Technology

Tax / Q&A: post Brexit supplies of digital services (VAT MOSS)

In our regular Q&A series, Croner Taxwise, senior VAT consultant, Hilary Budd, explores how Brexit will affect digital service providers using VAT Mini One Stop Shop (VAT MOSS) to account for VAT on sales to EU consumers

Tax / Making Tax Digital for corporation tax by 2026

Among the recent crop of tax policy announcements, HMRC is consulting on how the principles established for Making Tax Digital for quarterly online filing could be implemented for corporation tax

Tax / OECD digital services tax project slows

The OECD’s plans for reaching a consensus-based global approach to taxing digital services have been delayed, with no agreement now likely before mid-2021, despite analysis suggesting up to $100bn (£77bn) is at stake annually, an update on progress has revealed

Tax / Amazon pays £293m tax on £13bn sales

Amazon paid £293m in tax in the UK in 2019, while its sales rose 26% to £13.73bn, up from £10.9bn the previous year, fuelling concerns about the taxation of digital companies

Tax / Amazon hikes UK seller fees in response to digital services tax

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

Tax / Consultation on expanding qualifying expenditure for R&D tax relief

The government is consulting on the scope of qualifying expenditures for R&D tax credits, focusing particularly on whether expenditures on data and cloud computing ought to qualify for relief

Tax / Treasury moves to regulate cryptoasset promotions

The Treasury is consulting on plans for the Financial Conduct Authority (FCA) to regulate the promotion of certain types of cryptoassets for the first time, and to strengthen its role in approving financial promotions by unauthorised firms

Tax / US to probe UK’s digital services tax

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

Tax / Covid-19: scrapping VAT on e-publications fast-tracked

Chancellor Rishi Sunak has fast-tracked plans to scrap VAT on e-books and e-newspapers, bringing the measures in seven months earlier than announced at the Budget, in a boost to readers and publishers during the coronavirus outbreak

Tax / HMRC trials online CGT payment system for 30-day change

The payment window for capital gains tax (CGT) on the sale of second homes and buy-to-let residential properties is being cut to 30 days

Tax / Taxman to invest £100k in tracking tool to curb crypto asset crime

HMRC is ramping up the technology it uses to track investors in cryptoasset transactions using blockchain, with plans to buy a software analysis tool

Tax / What do you think of Making Tax Digital?

CIOT and the ATT are running an online survey for tax professionals and businesses to provide feedback about their experiences of Making Tax Digital for VAT

Tax / HMRC sets out tax treatment of cryptoassets for business

HMRC has issued its first detailed guidance on the tax treatment of cryptoasset transactions specifically clarifying the rules for transactions at businesses and companies

Tax / HMRC trials online Trust Registration Service

HMRC is trialling additional functionality on the online trust registration service to make it easier to register and amend information about trusts, with the aim of launching a full service by year end

Tax / Making Tax Digital IT maintenance affects submission process

HMRC has resolved a technical issue affecting submissions of Making Tax Digital for VAT returns following IT maintenance over the weekend
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