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

Get in touch

Why not drop us a line or fill in our very quick enquiry form

Address

Lyons Leonidou, Galla House, 695 High Road, North Finchley, London N12 0BT

Phone

020 8445 0112

Email

mail@lyonsleonidou.com


Home | About us | Accounting records | Narrative reporting | Running a limited company | Disclaimer | Help | Site map | Accessibility |

© 2024 Lyons Leonidou. All rights reserved.

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