Additional assessment for Netherlands

Additional assessment for Netherlands

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 …

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Beneficial Loans

Exempt beneficial loans

An employer may offer a cheap or interest-free loan to an employee. For example to cover the purchase of a season ticket, to meet welfare expenses or in the case of financial hardship. An employee loan (which for taxable benefit purposes includes any form of credit) gives to an employee with the expectation. That the …

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UK BUDGET 2021

UK Budget 2021 Key Points

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 …

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One-Stop-Shop (OSS) and Import One-Stop-Shop (IOSS)

2021 EU VAT changes OSS and IOSS

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. It will report obligations in the EU. At the same time, the distance sales threshold will abolishes and replace with a common …

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CASH FLOW ISSUES

The UK’s construction VAT reverse charge: cash flow issues

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 …

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REVIEWING PROCESS

Employees pay reviewing process

As a new financial year approaches, business owners will take the 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 next April, with the rate going up from £4.15 to £4.30 an hour. This …

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EUROPEAN FBA SELLERS

How the EU VAT reform impacted Amazon pan European FBA sellers?

Pan-European FBA helps you to sell across Amazon’s European marketplaces. It’s enable to placement of your inventory closer to customers. You send your products to an Amazon fulfilment centre in Europe. Amazon then allocate your inventory for storage across our European fulfilment network in those countries. That you have enabled for inventory placement. In order …

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AFTER BREXIT DEAL

After Brexit deal, VAT issues and Customs procedures in Germany

After Brexit deal, VAT issues and Customs procedures in Germany, due to the mutual assistance protocol that is part of the Brexit deal. There have been some simplifications to the fiscal representation requirements in certain countries. There were some EU member states that relaxed or even removed requirements related to fiscal representation. In general, the …

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