Weekly tax brief | 29 June 2021

Sin taxes on Sunday roasts?
George Bull
It would not be at all surprising if part two of the National Food Strategy contained recommendations for a new tax intended to reduce the consumption of meat and dairy products. In deciding whether to accept such a recommendation, the government would have to juggle climate change commitments, industry reactions and voter sentiment.

Act now on Covid support errors: HMRC steps up compliance activity
Susan Ball & Carolyn Brown
The government has so far paid out around £80 billion in Coronavirus support to millions of people across the UK. HMRC has written to more than 60,000 SEISS (Self-employment Income Support Scheme) and CJRS (Coronavirus Job Retention Scheme) customers to ask them to check they have claimed correctly or whether, as initial checks suggest, they may have claimed too much. 

Tax return pain awaits crypto investors
Chris Etherington
Cryptocurrency investors are likely to be in for a shock when preparing their tax returns this year, as they may need to undertake complex calculations and disclose details of all their trades to HMRC, even if no tax is due.      

Why the young should have Powers of Attorney
Rachel De Souza
The Britney Spears conservatorship case has highlighted the impact loss of mental capacity can have on a person’s finances. Those in the UK should consider what would happen if they suddenly became unable to manage their own affairs.

Seller beware: the VAT flaw that may lurk in your delivery app
Sarah Halsted
Successive Coronavirus lockdowns have seen many businesses, especially restaurants and takeaway food outlets, rely more heavily on apps to sell their product to the public. Vendors should be sure to check their chosen app’s technology for a potentially expensive VAT trap.