UK

Thu, 20 Jan 2022 00:00:00 GMT
Tax-News.com: UK Delays Overhaul To Tax Non-Compliance Penalties
HM Revenue and Customs is reforming late-filing and payment penalties to make them fairer and more consistent across taxes. The first stage of these reforms was set to come into effect early this year. However, on January 13, 2022, HMRC postponed the...

Mon, 1 Nov 2021 00:00:00 GMT
Tax-News.com: UK Announces Tax Breaks For Businesses In 2022 Budget
With the UK corporate tax rate set to rise 25 percent from April 2023, the UK Government has announced various tax proposals that are intended to support businesses and the UK economy, in the newly released 2022 Budget.

Fri, 19 Mar 2021 00:00:00 GMT
Tax-News.com: UK Issues Guidance On New Stamp Duty Surcharge On Non-Residents
HM Revenue and Customs has recently issued new guidance on the Stamp Duty Land Tax (SDLT) on non-resident buyers of residential property in England and Northern Ireland.

Mon, 15 Feb 2021 00:00:00 GMT
Tax-News.com: EU Sizes Up Impact Of New UK Free Trade Deal
The European Union has released its Winter 2021 Economic Forecast, which says that Brexit will dent UK economic growth considerably, and more than for the European Union, despite the new free trade deal between the two parties.

Tue, 22 Dec 2020 00:00:00 GMT
Tax-News.com: Norway Issues VAT Regulation In Response To Brexit
Norway intends to provide value-added tax administrative relief measures to UK businesses in response to Brexit.

Tue, 22 Dec 2020 00:00:00 GMT
Tax-News.com: UK, Mexico Sign Continuity Trade Deal
On December 15, 2020, the UK and Mexico signed a trade continuity agreement that will apply when the Brexit transition period ends.

Tue, 22 Dec 2020 00:00:00 GMT
Tax-News.com: UK Eyeing VAT Rule Changes For Sharing Economy
The UK Government is inviting input on the tax challenges associated with the rise of the sharing economy.

Thu, 10 Dec 2020 00:00:00 GMT
Tax-News.com: UK, Canada Sign Post Brexit Continuity Agreement
Canada and the UK have formally signed a post-Brexit trade continuity agreement that will apply from January 1, 2021.

Thu, 10 Dec 2020 00:00:00 GMT
Tax-News.com: EU Seeking Sanctions Against UK Over Tax Rules On Marked Fuels
The EU has referred the UK to the Court of Justice over its failure to comply with EU rules on marked fuel.

Mon, 30 Nov 2020 00:00:00 GMT
Tax-News.com: UK Taxpayers May Arrange Payment Of Deferred VAT In 2021
HM Revenue and Customs has confirmed that UK businesses who wish to pay their deferred VAT liabilities in installments will be able to decide a payment schedule early next year.

Mon, 30 Nov 2020 00:00:00 GMT
Tax-News.com: UK, Canada Sign Post-Brexit Continuity Trade Deal
Canada and the UK have announced the successful conclusion of negotiations on an interim trade agreement, which will be in place as they work toward a comprehensive post-Brexit free trade deal.

Tue, 17 Nov 2020 00:00:00 GMT
Tax-News.com: UK To Offer Expanded Annual Investment Allowance Until 2022
The UK Government has announced that the temporary GBP1m (USD1.31m) cap for the Annual Investment Allowance (AIA) will be extended until January 1, 2022.

Tue, 17 Nov 2020 00:00:00 GMT
Tax-News.com: UK May Double Capital Gains Tax Burden
More closely aligning UK capital gains tax (CGT) rates with income tax rates could raise significant revenues for the UK, a government-commissioned review has concluded.

Tue, 10 Nov 2020 00:00:00 GMT
Tax-News.com: UK To Strengthen Insurance Premium Tax Rules
On November 5, 2020, HM Revenue and Customs issued a consultation on proposals to improve the administration of Insurance Premium Tax (IPT) and prevent unfair outcomes.

Mon, 2 Nov 2020 00:00:00 GMT
Tax-News.com: UK MPs Join Calls For Making Tax Digital Rethink
The UK's Public Accounts Committee has recommended that the UK tax authority first review the potential administrative burden and cost on taxpayers before further expanding its Making Tax Digital initiative.

Tue, 20 Oct 2020 00:00:00 GMT
Tax-News.com: OECD Indicates New Focus On Virtual Currency Tax Issues
The OECD has released a new report on countries' tax rules for virtual currencies, alongside an announcement that the Common Reporting Standard will be expanded next year to newly cover virtual currency assets.

Tue, 20 Oct 2020 00:00:00 GMT
Tax-News.com: UK Updates Brexit VAT Guidance For Imported Goods
On October 5, 2020, the UK tax authority added considerably to its Brexit guidance for businesses on the value-added tax rules that will apply to goods entering Great Britain from outside the UK.

Mon, 5 Oct 2020 00:00:00 GMT
Tax-News.com: UK Releases Construction VAT Reverse Charge Guidance
On September 24, 2020, HM Revenue and Customs released in-depth guidance on the introduction of the VAT reverse charge mechanism on the supply of building or construction services.

Tue, 22 Sep 2020 00:00:00 GMT
Tax-News.com: UK To Collect Interest On Overdue Digital Services Tax
The UK Government on September 16, 2020, tabled The Taxes (Interest Rate) (Amendment No. 2) Regulations 2020, which will enable HM Revenue and Customs to collect or pay interest on overpaid or underpaid digital services tax liabilities.

Tue, 22 Sep 2020 00:00:00 GMT
Tax-News.com: EU Expecting COVID-19 Dent In 2020 VAT Collections
The European Commission has published its latest VAT gap report, which show that EU countries lost an estimated EUR140bn (USD165.7bn) in VAT revenues in 2018.

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