Weekly tax brief | 10 March 2020

Long-term UK tax policy should not be a casualty of the coronavirus
George Bull
Tackling the economic consequences of coronavirus requires both fiscal and monetary intervention. While the oil price war may provide the Chancellor with cover to increase fuel duty, it is important that he does not lose sight of the long-term tax-policy needs of the UK.

What are the tax implications of coronavirus?
Sheena McGuinness
SMEs likely to be impacted by cashflow difficulties resulting from coronavirus will be hoping the Chancellor announces some temporary support in tomorrow’s Budget. But multinationals struggling with global supply shocks will also need to think carefully about transfer pricing policy in their response to the outbreak.

Coronavirus - travel and leisure sector seeks VAT support
Sarah Halsted and Philip Munn
As the coronavirus begins to affect bookings, travel and leisure businesses are looking for VAT easements from HMRC to help their cash flow. But following the Government’s unsuccessful attempt to provide time-to-pay support to Flybe, it could be a case of once bitten, twice shy.

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