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🚨 HMRC loses £47m to phishing fraud

🚨 HMRC loses £47m to phishing fraud

Plus: How to power up your practice with AI

Marina Mouka
June 06, 2025

Daily Digest

EXPERT INSIGHT BY XERO
Power up your practice with AI
Forget the hype - here’s how to actually use AI in your practice.

FROM THE MARKET

Two south Essex businesses named by Government after workers underpaid

Reform UK accused of 'back of a fag packet' accountancy over £6,000-a-day savings claim

Ryan acquires Inspired to expand tax services in Ireland

EDITOR’S PICKS

NEWS
HMRC hit by £47m phishing fraud, MPs question digital defences
HMRC has lost £47m to a sophisticated phishing fraud that saw organised criminals exploit stolen personal data to create or hijack around 100,000 PAYE accounts, senior officials told the Treasury Select Committee this week.

INSIGHTS
Government red tape stalls growth for almost 1 in 5 UK SMEs

INSIGHTS
The end of month-end: How AI is changing accounting for the better

Aaron Harris, Chief Technology Officer at Sage

THE BIG INTERVIEW

Q&A: Inside Protiviti’s front-row view of audit’s next evolution
Protiviti’s Janet Barberis and Deepa Krishnamachari explain why internal auditors need a seat at the transformation table.

WE’RE ALSO READING

FINANCIAL TIMES
UK makes new concessions to private equity on tax crackdown

ESG IN ACCOUNTING

Oxford and AICPA & CIMA Launch Advanced Executive Program on ESG Reporting and Data Governance
An eight-week online course provides senior finance professionals with tools to lead sustainability reporting aligned with TCFD, ISSB, SASB, and ESRS standards.

Q2 2025 new IFRS® Accounting Standards and amendments: Are you ready?

IFRS Foundation Clarifies GHG Emissions Disclosure Under IFRS S2

WHAT WE'RE LISTENING TO

Tax Podcast Explores UK VAT, Stamp Tax Reforms, and International Implications
Zoe Andrews and Tanja Velling dissect UK tax developments, examining judicial decisions on VAT classifications and late claims, plus pending reforms in stamp taxes and international implications of US tax changes. For professionals in the tax field, understanding these updates is crucial for navigating evolving complexities and ensuring compliance.
Listen here

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