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The Treasury has published a call for evidence asking for views on the government’s assessment of the VAT challenges created by the sharing economy as well as evidence of other challenges that it has not yet considered. The document states that the sharing economy has empowered individuals and business to connect with consumers and provide services to them on a far larger scale than previously possible. However, as well as creating opportunities for the UK’s economy and society through stimulating enterprise, it could potentially create challenges to the VAT tax base.
The government will use the evidence from the consultation to develop its understanding of the sharing economy and its implications for VAT.
Responses should be emailed by 3 March 2021.
