Digital Services Tax

From April 2020, the government will introduce a new 2% tax on the revenues of search engines, social media platforms and online marketplaces which derive value from UK users.

From April 2020, the government will introduce a new 2% tax on the revenues of search engines, social media platforms and online marketplaces which derive value from UK users. However, this only applies when the group's worldwide revenues from these digital activities are more than £500m and more than £25m of these revenues are derived from UK users.

Jesse Norman, Financial Secretary to the Treasury and Paymaster General, said:

'The UK has always sought to lead in finding an international solution to taxing the digital economy. This targeted and proportionate Digital Services Tax is designed to keep our tax system in this area both fair and competitive, pending a longer term international settlement.'

Internet links: GOV.UK news GOV.UK publications

xero.png
Xero Accounting Software

Xero is online accounting software for small businesses. Use Xero to manage invoicing, bank reconciliation, bookkeeping & more...

Learn more

Please call:
01851 702335

Mann Judd Gordon, 26 Lewis Street, Stornoway, Isle of Lewis HS1 2JF

Home | Contact us | Site map | Accessibility | Disclaimer | Website Policy | Mann Judd Policy | Help |

© 2024 Mann Judd Gordon. All rights reserved. Registered in Scotland; Registration number: SC336688.
powered by totalSOLUTION

We use cookies on this website, you can find more information about cookies here.