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Two weeks to 14 November 2019

Welcome to our latest update on recent developments in international and treasury tax of interest to multinationals operating in the UK.

Brexit insights
We continue to update our material, so you can follow how Brexit is now expected to unfold and identify what you should be doing to prepare:

The Digitisation of Tax Compliance
From 2007 to 2012 there were only 5 ‘data-led’ tax compliance obligations in Europe. The rate of adoption has since tripled with a further 24 requirements, including the UK’s Making Tax Digital, in the period up to 2020. So what can multinationals do to ensure their data is robust and systems able to comply with these obligations? Read more.

Cryptoassets: tax for businesses
HMRC has issued a policy paper explaining how it will tax transactions involving crypto-asset exchange tokens that are undertaken by companies and other businesses (including sole traders and partnerships). It does not apply to the issue of tokens under initial coin offerings or other similar events.