Today is budget day. Take a look at the predictions from DWF's tax team around what it might mean for retail businesses:
- A change to the VAT rules on vouchers and gift cards issued from 1 January 2019 will happen.
- A revenue-based digital services tax for online businesses, primarily aimed at social media providers, is likely to happen.
- An announcement requiring overseas sellers using online platforms to collect and return a portion of VAT may happen.
For retailers this could mean more hassle, more cost, more risk. We will have more detail and a round-up from the budget in next week's edition but as always please get in touch with our retail team if you have any questions.
Proposals to ban one-trip plastics: The Department for Environment, Food and Rural Affairs has launched a consultation on a proposed ban on use of plastic for drinking straws, cotton buds and drink stirrers – Closes 3rd December.View >
Online age verification:The Office for Communications has launched a consultation proposing alignment of age verification rules for on-demand services with those recently published by the British Board of Film Certification – Closes 3rd December. View >
Shaping future regulation: Greg Clark, Secretary of State at the Department for Business, Energy and Industrial Strategy chaired the first meeting of a new ministerial working group to focus on innovation and regulation. The group which is meeting quarterly aims to strengthen the Government’s horizon scanning for emerging regulatory challenges arising from innovative products, services and business models.
Commission departments to develop regulatory reform proposals to enable innovative products, services and business models, promote action by regulators to develop innovation-enabling regulatory approaches, to seek to resolve complex regulatory issues that cross sectoral, departmental or regulator boundaries and drive the exchange of best practice in innovation-enabling approaches across Whitehall. View >
Upcoming DWF Events
Food Brexit Conference: Catch DWF's Dominic Watkins and Vassilis Akritidis speaking at this conference providing the food & beverage industry with a platform to share strategy, insight and knowledge, to deal with the challenges of Britain’s exit from the EU: London, 1 November 2018. Find out more
Leisure Expert Panel's 4th Annual Conference: An annual conference for the UK's leading experts within the sector. DWF's Dominic Watkins is discussing safety issues within the industry: London, 13 November 2018. Find out more