Category Archives: Latest News

New help to boost SME cyber security

Small businesses have been offered new support to help protect against cyber attacks.

The move came after the Information Security Breaches Survey, which was commissioned by the Department for Business, Innovation and Skills (BIS), revealed that the number of cyber attacks hitting businesses has increased over the last year.

It showed 87 per cent of small firms experienced a security breach last year, up by ten per cent. A total of 93 per cent of large organisations had also been targeted and the research found some attacks caused more than £1 million of damage. The average cost of the worst security breach for small organisations was between £35,000 and £65,000.

Now BIS has published a guide to help small businesses improve their cyber security and make it part of their business risk management process.

And the Technology Strategy Board has extended a scheme to allow small and medium-sized enterprises to bid for up to £5,000 to improve their cyber security.

Launching the new initiative on 23 April, Universities and Science Minister David Willetts said: “Keeping electronic information safe and secure is vital to a business’s bottom line.

“Companies are more at risk than ever of having their cyber security compromised, in particular small businesses, and no sector is immune from attack. But there are simple steps that can be taken to prevent the majority of incidents.

“The package of support we are announcing will help small businesses protect valuable assets like financial information, websites, equipment, software and intellectual property, driving growth and keeping UK businesses ahead in the global race.”

Link: Guide to help small businesses improve their cyber security

Link: Funding to help SMEs improve their cyber security

Late filing penalties start adding up

More penalties are on the way in May for taxpayers who have failed to submit their 2011-12 tax return online.

From 1 May, HM Revenue and Customs (HMRC) will charge a £10 daily penalty for each day an online return is late, up to a maximum of 90 days.

This daily penalty will come in addition to the initial £100 late filing penalty for missing the 31 January filing deadline.

Looking ahead, further penalties of at least £300 (or five per cent of the tax due, if that is more) will be issued for returns that are six and 12 months late.

Anyone who has received a late filing penalty and has not yet sent a return, but thinks they do not need to be in Self Assessment should call HMRC on 0845 900 0444. If HMRC agrees, the return and any penalty will be cancelled.

Link: Tax return deadlines and penalties