Webinar recording – Review of the Subsidy Control Act
28 January 2025
This webinar covered what has worked well, how have public authorities adapted to best effect to navigate the new regime, and what is ripe for reconsideration.
The Labour government's pre-election manifesto contained a broad pledge not to raise taxes. It did, however, explicitly set out a small number of exceptions. One of these was a commitment "to close the carried interest loophole" and raise more tax from private equity and other long term fund managers. The manifesto was very light on how this would be achieved but one budget and a consultation later, the picture is much clearer, although full details will need to wait until draft legislation is published soon.
With the growth in popularity of the e-cigarette "Vapes" in the UK, the past decade has seen an increase in the trading of illegal and untaxed vape products. Having already sought to combat similar non-compliance and crime in the alcohol and tobacco markets through efficient supply chain tracking and taxation laws the Government is now introducing the same for vaping products.