Business news and opinion from Evans Weir

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The breaking point for pensions?

Since the pension triple lock was first introduced in 2010, the economic circumstances have always meant that it’s a manifesto commitment that any party is willing to stand behind, after all, who wants to be the political party that alienates the ‘grey pound’?

But in 2023, off the back of double-digit price inflation and significant pay increases, the triple lock is looking like an expensive policy for the government to apply.

Making Tax Digital

When is the VAT Rate not the VAT Rate?

It’s an interesting question isn’t it. In the UK we’re used to things being relatively cut and dried when it comes to VAT. There is the prevailing rate (currently 20%), zero rated VAT, (0%), VAT exempt (equally 0% but needs to be identified differently to Zero rated) and then the odd few idiosyncrasies such as energy at 5%. But by and large, the overwhelming majority of transactions will be either standard rate, 20%, or zero rated, 0%. That is unless you deal with someone like Amazon, who, it would appear, have been able to agree some of their own rates with HMRC.