The Spring Statement was always going to take second place to the Autumn Budget but the Brexit debate grabbed the headlines anyway. Yesterday, the Chancellor had little opportunity to make policy announcements, given that Brexit may happen on the 29th of the month, or may not, or may happen but not in a form that we can see at present, or even plan for. Death is now the only certainty that we have. Certainty over taxes has been parked for the present.
Ecovis partners and specialist cryptocurrency accountants Harvex.io take over the blog today as they summarise all things crypto and how this can be treated in terms of accounting.
Read our breakdown of the key announcements from the Budget and what these could mean for you. Please get in touch with your Ecovis Advisor, or call us today on +44 (0) 207 495 2244 to discuss your business or personal circumstances.
Currently withholding tax is applicable at the rate of 20% on royalty payments and some IP related annual payments. This rate can be reduced appropriately if there are Double Taxation Agreements (DTA) in place between the countries.