A client made payments into a seed enterprise investment scheme and an enterprise investment scheme in 2012/13 and 2013/14. No certificates were received in time for submission of the 2012/13 tax return
HMRC tackled record levels of online fraud in the run-up to last month’s self assessment deadline, the department has revealed.
Taxpayers reported 23,247 incidents of phishing o the Revenue during the three months to 31 January: an increase of 47% on the same period a year earlier. As a result, the department closed 178 web sources of bogus emails offering tax refunds during January 2014, marking year-on-year growth of 274%
The taxman was alerted to more than 91,000 incidents of phishing during the whole of 2013 and put a stop to 1,476 sites.
S Varma (TC3147)
HMRC have warned of another problem with their business tax dashboard, following the recent month eight error.
The latest error means the dashboard is not showing the correct liability position for tax months nine and ten of some PAYE schemes. Employers may find they are being told they owe more tax than expected for the affected months.
Michael Young Plumbing & Heating Engineers Ltd (TC3090)
HMRC are planning to ramp up their online solutions through a recruitment drive in the north-east.
The department plans to hire more than 50 specialists to build digital services that will make tax affairs simpler, clearer and faster for people and businesses to manage.
The Revenue intends for staff and technology suppliers to work together in a new centre in the Newcastle area – an upcoming region for digital talent – to identify the needs of taxpayers, test new services with real users, and improve existing offerings.
Interim report plans to patch up “fiscal footwear”
The HMRC information service on tax avoidance arrangements, Spotlights, has added an update on contractor loan schemes in light of the First-tier Tribunal decision in P Boyle (TC3103).
The tribunal dismissed all the arguments put forward by an IT contractor that his contractor loan scheme worked and the money he received was not subject to tax. The judge decided that the money paid over to the taxpayer as loans was “in substance and reality income from his employment” and therefore taxable.
HMRC have launched a blog aimed at improving the way the department works with tax advisers.
The new offering supports the Revenue’s strategy for engaging with tax agents, providing a channel to communicate about:
Michael Birch t/a The Woodman Inn (TC2951)
HMRC have launched a consultation that seeks views on changes to VAT law. The potential alterations would clarify the assistance available to VAT-registered businesses that are required to file their returns online but have difficulty doing so.
HMRC have launched an online service for overseas scheme managers and UK scheme administrators of qualifying recognised overseas pension schemes (QROPS).
Users of the new offering can notify the Revenue that a scheme is a recognised overseas arrangement, and report payments made out of funds received from a UK pension scheme.
The system also allows managers to notify tax officials of fund value, change to details or status, and additional information required for schemes that were formerly QROPS.