Walker Thompson

HMRC on Social Media

HMRC have indirectly admitted to using social media platforms to identify circumstances where people’s lifestyles as explained to their friends in comments and photos are not seemingly in line with their income as declared for tax. Examples include photographs of expensive sports cars and large house extensions posted on platforms such as Facebook and the use of software like Google Earth to look at properties.

Confidence in the SME Sector

The Federation of Small Business continues to report that over 70% of SME businesses are expecting performance to improve or remain at a static level in the next 3 months. They also report increased concern over availability of finance and the rates of interest which in some cases exceed 6%. Banks are insisting that availability of credit is there whereas increasing numbers of businesses are describing availability of affordable finance as poor.