Disclosure: Internet companies Face UK Tax Crackdown

Uploaded on 2015-08-04 in NEWS-Cybersecurity News, FREE TO VIEW, BUSINESS-Services-Financial

Internet companies may have to provide more information on people and businesses that sell goods and services online, in a crackdown on tax evasion.

HM Revenue & Customs wants to target businesses that have failed to register for tax, and individuals who fail to declare the money they make online. It said this "hidden economy" could equate to £5.9bn a year in tax.

HMRC has launched a consultation on extending its powers to collect extra data from firms and individuals. No specific firms have been named, but sellers on Internet marketplaces such as online advert site Gumtree, holiday home rental site Airbnb and e-commerce giant eBay could be among those targeted.

In the consultation document published online, HMRC said data played a key role in enabling it to detect those not paying tax. Existing laws allow HMRC to access certain data but it wants to broaden its scope.

The document said the extended powers would affect businesses acting as intermediaries or providing electronic payment services. HMRC stressed it would not target individuals who sold personal possessions, only businesses that failed to pay tax owed. It said it would not seek to find out what people bought online, but rather what was sold and not declared.

It said those who were tax compliant "should see little or no impact".
The 12-week consultation runs until 14 October.
BBC: http://bbc.in/1D1ci1O

« Darkcode Hacking Forum Forced Offline

Identity Access Management: Lessons From JPMorgan’s Insider Breaches »

CyberSecurity Jobsite

Perimeter 81

Real Attacks. Real Tools. Real Scenarios.
Schedule a demo

Training that transforms behaviours

Sign Up: Cyber Security Intelligence Newsletter

Directory of Suppliers

IT Governance

IT Governance is a leading global provider of information security solutions. Download our free guide and find out how ISO 27001 can help protect your organisation's information.

BackupVault

BackupVault is a leading provider of automatic cloud backup and critical data protection against ransomware, insider attacks and hackers for businesses and organisations worldwide.

LockLizard

Locklizard provides PDF DRM software that protects PDF documents from unauthorized access and misuse. Share and sell documents securely - prevent document leakage, sharing and piracy.

Jooble

Jooble is a job search aggregator operating in 71 countries worldwide. We simplify the job search process by displaying active job ads from major job boards and career sites across the internet.

CYRIN

CYRIN® Cyber Range. Real Tools, Real Attacks, Real Scenarios. See why leading educational institutions and companies in the U.S. have begun to adopt the CYRIN® system.

BGD E-GOV CIRT

BGD e-GOV CIRT's mission is to support government efforts to develop ICT programs by establishing incident management capabilities within Bangladesh.

Irdeto

Irdeto is the world leader in digital platform security, protecting platforms and applications for media & entertainment, gaming, connected transport and IoT connected industries.

BA-CSIRT

BA-CSIRT is a center which is dedicated to assist and raise awareness among citizens and the Government of the City of Buenos Aires in everything related to information security.

Sternum

Sternum provides reliable and effective endpoint security for any IoT device, using robust technology and seamless integration.

Swiss Cyber Think Tank (SCTT)

The Swiss Cyber Think Tank is a business network for Cyber Risk & Insurability, providing an industry-wide networking platform for insurers, technology and security firms.

Mvine

Mvine's primary business is authoring and selling Cyber-Secure Platforms for Collaboration Portals and for Identity Management as well as delivering cloud support services.

IT Search

IT Search is a specialist IT recruitment company focusing on Cyber Security, IT Infrastructure, Software, Data, Digital Transformation and C Suite leadership positions.

BeyondTrust

BeyondTrust is a leader in Privileged Access Management, offering a seamless approach to preventing data breaches related to stolen credentials, misused privileges, and compromised remote access.

Industrial Defender

Committed to ICS Cybersecurity. Industrial Defender provides a fully automated solution to discover, track and report on assets across your ICS footprint.

AnaVation

AnaVation is a trusted partner delivering high-value, cost-effective solutions that solve the most complex technical and analytical problems for our customers.

Amidas Hong Kong

Amidas is your trusted companion on the road to Digital Transformation. We provide a full range of Information Technology Solutions and Professional Services to Enterprise customers.

Udacity

Udacity's mission is to train the world’s workforce in the careers of the future. Our programs range from beginner to expert levels and deliver the hands-on skills for real-world expertise.

North East Business Resilience Centre (NEBRC)

The North East Business Resilience Centre is a non-profit organisation here to support businesses in the North East of England in protecting themselves from cyber crimes and fraud.

ResilientX

ResilientX is an All-In-One Security Testing Platform designed to help MSPs and SMBs to perform their security testing and assessments without having to outsource IT.

Computer Futures

Computer Futures are a global specialist IT recruitment partner, matching candidates with roles across niche IT markets and core technologies.

Integrated Cyber Solutions (ICS)

Integrated Cyber Solutions is a managed security service provider that humanizes cybersecurity managed services to the Small-to-Medium Business (SMB) and Small-to-Medium Enterprise (SME) sectors.