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UK Invites Input On Potential Measures For Next Budget

by Jason Gorringe, Tax-News.com, London

13 March 2018


Having moved to a single Budget each year, the UK's Spring Statement featured only prospective changes to the UK tax regime, focusing on tax settings for digital firms and a new tax on single-use plastic waste.

On the digital economy, the Government has set out its thinking on tax reform options to generate fairer tax results for those transacting with consumers via the Internet, focusing on taxation where these businesses' supplies are consumed.

Is it also seeking views on extending tax reliefs to self-employed persons and employees when they fund their own training.

On Northern Ireland, it has released a consultation paper on potentially allowing a nine percent value-added tax rate for tourism businesses, in line with the rate on offer in the Republic of Ireland. This would occur after the UK has left the European Union.

On the proposed plastics tax, the Government is seeking views on tax policy options to encourage the responsible use of plastic, focusing on such disposable plastics as coffee cups, plastic cutlery, and foam trays.

Finally, the Spring Statement confirms that the tax-free personal allowance will rise to GBP11,850 (USD16,575) from April 2018.

TAGS: individuals | environment | tax | business | value added tax (VAT) | Ireland | training | employees | budget | United Kingdom | tax reform | services | BEPS

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