On 21 July, the government released draft legislation for this year's Finance Bill, plus details of the consultations first trailed at the Spring Budget, Accountancy Daily has consolidated these announcements with full details below
Online marketplace Amazon is to increase fees for UK sellers next month by 2%, in response to the introduction of the UK’s digital services tax (DST), in a move which is likely to increase costs for small businesses and traders who use the platform
Alongside the Finance Bill 2020-21 draft legislation, the government has released details of an ambitious ten-year strategy to create ‘a tax system fit for the challenges and opportunities of the 21st century’, with a strong focus on increased use of technology and moves to real-time reporting and tax payments
The US has pulled out of the discussions on the OECD’s plans for a global tax framework for multinationals in the digital economy, claiming the talks are at an ‘impasse’, and raising the prospect of retaliatory action over any digital services tax (DST)
With Brussels is planning new taxes around carbon, plastic and digital services to bolster the EU economy after coronavirus, the effects of may be felt by UK importers and exporters, says RSM’s George Bull
With US technology giants in the sights of any digital services tax, investigation could see a new tariff war launched against many countries including the UK, writes Avalara’s Richard Asquith
The US has launched an investigation into digital services taxes (DSTs) that have been adopted or are being considered by a number of its trading partners, including the UK, on the grounds that they will unfairly penalise companies like Google and Amazon
HMRC is finetuning the technical details for the VAT deferral process for businesses using the Making Tax Digital (MTD) for VAT system with an update to HMRC Technical VAT Notice 700/22 expected shortly
HMRC has deferred by one year the deadline for businesses reporting under Making Tax Digital (MTD) for VAT to meet the requirement to have ‘digital links’ within their recordkeeping for transferring information from Excel spreadsheets and other data sources to their online VAT filing
HMRC has released a slew of research reports on progress with its flagship Making Tax Digital (MTD) online reporting regime, suggesting that businesses which have fully automated are seeing some benefits, but those with a hybrid approach are finding the transition more challenging
The Country Land and Business Association (CLA) is calling for an overhaul of the tax system for rural businesses particularly in light of Making Tax Digital for income tax plans
HMRC has re-issued brief guidance on Making Tax Digital for landlords and sole traders who will be required to report income tax quarterly at some stage in the future, although it is still only a pilot and will not be mandatory
Making Tax Digital is not reducing errors and is proving to be much more expensive to implement than HMRC originally claimed, according to a joint user survey by CIOT and ATT
There are signs that France and the US are looking for a way to end their dispute over French plans to introduce a digital tax, which has seen the US threaten retaliatory tariffs on French products
