Will the Conservatives steal Labour’s (tax) clothes?
A recent think-tank report proposes tax changes which could raise £120bn or more from the richest 10 per cent. At first sight, this stands in complete opposition to Conservative party thinking. Closer reading of the report reveals some ideas which the Chancellor of the Exchequer might like to adopt as his own. After all, George Osborne stole his opponents’ tax ideas so why shouldn’t Sajid Javid?
A victory for common sense – HMRC delays construction industry VAT changes
Philip Munn and Louise Cowell
In what many will see as a victory for common sense, HMRC has announced that the introduction of the Domestic Reverse Charge for transactions subject to the Construction Industry Scheme has been delayed by 12 months, until 1 October 2020. But what lessons can be learned from the last-minute change in policy?
HMRC latest U-turn could reduce VAT bill for travel and leisure operators
Philip Munn and Joanne Torrens
Travel and leisure operators have seen an increased VAT bill due to a change in policy on the treatment of retained deposits and cancellation fees; but HMRC has just highlighted a correction which could mean a reduced VAT bill for many in the sector.