TAXEDO LLP

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  • HM Revenue and Customs (HMRC) seized business assets from 1,080 UK small firms to settle late tax bills in 2014, according to research by Funding Options. Sole traders, unincorporated businesses, and partnerships must file their annual self-assessment returns by July 31 and make an up-front payment of 50 percent of their annual tax liability. Funding […]

  • Users of Ebay and other online sales sites are facing a tax crackdown following government plans to obtain data on millions of internet transactions. HM Revenue and Customs wants to collect information from internet companies such as Paypal that would allow it to identify British users who have an income from online sales. That would include […]

  • 1. Introducing a new National Living Wage of over £9 an hour by 2020 From April 2016, a new National Living Wage of £7.20 an hour for those aged 25 and over will be introduced. This will rise to over £9 an hour by 2020. 2. The government will run a surplus in 2019-20 The […]

  • LONDON (InsideBitcoins) — As of January 1st, the European Union instituted new rules regarding electronic services as a taxable commodity. Whilst not directed at bitcoin specifically, the directive refers to supplying a ‘digital service’ to another member state and as such one clear requirement for the supplier would be determining if they are providing this […]

  • On the eve of the recent G20 summit the UK and German governments released a statement. This1 has significant implications for the UK’s Patent Box tax regime. The statement, which undoubtedly represented something of a compromise, in the wake of objections from several countries, most notably Germany, was nevertheless defended by George Osborne in Parliament […]

  • In a judgement released on December 17, 2014(1 BvL 21/12), the Federal Constitutional Court (Bundesverfassungsgericht – “BVerfG“) declared the applicable Inheritance and Gift Tax law partly (especially the exemption regulations for business assets) unconstitutional. The main subject of the lawsuit was whether the legislator breaches his constitutional duty of equal treatment of taxpayers if he […]

  • The Swiss Federal Council has adopted dispatches on five double taxation agreements, which will now be submitted to Parliament for approval. The treaties with Estonia, Ghana, Iceland, and Uzbekistan either replace or revise the current deals, while the agreement with Cyprus is Switzerland’s first with the territory. All of the DTAs contain administrative assistance provisions […]

  • Changes to Switzerland’s value-added tax rules will come into effect from January 1, 2015, through changes to the Value-Added Tax Ordinance. In changes approved in November, foreign companies will be liable to register and account for VAT on supplies made in Switzerland if their turnover in Switzerland amounts to at least CHF100,000 (USD103,600). This change […]

  • BEIJING, Dec. 12 (Xinhua) — China will raise taxes on oil products from Saturday, the second increase in a month. Tax on gasoline, naphtha, solvent oil and lubricating oil to will rise to 1.4 yuan (about 23 U.S. cents) per liter from 1.12 yuan. The levy on diesel, jet fuel and fuel oil will be […]

  • Facebook paid £1.8million in Irish tax on more than £2.3billion global sales Social network has been accused of channelling profits through Ireland  This has allowed the company to avoid tax in the UK for two years running Facebook ‘refused to listen’ to British public by not paying UK tax, MP says Margaret Hodge called for […]

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