- Online mini cab firms in London can no longer use the tour operators margin scheme (TOMS) for VAT.
- This change addresses an unfair VAT advantage over traditional black cabs.
- The government expects to raise an additional £700 million in VAT revenue from this move.
Source: claritaxnews.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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