9am Lowdown: IMF, eBay, & personal tax accounts

9am Lowdown
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Good morning and welcome to Thursday's 9am Lowdown. 

News round-up

Higher income tax rates for the rich would help reduce inequality without having an adverse impact on growth, the International Monetary Fund has said. (The Guardian)

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The UK arm of eBay paid only £1.6m in corporation tax last year, even though its US parent had total revenues from its UK operations of $1.32bn (£1bn). (BBC)

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A Lymington accountant has been ordered to pay compensation of £2,000 plus costs for failing to pay a security bond, enforced by HMRC, until three days before the case went to court.

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The chair of the Work and Pension Committee has written to the Chief Executive of the Pension Protection Fund querying the financial settlement for the Monarch Airlines pension scheme. 

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On the CIOT website, Nigel Mellor, policy advisor on VAT simplification at OTS, previews the findings of the OTS’ Review of VAT.

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Tweet of the day comes from HMRC:

 

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Over on the industry insights page, AccountsIQ has announced a number of new productivity and reporting features and integrations with Salesforce CRM and Opera Hotel Management Software.

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12th Oct 2017 09:56

One can only hope HMRC aren't going down the same route as TFL and other rail companies, who seem to delight in shutting down their services at weekends in order to carry out improvement & upgrade works, that quite frankly never seem to achieve anything other than make the whole system even worse.

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