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9am Lowdown
AccountingWEB

9am Lowdown: AAT VAT survey, HMRC and AI & The Accountant 2

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28th Jun 2017
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Good morning and welcome to Wednesday’s Lowdown. This is Richard bringing you the latest headlines hitting the accounting world. 

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What’s in the news

The AAT 2017 VAT Survey shows support for a significant increase in the VAT threshold from more than a third (36%) of AAT members, while 30% of those surveyed believe the exemption schedule should be scrapped.

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The accounting profession is set to return to the silver screen. Ben Affleck will pick up the calculator again with a sequel to the crime thriller The Accountant. (Empire Online).  

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Jeffrey Bakewell, a former bricklayer, who set himself up as a tax adviser kept around £300,000 from his clients’ false claims, an HMRC investigation has found.  (HMRC)

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Conservative MP Oliver Letwin has told Radio 4’s Today that taxes taxes should go up “in a careful way” to allow more money to be spent on public services. (The Guardian)

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HMRC is planning a series of trials on the use of artificial intelligence in some of its processes, with an emphasis on customer contact and casework. (artificial intelligence online)

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Tweet of the day this morning is a gentle reminder to get those Practice Excellence Award entries ready.

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What’s new on AccountingWEB

HMRC judicial review numbers hit record levels

Spanish tax authority denies super-rich clampdown

Over on Industry updates page, ICPA asks if the AE message is getting lost.

Fresh on the blogs this morning, networking the accountants way

And the Any Answers question of the morning comes from Kingfile who whether paragraphs 4.3 and 4.4 under FRS 105 are contradictory.

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paddle steamer
By DJKL
28th Jun 2017 12:31

"HM Revenue & Customs is planning a series of trials on the use of artificial intelligence (AI) in some of its processes, with an emphasis on customer contact and casework."

So it appears Daleks are to be introduced into the HMRC Debt Management Unit.

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