Dec 10, 2020
Treasury eyes VAT charges for gig economy firms
The Treasury is looking at ways of taxing services provided by gig economy firms such as Uber, Airbnb and TaskRabbit. Its concerns about the "Sharing economy" predate the start of the pandemic. Based on the predicted size of the gig economy by 2025, it would equate to a loss of up to £28bn a year in VAT for the Treasury. The consultation document highlighted examples of the business practices it wanted to investigate for action where "No VAT [was] being charged where it might have been in the traditional economy". The Treasury added that the review was designed to "Test the government's view of the VAT challenges the sharing economy creates".
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