HMRC has written to businesses which it believes are trading above the VAT threshold, but who are not currently VAT registered. HMRC have launched a campaign aimed at VAT rule-breakers. As part of this campaign, they have confirmed that they will be sending letters informing certain businesses how to register to pay what they owe. …
HMRC targets traders who are not registered for VAT Read More »
Administration and tax consultant X filed a supplementation declaration for 2012 with date 28 November 2013. The supplementation declaration has not been processed by the tax authorities pending legal proceedings regarding X’s VAT entrepreneurship. Ultimately, it was decided that X is a VAT entrepreneur. The Tax and Customs Administration informed X in a letter dated 20 November …
An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee pays, if any, and the commercial rate the employee would have to pay on a loan obtained elsewhere. These types of loans are referred to as beneficial loans. There are …
From July 1, Non-resident companies selling goods and services online in Canada will soon need to contend with new GST/HST rules for ecommerce services. Here, we outline the difficulties that will surface from Canada’s GST/HST rule changes. Canada has taken the decision to change its GST/HST rules ,when Canadians purchase goods from non-residents online, at the …
The Chancellor Rishi Sunak has announced a £5bn scheme for High Street shops and hospitality firms in England on new Covid grants, Restart loans, and dates in the Spring Budget. The number of ongoing supporting packages for businesses The government hopes to claw back some of the coronavirus support given to businesses by way of …
From 1 July 2021, the EU will create a similar One-Stop-Shop (OSS) for B2C suppliers of all services and goods, which will remove the requirement for a business to have multiple VAT registrations and reporting obligations in the EU. At the same time, the distance sales threshold will be abolished and replaced with a common …
What do the 2021 EU VAT changes mean for Ecommerce sellers? Read More »
First announced in the 2017 Autumn Budget, the construction sector’s VAT reverse charge aims to tackle the issue of ‘missing trader’ fraud, which reportedly costs HMRC in excess of £100M in ‘lost’ tax revenue each year. Contractors on standard-rated construction projects charge their customers an additional 20% to cover VAT, with a responsibility to then …
The UK’s construction VAT reverse charge: cash flow issues and considerations Read More »
UK companies no need Italian fiscal Representative. Since the UK’s withdrawal from the European Union was approved on 24 December, there have been a number of outstanding issues, especially in the trade field. The UK’s exit from the European Union, also known such as “Brexit”, the writer received several questions regarding the correct one’s methods …
UK companies no need Italian fiscal Representative Read More »
As a new financial year approaches, business owners will be taking this opportunity to review their employees’ pay. Unfortunately, COVID-19 has made this a much harder decision than usual. The Treasury has announced the next increase in minimum wage for apprentices will be next April, with the rate going up from £4.15 to £4.30 an …
Pan-European FBA helps you to sell across Amazon’s European marketplaces by enabling placement of your inventory closer to customers. You send your products to an Amazon fulfilment centre in Europe. We then allocate your inventory for storage across our European fulfilment network in those countries that you have enabled for inventory placement, in order to …