Beware bogus email scams

 

From HMRC this week – and worth remembering at all times:

“Customers are advised to lookout for a new bogus email scam, claiming to be from HMRC.

If you receive an email with a subject that reads “You have received new messages from HMRC”, that also has an attachment, please send it to phishing@hmrc.gsi.gov.uk and then delete it.

HMRC will never ask for any personal, or financial details over emails or text messages.

For more advice on scams, phishing and genuine HMRC contact, please visit G‌OV‌.U‌K
and search ‘phishing’.”

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To Excel or not to Excel?!

How sad is it that (i) I love nothing better than tapping away on a spreadsheet and (ii) I OWN that mug?!!!

“The spreadsheet has been declared dead more times than Bitcoin. But the tool, specifically Excel, marches on.”

From: Francois Badenhorst, AccountingWEB’s business editor:

It’s difficult to think of another piece of software which has enjoyed the longevity of the electronic spreadsheet. The tool, specifically Excel, has been a steady companion for AccountingWEB members.

The spreadsheet’s enduring popularity hasn’t come without controversy: it has been under sustained PR assault for as long as I can recall. The criticism seems to stem from a reasonable source: the never-ending stream of spreadsheet errors which have caused all manner of calamity.

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Authors, are you ready for GDPR?

Excellent summary post from the Authors Guild about GDPR and the effect for authors selling into the EU.

WHAT IS GDPR?

In 2016, the European Union adopted its new General Data Protection Regulation (GDPR), which will take effect on May 25, 2018. The regulation, which aims to strengthen EU citizens’ rights to protect their personal data, may seem inconsequential to anyone outside the EU. However, it will change the face of data privacy and protection around the world and will require almost immediate action from anyone who gathers any personal information, including email or IP addresses, from EU citizens, regardless of where the collector of the personal information is located. Starting May 25, anyone who collect any such information, including through the use of cookies, will have to obtain explicit permission from EU citizens to use the data and explain in clear, unambiguous language exactly how it will be used. Violations of this regulation can be extremely costly and can incur millions in fines.

HOW DOES GDPR AFFECT AUTHORS?

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Your HMRC wants YOU….?

 

 

Many taxpayers have been receiving this email alert from HMRC :


You’ve got a new message from HMRC

Dear XXXXX

You have a new message from HMRC about Self Assessment.

To view it, sign in to your HMRC online account.

For security reasons, we have not included a link with this email.

Why you got this email

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New rates for National Minimum Wage

National Minimum Wage and National Living Wage rates

The hourly rate for the minimum wage depends on your age and whether you’re an apprentice.

You must be at least:

  • school leaving age to get the National Minimum Wage
  • aged 25 to get the National Living Wage – the minimum wage will still apply for workers aged 24 and under.

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Were you one of the 10.7 million?

From the Institute of Chartered Accountants in England and Wales (ICAEW) – Tax News (my highlights) :

The number of self assessment (SA) tax returns filed by the 31 January 2018 deadline for 2017 returns has once again reached a new high. 10.7 million taxpayers submitted their return on time and 9.9 million of these were filed online. For those interested in statistics, this means that more than 92.5% of total returns were completed online. And of course it does also mean that over half a million tax returns remain unfiled.

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£1,000 tax-free trading allowance

Question: You do a little bit of buying and selling on ebay (or other sundry sales/income earned) and make a few hundred pounds per year profit on this. Do I need to declare this on my tax return?
I’m often asked this question by clients – although most of them hope dearly to make more than a few hundred pounds with their writing! – but in some cases it doesn’t go that way. HMRC recently brought in a new allowance to cover these sundry sales. There’s more detail on the HMRC website, and I’ve also excerpted a good summary below from JF Financial, an online accountancy practice. One important thing I’d ask you to bear in mind – this allowance applies to your PROCEEDS, not the profit you make.

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