Weekly tax brief | 14 August 2018

Will the 'Amazon tax' hit its target?
George Bull
News that Chancellor of the Exchequer Philip Hammond is considering an ‘Amazon tax’ for online retailers is further evidence of the pressure on UK Treasury tax receipts caused by low corporation tax rates and the huge swing towards Internet shopping. Will the new tax hit its target? And will it help traditional retailers?

The wait is over for EU state aid approval for EIS and VCT schemes
George Bull and Emma Milgate
Back in May, we warned about a shock lapse in the EU state aid approval for changes to enterprise investment schemes and venture capital trusts. This hold-up delayed advance assurances for companies seeking to exploit these changes for knowledge-intensive companies. The approval has now been granted but the resulting bottleneck in applications could cause delays.

New stamp duty measures – help or hindrance? 
Nick Blundell and Rachel de Souza
Measures to cool the housing market seem to be working, but with stamp duty receipts down 11 per cent on the same period last year, have they gone too far?

PAYE figures underline importance of financial services to UK tax base
Andrew Hubbard
If you ever needed to be convinced of the central importance of the financial services industry to the UK economy a glance at the latest PAYE figures gives all the confirmation you need.

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