Media and politics

The two contenders to be the next Conservative party leader – and the next Prime Minister – both announced additional proposals for tax cuts this week, as ballot papers went out to the 160,000 party members.

The draft Capital Allowances (Structures and Buildings Allowances) Regulations 2019, which were laid before Parliament on 17 June, were approved after a short debate on the floor of the House of Commons this week. Labour did not vote against the measure, preferring to wait to scrutinise the guidance when HMRC publishes it later this year.

Our regular update of tax and customs-related developments in secondary legislation.

A CIOT/IFS debate on taxing commercial property asked whether it was time to retain, reform or replace business rates.

A short debate about differential rates of beer duty was held in Westminster Hall this week.

This order narrows the scope of the UK’s reduced rate of VAT for installations of energy-saving materials in residential accommodation, with effect from 1 October. There will be two changes that will impact on UK consumers

The National Insurance Contributions (Termination Awards and Sporting Testimonials) Bill has passed its first hurdle in the House of Lords, gaining a second reading and being committed to a Committee of the Whole House

The two contenders to be the next Conservative party leader – and the next Prime Minister – continued their campaigns this week. Both former foreign secretary Boris Johnson and the current foreign secretary Jeremy Hunt spoke less about tax this week than in previously weeks. They have to convince the 160,000 party members to vote for them, with the final result to be announced during the week of 22 July. There will be a head-to-head debate on ITV on 9 July. 

In his short speech at this year's CIOT's parliamentary reception on 25 June 2019, the new Financial Secretary to the Treasury Jesse Norman said he intends to draw on CIOT’s insights ‘heavily’ during his time in the role.

The Treasury Committee this week continued its inquiry into business rates to scrutinise how government policy has impacted business.