Results 1 to 5 of 5
  1. #1
    Fresh Seaman CaptainNemo's Avatar
    Join Date
    Sep 2009
    Last Online
    18-02-2018 @ 04:17 AM
    Location
    in t' naughty lass
    Posts
    5,408

    Taxman unleashes its 'snooper computer': what information does its have on you?

    For the pedants out there, the "its" is in the original.
    It's not that new as news, but it seems worth posting about, and I've got a Bob to live, yer fecker

    Taxman unleashes its 'snooper computer': what information does its have on you?



    The deadline for 2015/16 self assessment tax returns is looming, at the end of January Credit: DWImages /Alamy






    7 January 2017 • 7:37am HM Revenue & Customs has spent years and 100m or more on a super-computer designed to identify those who may have paid too little tax. And now – with the deadline for filing 2015-16 tax returns just weeks away – the system is being fully deployed for the first time.
    Instead of relying solely on information provided by taxpayers via their returns, HMRC’s powerful “Connect” system now draws on information from myriad government and corporate sources to create a profile of each taxpayer’s total income. Where this varies from the information provided by the taxpayer, the account is flagged and could be subject to further investigation.

    For the first time, HMRC is also using these powers to warn individuals to check that they have not underpaid.




    We all leave a massive electronic footprint of where we are, when we are away, what we do and what we spendGeorge Bull, RSM





    Last month it sent letters to 10,000 individuals who had submitted their 2014-15 tax return without a complete declaration of savings interest received.
    HMRC said it had used information gathered from banks, peer-to-peer lenders such as Zopa and other financial institutions and then checked it against individuals’ tax returns. It sent letters to those with discrepancies.

    A spokesman said: “We have written to customers who appear to have under-declared untaxed interest.”






    Home-sharing website Airbnb is used by many to rent out rooms or their whole property, and earn additional income Credit: AP


    The Connect system’s data-hoarding does not stop at the income people have received from work and investment.
    “Connect broadly deals with information spontaneously available in government departments or as part of the digital footprint that people leave when they use the internet,” said George Bull, senior tax partner at RSM, the auditing and consulting firm.
    “We all leave a massive electronic footprint of where we are, when we are away, what we do and what we spend.”
    The Connect system crunches data from Airbnb, the rental platform, for instance, or eBay.
    A spokesman from Airbnb said: "Airbnb hosts want to pay their fair share of tax and we want to help. We remind hosts to check and follow tax rules, send email reminders during tax season and have downloadable transaction histories for hosts. We also include helpful information on our responsible hosting page."

    It can also access Land Registry records to see houses purchased and ensure the correct tax has been paid. From there, further sources enable it to determine if properties are being rented out and whether that income has been declared.
    It can also determine if someone is likely to be able to afford such properties, or whether they are suspected of having used previously undeclared income or savings.
    HMRC gains anonymised information on all Visa and Mastercard transactions, enabling it to identify areas of likely underpayments which it can then target further, seeking details of individuals’ transactions where necessary.




    What HMRC can find out about you


    As of September last year, HMRC can now get information from banks and financial organisations in British overseas territories, such as the Channel Islands, while from this year it can gather this information from 60 more countries.

    “This is the tipping of the scales,” said Richard Morley of accountant BDO. “Five years ago those making minor tax errors would feel fairly safe. But HMRC now has more information and more access to information.”
    HMRC will also be one of the government bodies to gain access to information under new laws known commonly as the “snoopers’ charter”. The legislation means telecom providers store customers’ web browsing and email records for at least a year; it can then be accessed by the Government.

    http://www.telegraph.co.uk/tax/retur...ion-does-have/

  2. #2
    Thailand Expat
    pseudolus's Avatar
    Join Date
    Jan 2012
    Last Online
    18-08-2019 @ 10:50 PM
    Location
    On the range
    Posts
    17,608
    got to pay the tythe to owners of the country.

  3. #3
    Thailand Expat
    Troy's Avatar
    Join Date
    Feb 2011
    Last Online
    Today @ 04:45 PM
    Location
    In the EU
    Posts
    7,603
    About 20 years ago, the UK taxman spent 3 months investigating a 50 hotel bill I had submitted in my expenses. It ended up being okay. Lord knows how much it cost them the silly fookers.

    Meanwhile, the big money will be kept safely away from their clutches...

  4. #4
    disturbance in the Turnip baldrick's Avatar
    Join Date
    Apr 2006
    Last Online
    Today @ 04:51 PM
    Location
    Heidleberg
    Posts
    21,538
    Quote Originally Posted by CaptainNemo View Post
    We all leave a massive electronic footprint of where we are, when we are away, what we do and what we spendGeorge Bull, RSM
    speak for yourself - the shebeen does not take apple pay

  5. #5
    Thailand Expat
    pseudolus's Avatar
    Join Date
    Jan 2012
    Last Online
    18-08-2019 @ 10:50 PM
    Location
    On the range
    Posts
    17,608
    Quote Originally Posted by Troy View Post
    the big money will be kept safely away from their clutches
    Sat in Parliament is a position called the Remembrancer. his job is to exclude The City of London Corporation from laws that might impede their ability to launder dirty money or evade taxation. C of L corp which is why most laws that have teeth, have something like "excluding the City of London Corporation" etc in their text.

    Taxation is extortion - a protection racket. Give us on average 70-80% of your money after all taxes included or we'll take your house and chuck you in prison.
    Originally Posted by bsnub "No wonder I drive a tesla"

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •