The Temporary VAT Rate Cut in the UK
UK has announced a temporary cut to the VAT rate from 20% to 5% on supplies of food, accommodation and attractions from 15 July to 21 January 2021.
Deferral of VAT payments of the UK companies due to COVID-19
After the Chancellor’s announcement on 20 March 2020, if you are a UK VAT registered business and have a payment due between 20 March 2020 and 30 June 2020 (VAT quarters ending February, March and April) you have the option to: defer the payment until a later date make the VAT payment as normal…
The deadline for Finnish annual report has changed due to COVID-19
Finnish Tax Administration (Vero) extended the deadline for submission of annual reports and tax declarations for the fiscal period of 1 January – 31 December by one month, the new deadline being 31 May 2020. Since 31 May is Sunday, the documents can also be submitted on Monday, 1 June 2020. Extension of the deadline is applicable for both, Finnish and foreign companies who have the tax obligation in Finland.
Important news for companies operating in Sweden
We would like to share some latest news and updates that affect many entrepreneurs and companies operating in Sweden. Corporate Income Tax Rate decreased from January 1st 2019 From January 1st the Corporate Tax Rate in Sweden decreased from 22% to 21,4%. From January 1st 2021 the rate will decrease even more, to 20,6%.…
E-Residents: Start an Estonian company with a bank account from Wise
Setting up your Estonian company with its own bank account details is now much easier with 1Office’s recent cooperation with international money transfer provider Wise. Customers can now establish a company, open a bank account and add other necessary services from one place. And all this can be done online and with only a few…
Annual report deadlines
Submitting annual report is mandatory for all the companies registered in Estonia, Sweden, Finland, United Kingdom, Latvia and Lithuania. This applies even if the company didn’t have any activities during the financial year. Therefore we have prepared a little overview about the deadlines and prices of annual reports in countries where we operate in. Annual report deadline and…
UK tax system going through a change: Making Tax Digital for VAT
The UK government and HMRC have the ambition to become one of the most digitally advanced tax administrations in the world. As of today, every individual and business in UK already has access to their own personalized digital tax account. The personal tax account can be found in gov.uk website and you need to have…
The GDPR influence for Finnish companies: sending out salary slips
As you probably know already, the new EU Data Protection Act, widely known as GDPR is enforced on 25th of May. In one way or another it concerns all businesses who have access to personal data of their clients. All companies should make sure they are GDPR compliant and we in 1Office have been working…
Here’s why tax evaders are disappointed in Estonian e-Residency
Dmitri Jegorov, the Undersecretary for Tax and Customs Policy at the Estonian Ministry of Finance and member of the High-Level Working Party on Taxes at the EU Council, wrote a blog post for E-Residency blog. The original article can be found here. Estonia has a transparent business environment that provides trust to legitimate entrepreneurs.…
Changes in Estonian tax system from 2018
In 2018 several changes come into force in Estonian tax system and almost every company and person will be influenced by the changes to some extent. Changes for companies Starting next year companies will have tax rates of 20% and 14% for taxable distributable profit and non-taxable profit. Read more here. For company…