JTC Newsline: The impact of Making Tax Digital and VAT relief for summer
The May issue of the Construction Industry Joint Taxation Committee (JTC)'s newsletter has landed and NASC members can download it below. This issue features a summary of the impact assessment of the new Making Tax Digital. The one-sentence summary of this summary is, "probably under-cooking the estimates of cost and lots of people still to get onboard".
Elsewhere, there is reminder that the Chancellor has offered some temporary reductions in VAT between 25 June and 1 September (i.e. the summer holidays), targeted at things such as children’s meals, entrance tickets to attractions and tickets to theatres and cinemas. In theory this will be passed on in reduced prices as a way to help address the cost of living crisis.
There is also an interesting non-tax story in this issue, with a link to a call for evidence on a new government strategy for the built environment professions, trades and occupations. Sounds like one worth investigating.
