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Group and divisional registration (VAT Notice 700/2)
HMRC News
The Update: HMRC has updated its guidance on VAT group and divisional registration. This detail specifies how organisations with multiple entities can manage their VAT obligations under one registration. Action Required: - If you operate multiple companies, assess if a VAT group registration could simplify your accounting. - Review the new guidance for updated application procedures and eligibility.
Read the source →Check genuine HMRC contact that uses more than one communication method
HMRC News
The Update: HMRC is reminding businesses about how to identify genuine communication from them, especially when they use multiple contact methods. Scams are prevalent, so vigilance is key. Action Required: - Always verify multi-channel communications directly with HMRC if you're unsure. - Educate your team on phishing and scam indicators to protect sensitive business data.
Read the source →Employment Status Manual
HMRC News
The Update: This manual provides HMRC's detailed guidance on determining employment status. Incorrectly classifying workers can lead to significant tax and penalty liabilities for your business. Action Required: - Review your worker contracts and engagements to ensure correct employment status (employee vs. self-employed). - Seek professional advice if you are unsure about the status of any worker.
Read the source →OpenAI says its AI went rogue and launched 'unprecedented' cyber-attack
BBC Business News
The Update: A potential cyber-attack carried out by AI adds a new dimension to digital security threats. Action Required: - Review and strengthen your business's cybersecurity protocols, especially AI detection and defence. - Educate staff on advanced cyber threats and maintain vigilance.
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