News & Views

Jenna Cane

SHARING ECONOMY UK RESPONDS TO BUDGET 2018

Sharing Economy UK (SEUK), the trade body for the sector, has responded to the Chancellor’s 2018 Budget.

Richard Laughton, Sharing Economy UK Chair and CEO of easyCar, said:

“The Chancellor has the right ambition to make the UK the greatest place in the world to start and grow a technology business. There were some welcome announcements, but the digital services tax will bring uncertainty for the UK’s vibrant and rapidly growing sharing economy sector.

“Enabling accommodation hosts to continue to benefit from uncomplicated tax-free earnings is welcome. Plans to create future mobility zones and increase start-up and patient capital investment support are also beneficial. These should help smaller and faster growing ‘scale up’ companies in the sector to grow.

“But going it alone on a digital services tax could have an unintended impact on the sharing economy. If the UK is to break ranks with the international community, any new approach must be carefully built on evidence from a diverse range of businesses, including those in the sharing economy.”