This week's opinion

Taxation is a non-political publication. Readers will have their own views of the UK’s decision to leave the EU. From a purely tax technical perspective it will have profound changes on our tax system. This will not happen immediately – VAT returns will still have to completed at the end of the month – but in the longer term as the terms of Brexit emerge and the UK takes the economic decisions resulting from the vote. Indirect taxes such as VAT and duties will be high on the agenda. I am sure that we will end up with something very much like VAT though how it interacts with EU VAT will keep the bureaucrats happy for months.

But what about direct taxes? The EU influence on these has grown markedly in the past ten years. Take as an example furnished holiday lets. We had a straightforward regime for UK holiday...