Weekly tax brief | 16 March 2021

HMRC, a keen follower of social media influencers
Chris Etherington
The life of a social media influencer may seem glamorous, with some seemingly living the life of luxury in sunny, far-flung resorts. Indeed, a number of influencers may have chosen to stay outside the UK throughout the pandemic, fearing the difficulties of keeping up appearances whilst under the constraints of lockdown. However, such year-long holidays could cause severe turbulence on the trip home as HMRC eagerly await their arrival to present a tax bill.

Tax policy must play its part in delivering net-zero by 2050
George Bull
The overriding need to meet the net-zero target will not go away, but the damage done to the UK economy by Covid-19 makes it crucially important that business is provided with the right policy framework for the longest period possible in order to support the delivery of net-zero. The CBI has set a challenge that all and any tax system changes must be carefully considered against the Government’s net-zero objectives. Will the Treasury rise to the challenge on Tax Day?

Honours and checking candidates’ tax probity
Sarah Saunders
People thinking they may be offered an honour need to make sure their tax position is clean, but how far back should checks go?

The hidden, and not so hidden, costs of Brexit
Phil Munn and Andy Ilsley
Some disruption to trade arising from the UK's departure from the EU was inevitable. However, as time goes by UK businesses trading with the EU will incur increased costs over a broad category of areas including EU VAT charged on services that were previously received free of local VAT.

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