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HMRC consultation: Making tax digital: Corporation Tax 17 November 2020
HMRC has published a new consultation, which reviews the potential design of the Maxing Tax Digital (MTD) system for incorporated businesses and other organisations within the charge to Corporation Tax.
The consultation was published on 12 November 2020 and will close at 11:45 pm on 5 March 2021.
HMRC is seeking feedback from companies and other organisations within the charge to Corporation Tax, agents, professional bodies and software developers in order to establish the design of MTD for Corporation Tax.
In July 2020, the Government published ‘Building a trusted, modern tax administration system’, which confirmed that MTD would be extended further and advised that HMRC would be consulting later on in the year about the design of what the MTD system should look like for Corporation Tax. Businesses that have incorporated to become companies are also entitled to the benefits associated with MTD for Corporation Tax.
The consultation can be responded to by either email or post, and various virtual events will be held to understand the views of those who could potentially be impacted by MTD for Corporation Tax, or who have a keen interest in the consultation. Further details will be made public in due course.
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Tax-payers cautioned about scammers posing as HMRC ahead of the Self- Assessment tax return deadline 19 November 2020 HMRC is advising those individuals who are due to complete their Self-Assessment tax return that they should be aware of scammers attempting to take advantage of the upcoming deadline to pressure customers into sharing their personal and / or financial details. These scammers often purport to be from HMRC, and use a variety of methods of contact, including calls, emails and texts. HMRC is actually sending out SMS messages and emails to encourage individuals to complete their Self- Assessment tax return by the deadline of 31 January 2021, but there are also communications being distributed by unscrupulous scammers, which tax payers should be alert to. Over the course of the last 12 months, HMRC has investigated over 846,000 referrals of potentially fraudulent contact from the general public and has had to report more than 15,500 unsafe webpages to internet service providers, to have them removed. 500,000 of the communications involved the offer of false tax rebates.
Tax payers are reminded of how can they can report any activity that they deem to be suspicious by emailing HMRC at phishing@hmrc.gov.uk or by sending texts to 60599. Phone scams can also be reported on Gov.UK.
Criminals use language that aims to persuade individuals to disclose personal information, including their bank details. This information is then used to access bank accounts, to trick individuals into paying bogus tax bills or it is sold on to other criminals.
Karl Khan, HMRC’s Interim Director General for Customer Services, said:
“We know that criminals take advantage of the Self-Assessment deadline to panic customers into sharing their personal or financial details and even paying bogus ‘tax due’.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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