Weekly tax brief | 28 July 2020

Tax changes alone won’t save the UK high street
George Bull
While Mr Sunak’s desire to help the struggling high street is laudable, tax changes are notoriously ineffective at correcting market imbalances created by commercial pressures. Large-scale tax changes such as the business rates review and the imposition of an online sales tax also take far more time to implement than the Chancellor has at his disposal. We assess the possibilities and suggest a quick fix which the Chancellor could implement now.

Beyond Brexit Government reveals its 2025 UK border strategy
Sarah Halsted
The government has asked for stakeholders’ views on its vision for the UK to have the world’s most effective border by 2025. But, as plans have only just taken shape to create any sort of customs border with the EU by 1 January 2021, is the government trying to run before it can walk?  

Chasing the silver pound countries compete to encourage pensioners to relocate
Rachel de Souza
Pensioners delight in having more options for relocating to a low tax environment but it’s always best to check what you might lose before you make a move.

A new Carbon Emissions Tax would not provide a united front in the fight against climate change
Sheena McGuinness
HMRC has launched a consultation on the proposed new Carbon Emissions Tax. This will replace the EU Emissions Trading System from 1 January 2021, if no link between any future emissions trading system can be agreed. A standalone Carbon Emissions Tax is a step backwards from a united front in the fight against climate change. What is needed is a deep understanding of what it means to equitably share in the burden of the climate change crisis.  

Making Tax Digital for income tax should heed the lessons from MTD for VAT
Jackie Hall 
MTD for income tax is back on the agenda – but what lessons, if any, have been learnt from the introduction of MTD for VAT?

 

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