Magee Gammon Partnership LLP (M112)_BM AUTUMN17 #

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Business Round-up
Contactless card fraud on the rise
Figures published by Financial Fraud Action UK (FFA UK) have
revealed a significant rise in the amount of money being stolen from
contactless bank cards and mobile devices.
Contactless spending rose from £7.75 billion in 2015 to £25.2 billion
in 2016. The data revealed that nearly £7 million was stolen in 2016,
compared to £2.8 million in 2015.
However, FFA UK also stated that fraud involving contactless cards
and mobile devices equated to just 1.1% of total card fraud.
In order to combat contactless card fraud, consumers have been
urged never to hand over their card at the point of payment, to
always ask for a receipt when purchasing goods and to review
financial statements regularly to check for unusual transactions.
The figures came alongside the revelation that
card payments have more than doubled over
the past ten years.
Data published by the UK Cards
Association highlighted the
increase in popularity of contactless
card payments and online spending:
by the end of 2016, four in ten card
transactions were made either online or via
contactless technology.
Businesses urged to protect against
cyber-attacks
In light of recent cyber ransomware attacks, the Federation of Small
Businesses (FSB) has called on UK firms to take ’urgent steps‘ to
protect themselves.
The group has advised businesses to put cyber protection insurance
in place, as well as checking for updates to their computer operating
systems and anti-malware software.
Those using unsupported operating systems may prove to be more
at risk, so it is recommended that businesses only use systems
which receive regular security updates.
Firms are also encouraged to make sure that they have any essential
data backed up to help ensure that data cannot then be ‘held to
ransom‘ should the worst happen.
Businesses should make sure that they keep up to date on the
latest cyber security advice by visiting the government-
backed National Cyber Security Centre (NCSC) website: this
can be accessed at
The government’s Cyber Essentials scheme also provides
information on the ‘basic controls all organisations should
implement to mitigate the risk from common internet-based
threats’. Details on the initiative and how it may be of help to
you can be found at .
Reminders for your
Autumn diary
September
1 New Advisory Fuel Rates
(AFR) for company car
users apply from today.
19 PAYE, Student loan
and CIS deductions
are due for month to
5 September 2017.
30 End of CT61
quarterly period.
October
1 Due date for payment
of Corporation Tax
for period ended
31 December 2016.
5 Deadline for notifying
HMRC of new sources of
taxable income or gains
or liability to the High
Income Child Benefit
Charge for 2016/17
if no tax return has
been issued.
14 Due date for income tax
for the CT61 quarter to
30 September 2017.
19 Tax and NICs due
under a 2016/17 PAYE
Settlement Agreement.
PAYE, Student loan
and CIS deductions are
due for the month to
5 October 2017.
PAYE quarterly
payments are due for
small employers for the
pay periods 6 July 2017
to 5 October 2017.
31 Deadline for submitting
‘paper’ 2016/17 self
assessment returns.
November
2 Deadline for submitting
P46 (Car) for employees
whose car/fuel
benefits changed
during the quarter to
5 October 2017.
19 PAYE, Student loan
and CIS deductions are
due for the month to
5 November 2017.