Weekly tax brief | 5 October 2021

When will the UK reach ‘peak tax’?
George Bull
Rumours of an alleged deal between Prime Minister Boris Johnson and Chancellor of the Exchequer Rishi Sunak, to the effect that public expenditure announcements in the autumn Budget might be held back in return for a tax cut before the next general election in 2023 or 2024, got us wondering. Against the background of concern that order must be restored to the public finances, where exactly might a tax cut be found?

Pandora Papers: Tax avoidance is not the real issue
Rachel de Souza
The Pandora Papers are the latest example of a major information leak from the offshore financial world. In this case, the information has brought to light the names of individuals who have acquired UK real estate via an offshore company. But is tax avoidance the real issue?

HMRC appeals to moral conscience of taxpayers
Justin Stevenson
HMRC is increasingly urging taxpayers to take a moral approach to their tax affairs. We consider an interesting example of this, involving those who have historically used an avoidance scheme, but a technicality means HMRC is unable to deny them their tax advantage.

Do HMRC’s VAT rules on listed building works stand up to scrutiny?
Sarah Halsted
At a time where housing is in short supply and environmental concerns favour converting existing or disused properties into homes over building new ones, is HMRC’s VAT relief on the ‘substantial reconstruction’ of listed buildings still fit for purpose?

Autumn Budget 2021

The Chancellor will be presenting the 2021 Autumn Budget alongside the outcomes of the recently launched Spending Review on October 27.

As anticipation grows ahead of the Autumn Budget, RSM tax experts will share their insights as to what they predict may be announced and what the outcomes of the Spending Review might mean for the future direction of the UK’s fiscal policy.

Please keep a look out for our tax experts Autumn Budget predictions, which will be made available soon.