Archive for the ‘Tax’ Category

Businesses should prepare for EU departure regardless of Brexit deal uncertainty

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HMRC has written to businesses that trade with the EU to explain how binding tariff information (BTI) will change if the UK leaves the EU without a deal, and what they can do to prepare. The letter is on HMRC’s website at tinyurl.com/y8yg342v. The department states it will continue to engage with businesses, representative organisations, intermediaries and infrastructure providers to ensure they have the information and support they need.

After MPs voted against the government’s proposed …

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Commission proposes move to qualified majority voting on EU tax matters

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The European Commission has published a roadmap for moving away from unanimity and towards qualified majority voting (QMV) by member states for making policy in some areas of EU taxation.

Under QMV, a proposal is passed if 55% of member states vote in favour of it and the proposal is supported by member states representing …

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Sellers red-flagged for paying incorrect tax

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More than 4,600 online sellers have been red-flagged to marketplaces for tax evasion during the past two years, according to HMRC. As a result, many sellers have had their online stores deleted.

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Accountancy bodies draw up engagement letter schedule

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The Association of Accounting Technicians, the Association of Chartered Certified Accountants, the Association of Taxation Technicians, the Chartered Institute of Taxation and …

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Revenue updates guidance on tax treatment of cryptoassets

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HMRC has confirmed the buying and selling of cryptoassets by individuals will normally amount to an investment activity and be subject to capital gains tax. It considers it …

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