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 […]
Canada GST/HST rules for online marketplace From 1 July 2021, Non-resident companies selling goods and services online in Canada. It will soon need to contend with new GST/HST rules for ecommerce services. Here, we outline the difficulties for Canada’s GST/HST rule changes. Canada has taken the decision to change the GST/HST rules. This rules for Canadians
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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
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
The UK’s construction VAT reverse charge: cash flow issues The introduction of the UK domestic reverse charge for construction services marked a significant change in how VAT is accounted for within the construction industry. Designed to combat VAT fraud in labour supply chains. The reverse charge shifted the responsibility for accounting for VAT from the
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UK businesses no need Italian fiscal representative Following Brexit, many UK businesses trading in Italy were concerned that they would be required to appoint an Italian fiscal representative to meet their VAT obligations. However, Italian tax authorities confirmed that UK-established businesses can continue to register for VAT directly in Italy without the mandatory appointment of
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Employees Pay Review As a new financial year approaches, business owners will take the opportunity to employees’ pay review. 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
How the EU VAT reform impact Amazon PAN European FBA? Amazon 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
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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
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Pay As You Grow available on bounce back loan scheme Pay As You Grow options, which allow borrowers to tailor repayments to suit their circumstances, have been made available by the Chancellor to businesses taking advantage of the Bounce Back Loan Scheme. This means businesses now have more time and greater flexibility to repay loans
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