- Bolt has warned Rachel Reeves about the potential 20 percent VAT hike for taxi firms.
- Bolt has withheld 200 million pounds of investment in the UK over the past three years due to the uncertainty surrounding the VAT issue.
- Taxi firms are facing a possible 20 percent additional VAT charge on fares.
- Critics argue that the tax increase would lead to higher fares and lower driver earnings.
- Uber is seeking a ruling on contracting arrangements at the Supreme Court in July.
- Bolt’s letter warns that the Uber ruling could make private hire services more expensive and less accessible.
- The Treasury launched a consultation on the issue last summer but has not reached a resolution.
- Bolt argues that the current system is unfair and inconsistent.
- Bolt believes that the uncertainty over VAT is harming the UK’s economic growth.
Source: uk.finance.yahoo.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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