APPG on Taxation - Spring Statement Meeting - Minutes

On Wednesday 18th April, the Group hosted a meeting focusing on the Spring Statement 2018 with the Financial Secretary, Rt Hon Mel Stride MP, speaking to Corporate and Parliamentary members about upcoming changes to the tax system.

The Spring Statement (on 13th March 2018) provided an update on the UK’s economic and fiscal position, reported on progress since the 2017 Autumn Budget, and launched several consultations with relevant stakeholders at “earlier stages” of policymaking. This is in line with the Chancellor’s desire to take a longer-term, more holistic approach to policymaking that will facilitate focusing attention on key macroeconomic challenges confronting the UK.

The Statement included updates and announcements concerning business rates, skills and education, housing, transport and digital connectivity. The Chancellor also announced a series of consultations on future changes to the tax system, including on:

  • Tackling the plastic problem
  • Corporate tax and the digital economy: position paper
  • Cash and digital payments in the new economy
  • Financing growth in innovative firms: Enterprise Investment Scheme knowledge-intensive fund consultation
  • Business rates: delivering more frequent revaluations
  • VAT registration threshold: call for evidence
  • Taxation of self-funded work-related training
  • Online platforms’ role in ensuring tax compliance by their users
  • Alternative method of VAT collection – split payment

The meeting provided a chance for members to discuss taxation policy issues directly with the Financial Secretary and gain an understanding of Government thinking on the changing nature of the economy. 

This meeting was held under Chatham House Rule - as a member of the Group, if you would like to access the minutes taken at the meeting, please contact will.thomson@tfa-ltd.co.uk

Our AGM will be taking place on the Wednesday 13th June, with more details to be announced shortly. If you would like some more information about joining the Group, please email will.thomson@tfa-ltd.co.uk