The BVRLA and its members are supportive of HM Treasury’s work looking at the Sharing Economy. The Sharing Economy is already substantial in the UK and will continue to grow. For fair competition between the Sharing Economy and traditional businesses to exist it is vital that there is a level playing field.
The Sharing Economy should not face significantly lower taxation levels, regulatory requirements or safety standards. VAT is a key part of this framework and we would welcome further engagement with HMT on this and other areas of taxation and the Sharing Economy.