Tax on social media firms
Social media giants and other online firms could face a tax on revenues generated from UK users under plans being considered by the Treasury.
A move to tax revenues rather than profit would be an interim measure until there could be international reform of the system for dealing with digital firms.
The potential tax on revenues would apply even if the company had no physical UK presence.
The Treasury stressed that the move was still in its early stages, with no immediate plan to implement anything.