New global tax system

New global tax system

To tax multinational companies on business transactions completed in the UK, our government introduced the Digital Services Tax (DST) April 2020.The US response was to threaten to levy tariffs. However, a compromise has been reached that will see the introduction of a global system that will ensure multinationals do pay their fair share of tax[…]

What is cabotage?

What is cabotage?

Although it sounds like a culinary dish – a cabotage is defined as the transport of goods or passengers between two places in the same country by a transport operator from another country. Its present relevance is a rule that restricts hauliers from the EU who can only make two cabotage trips within seven days.[…]

Tax year end – all change?

At present, self-employed traders (sole traders and partnerships) are taxed for each tax year on profits for the accounting period ending in that tax year. Therefore, if a trader’s accounting year end is 31 December, their assessment for 2021-22 will be based on adjusted profits for the year ending 31 December 2021. Which means that[…]