The UK Treasury last week launched a public consultation on the taxation of the gig economy – ‘VAT and the Sharing Economy’ Its aim to redesign the tax system which is struggling to fairly capture revenues from a sector estimated to be worth £140bn by
With the end of the Brexit transition period looming on 31 December 2020, it is important the UK and EU business prepare for the new border tax and declarations requirements. To complete declarations and tariff calculations, you will need to be able to identify commodity codes
Death of the VAT Return Over one million UK businesses are in the midst of HMRC’s biggest transformation of tax reporting – Making Tax Digital for VAT (MTD). The first mandated MTD VAT returns went in last month; the big first quarterly wave goes in
Financial crisis leads to austerity tax rises The UK has increased its standard Value Added Tax rate from 17.5% to 20% from 4 January 2011. This comes as the government’s deficit has ballooned in response to bailing out several banks during the financial crisis of
