9am Lowdown: Multinationals, HMRC permanent secretary, & pensions

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Good morning and welcome to Wednesday's 9am Lowdown. Here is what's shaping the news in the accounting world. 

News round-up

Multinationals avoided paying as much as £5.8bn in UK corporate taxes last year by booking profits in overseas entities. (Financial Times)

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HMRC faces growing pressure to overhaul the way it taxes pensions, as more evidence of savers losing out. (The Telegraph)

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The former co-owner of Charlton Athletic Football Club has fended off a probe by HMRC. (Daily Mail)

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HMRC chief executive Jon Thompson has announced that the department will shortly begin recruitment for a second permanent secretary ahead of executive chair Edward Troup’s retirement at the end of 2017. (Civil Service World)

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ATT is highlighting the need for taxpayers with undeclared UK tax liabilities relating to offshore interests to settle their affairs by 30 September 2018 or face stiff penalties.

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HMRC’s Manchester digital delivery centre has celebrated its first birthday. Head of content deliver Gary Fleming has written a blog on how the centre’s key achievements, which includes maintaining GOV.UK, and its plans to open a user research lab on site. (HMRC blog)

New on AccountingWEB

Kate Upcraft wants to see HMRC spend more of its NMW compliance budget on educating employers to avoid NMW underpayments, rather than reap fines and shame more companies.

If inaccurate VAT returns are submitted, HMRC can replace those returns with its own assessments, but it must use “best judgement” to arrive at the assessed amounts, as Neil Warren explains.

Could career coaching benefit you? CABA explores the benefits of career coaching on its Industry insights page.

HMRC’s site is down again, and Jennifer Adams wants to know what is happening. “I am thinking is if this is what we are getting now what are we going to find under MTD?” She writes on Any Answers. 

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