One of the skills of an accomplished Chancellor of the Exchequer is to use a single tax to achieve multiple political objectives. We review the UK’s pre-EEC experience of a purchase tax and ask whether a hard Brexit could see the introduction of a higher rate of VAT on luxury goods.

5 minutes

The Department for Culture, Media and Sport has announced how the first tranche of spending from the £1.57bn emergency recovery fund, launched in July, will be allocated. This relief package is a welcome boost to a sector. However, without further targeted measures we are in danger of retaining the country’s cultural architecture and trophy assets, but without the creative artists to put on the performances to fill them.

3 minutes

A 2 per cent Stamp Duty Land Tax surcharge will apply from 1 April 2021 on purchases by non-residents of residential property in England and Northern Ireland, increasing the maximum SDLT rate for overseas buyers to 17 per cent. Further clarity is however required on the draft legislation to understand the full impact of the proposed test of residence to be used, as anomalies could arise.

3 minutes

Airbnb will be providing HMRC with a list of people who rent out property via their app, along with the income received for 2017/8 and 2018/9. Renters who have not declared their income and are not covered by any letting exemptions should act now, before HMRC catches up with them.

2 minutes