Businesses warn of ‘catastrophic’ skip tax
Businesses express concern over a proposed tax hike on skips and landfill
Businesses express concern over a proposed tax hike on skips and landfill
THE INTRODUCTION of a hike in tax on skips could see as many as four companies a day close their doors, businesses have warned.
The fears were put to a protest meeting at the House of Commons, held after it emerged that the rate to put some types of rubble in landfill sites would rise from £2.50 per tonne to £64 per tonne.
The proposals have provoked concerns over fly-tipping, with critics suggesting such a hefty rise would encourage the practice, reports The Independent.
Mark Bensted, managing director of the recycling firm Powerday, told MPs: “It’s irresponsible; it’s unfair; and the implication of the rise could be catastrophic for this industry and the construction industry as a whole.”
Demonstrations have already been staged in Parliament Square by skip hire companies, with further protests planned amid fears businesses will go bust or lay off workers.
An HM Revenue & Customs spokesman said: “We responded to concerns expressed by landfill operators that some companies were not paying the right rate of tax and in the process disadvantaging those who paid the correct rate.”
More about:
The numbers you crunch tell a story. Your expertis...
12yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleAs the Spring Budget approaches, dissenters of the UK government’s increasingly complex contractor legislation are baying for change. HMRC has already...
View articleStricter controls on VAT compliance is set to shut down the “colossal” VAT tax gap. Read More...
View articleThere has been a percentage increase in the number of claims made by companies, but more needs to be done Read More...
View articleThe Targeted Anti-Avoidance Rule was introduced to prevent individuals lowering their tax liability by converting what would otherwise be a dividend i...
View articleIn 2016-17, the average length of time to settle a tax investigation rose to 34 months, up from 31 months in 2015-16. The tax authority has also incre...
View articleDiverted profits tax revenue collected by HMRC in 2016-17 totalled £281m, leaping from £31m collected in the previous year, according to data released...
View articleThe report suggests a wide range of reforms focussed on bringing together corporation tax and accounts, including creating five year roadmap for CT re...
View articleIn 2012, HMRC made 591 requests to foreign governments. In 2016, this number stood at 1096, a 7% increase on 1025 requests made in 2015 Read More...
View article