As 2022 gets underway, I’ve been reflecting on the first year of EY’s Future of VAT in the UK campaign and what comes next. Twelve months ago, I and my colleagues were preparing to launch our first survey, knowing that the UK was at the beginning of a really important time of change for VAT, not least due to the end of the Brexit transition period. Despite a few high-profile announcements, like the reduced rate for women’s sanitary products and the extension of the temporary reduced rate for hospitality, 2021 actually ended up being a relatively quiet year for VAT. However, this apparent lack of activity hasn’t changed our view that we are at the beginning of a key decade for VAT in the UK.
Source David Reaney
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