told to strengthen its efforts to tackle VAT fraud by online traders. The Public Accounts Committee  says “too many” are not paying their “fair share” and that this is hitting UK business. PAC members have highlighted the issue of overseas competitors not charging VAT when selling in the UK through online trading platforms. […]

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HMRC adds to self-assessment software supplier list

Welcome to this week’s final Daily Insight. Back in March HMRC produced a short list of making tax digital software suppliers. It contained two names, IRIS and Rhino. It added Absolute and Forbes a couple of months later. This particular list appeared on the gov.uk website under the headings: “Software for sending Income Tax updates … Find out […]

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HMRC steps into privacy problems with voice ID scheme

HMRC’s voice recognition password technology has proved popular – with 5.1 million taxpayers joining up to access their details on the phone. The only problem is that it appears HMRC did not ask for explicit consent to set up the biometric IDs. A probe following a freedom of information request by Big Brother Watch reveals that millions […]

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Accountants to play MTD teaching role

Today’s Daily Insight focuses on some insighful industry Making Tax Digital statistics. MTD is the No.1  problem for VAT-registered small business owners as they undergo technological transition. The education role for accountants is clear. Research by online accounting software provider Intuit QuickBooks finds that 76 cent say understanding digital is a chief concern, followed by finding the tools […]

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Pimlico ‘gig’ plumber was in fact a worker

As a rock music fan who has attended many amazing concerts over the years, I have always felt the term “gig” when attached to “economy” glamorised something that was, in essence, uncertain, precarious and had the potential to be not particularly lucrative. So I was glad when I read that a court had ruled against […]

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