Rishi Sunak is considering a new online sales tax amid mounting concern about collapse of high street
Treasury believes levy on sale of goods could provide a 'sustainable and meaningful revenue source for Govt and help bricks-and-mortar retailers compete
Treasury believes levy on sale of goods could provide a 'sustainable and meaningful revenue source for Govt and help bricks-and-mortar retailers compete
Treasury says thatthe pandemic has 'had significant impact on how business is done' and Govt must ensure the 'tax system raises sufficient revenue to fund public services'
It highlights concerns from retailers that business rates impose an 'unreasonable burden' on high street
It highlights concerns from retailers that business rates impose an 'unreasonable burden' on high street
I'm told Govt is looking at two models:
A straightforward levy of around 2% on sales of online goods, which would raise around £2bn a year
A mandatory charge on consumer deliveries, which would form part of campaign to cut congestion and toxic emissions
A straightforward levy of around 2% on sales of online goods, which would raise around £2bn a year
A mandatory charge on consumer deliveries, which would form part of campaign to cut congestion and toxic emissions
Govt is also looking at a much more radical idea - scrapping business rates entirely and replacing them with a 'capital values tax'
The tax would be based on the value of land and the buildings on it, and paid by the property owner rather than the business leasing it
The tax would be based on the value of land and the buildings on it, and paid by the property owner rather than the business leasing it
