Daysium

🔍 In the UK, HMRC is on a mission to chase down the estimated £35.8bn of theoretical tax liabilities.

Meet Connect, the tool HMRC hopes will help accomplish its mission. Developed with BAE Systems, it was introduced in 2010. At the time, HMRC said it cost £80m to implement, but reports estimate the cost to be closer to £100m. Throughout the years, HMRC has been reluctant to share details about the project.

Estimates suggest that over 80% of HMRC's investigations now stem from leads generated by Connect.

📊 The impact? Already by 2014, HMRC reported that Connect had secured over £3bn of additional tax revenue.

Under the hood, Connect has two distinct parts:

Analytical compliance environment (ACE) - allows analysts to manipulate, analyse, and profile data. Tax credit data is integrated into the ACE environment and cross-referenced in real-time with claims from both HMRC and third-party sources
Integrated compliance environment (ICE) - a visualisation tool showcasing the collected data and facilitating a comprehensive risk assessment.

💡But here's the fact that should get all of our attention: Connect uses over 30 different databases - and HMRC has yet to disclose all the sources of information.

These databases include tax returns, bank accounts, credit and debit card accounts, other government agencies, insurance companies, and even flight sales and passenger information.

This Is Money reported last year that the system holds 55 billion items of data.

Yet, while Connect pieces data from various sources, its credibility has raised questions. Social media data, for instance, can sometimes skew perceptions of taxpayers' affairs.

For taxpayers, navigating a tax investigation can be a taxing ordeal. The cost is more than just financial. The emotional impact of an invasive and often drawn-out inquiry can be devastating.

Compared to a sophisticated tool like Connect, an Excel spreadsheet of your day count won’t cut it. Globally mobile people need to leverage the best technology and partner with the right tax advisors.

With Daysium, you’ll have the tools to construct a body of digital evidence that stands up to scrutiny. You’ll confidently state, “There’s nothing to see here; everything is in order”.

🤝 Get in touch and join our waitlist.

📸 Capture the world, and your tax compliance, with a click! 🌍

🔍Geo-tagged photographs are an elegant testament to the irrefutable accuracy of your travel records. These images not only affirm your presence at a specific location but also serve as a sophisticated and undeniable layer of verification, reinforcing the integrity and precision of your travel log.

🗼 Imagine a selfie in front of the Eiffel Tower not just being a memory, but a key to unlock stress-free tax compliance. At Daysium, we recognize the undeniable proof that geo-tagged photos bring to showcasing your international travels.

🔒 Each snapshot is more than just a picture; it's a testament to your precise whereabouts, playing a pivotal role in your tax records. Gone are the days of ambiguous record-keeping. With Daysium, every photo is a step towards undeniable accuracy and peace of mind.

🌐 Join the Daysium waitlist today and embrace a world where your travels are not just experiences, but a seamless part of your tax compliance journey.
👉 https://scorecard.daysium.com/waitlist

👥 Are you a tax professional? Discover how our Founding Partner Programme can integrate seamlessly into your practice. Take our quick scorecard assessment to see the fit!
👉 https://scorecard.daysium.com/foundingpartners

🎅🎄 POLL: Christmas Jumpers - Yay or Nay?

The festive season is upon us, and with it comes the great debate at Daysium HQ: Christmas jumpers! Are they the epitome of holiday cheer, or just not your cup of eggnog?

We're divided and need your help to settle this:

👍 Love 'Em: They're as essential to Christmas as the tree itself! The more tinsel and lights, the better.

👎 Hate 'Em: No thanks, I'll stick to my regular attire and let the decorations do the talking.

Cast your vote and let's see where the festive spirit really stands!