WTS in United Kingdom

The UK is progressing to the next implementation stage of the Border Model and the lodging of customs declarations.

The UK has entered the next stage of Brexit. As part of the phased implementation of the UK Operating Border Model, most of the simplifications for entering and exiting goods in the UK have now been removed.

Following a public consultation on TP documentation, the UK government decided to introduce new legislation and require the largest MNE with presence in the UK to maintain a transfer pricing Master File, Local File and supporting Summary Audit Trail. The new requirements could take effect from April 2023.

On 11 January, HMRC launched its consultation on the implementation of Pillar 2 Rules in the UK, this is part of the OECD’s BEPS 2.0 project, which relates to the taxation of the digital economy.

The UK plastic packaging tax will come into force on 1 April 2022. The new tax will apply to plastic packaging manufactured in or imported into the UK that does not contain at least 30% recycled plastic. In this context, plastic packaging is defined as packaging that is predominantly made of plastic by weight.

"The Recast", is effective from 9 September 2021 – but what does it mean for industry?

Setting out, during a time of ‘challenge and change’, the 2021 Budget, including some key new tax policies and measures to begin to navigate out in the wake of COVID-19.

The UK government has opened a consultation process on changes regarding the transfer pricing documentation requirements valid in the UK. Our British colleagues explain the proposed changes.

Our summary of R&D Incentives provides guidance where such incentives are provided, and who in WTS Global can support you to gain from these incentives for your business or individually the most.

On 23 March, the inaugural "Tax Day", the Chancellor Sunak announced more than 30 tax policies and consultations with the stated aim of modernising the UK tax administration and policy development.

The HM Treasury announced a broad consultation in January 2021 to strengthen the international competitiveness of the UK asset management industry. In the process, HMRC has been given additional enforcement powers and the UK equity market shall be made more attractive for tech and SPACs in the future.

The United Kingdom is aiming at reducing ties with EU VAT rules by shortening the filing deadline for input VAT recovery claims of EU businesses to 31 March 2021.

Hansuke Consulting in cooperation with WTS Global and FIDAL invite you to join in the webinar "Brexit from DAC6: The FS Impact" on 3 February, 11.00 am CET.

From 1 January 2021 companies and advisors will have to make reports to HMRC in accordance with the International Tax Enforcement (Disclosable Arrangements) Regulations 2020 which implements EU Directive 2018/822, more commonly known as DAC6.

Hansuke Consulting and WTS Global invite you to join in the lively debates on the latest DAC6 developments in six upcoming webinars.

Making Tax Digital for VAT (MTD) is the UK’s attempt to ensure that all VAT records and submissions are electronic.

The UK is pressing ahead with its Digital Services Tax (DST) from April 1, 2020.

No-deal Brexit: assignees and their employers could face a double charge

The digital link requirement come fully into force until March 31, 2020

This week saw the 2018 UK Budget which signalled the end of austerity measures