Memo to the Chancellor: ten top tips to simplify the tax system
It’s good to hear that the Chancellor of the Exchequer Sajid Javid is committed to low taxes and a simpler tax system. To get the ball rolling, RSM’s experienced tax advisers suggest changes which they know their clients would like the Chancellor to make.
Prepare for the worst: VAT
If UK-based organisations needed a spur to accelerate preparations for a no-deal Brexit, then the release of the Operation Yellowhammer dossier over the weekend may prove to be that moment. While time is short, it is not too late to take some practical steps to reduce any disruption arising from a no-deal, at least as it pertains to VAT.
Perfect storm for the construction sector: reverse the reverse charge!
When you combine the impact of the domestic reverse charge with imports post-Brexit, potential restrictions on EU migrant labour after 31 October and forthcoming off-payroll tax changes you have to ask whether the construction sector is heading toward a perfect storm.
Is test-driving a Tesla part of your no-deal planning?
He perhaps does not realise it, but Elon Musk could be one of the surprise beneficiaries of a no-deal Brexit. The leaked ‘Operation Yellowhammer’ report predicts that Government plans for 0 per cent import tariffs could lead to oil refinery closures, job losses, strikes and disruption to the availability of fuel. In contrast, substantial tax benefits are coming in from April 2020 for electric cars so could it be time for businesses and employees to consider putting in an order?