There was little mention of tax in this week’s King’s Speech and the accompanying documents. The government is however considering a new tax on vapes to create a ‘smoke-free generation’. Documents published alongside the King’s Speech propose an eight-week consultation on smoking and vaping which would explore a new duty on vapes. The new tobacco and vapes bill to be introduced next month will introduce tighter restrictions on vaping to protect children and phase out the sale of cigarettes, so they can never be sold to children currently aged 14 or younger.
Separately, the Financial Reporting Council has released a press statement noting that the government’s plan to introduce primary legislation to modernise the regulation of audit, corporate reporting and governance has not been prioritised for the next Parliamentary session.
There was little mention of tax in this week’s King’s Speech and the accompanying documents. The government is however considering a new tax on vapes to create a ‘smoke-free generation’. Documents published alongside the King’s Speech propose an eight-week consultation on smoking and vaping which would explore a new duty on vapes. The new tobacco and vapes bill to be introduced next month will introduce tighter restrictions on vaping to protect children and phase out the sale of cigarettes, so they can never be sold to children currently aged 14 or younger.
Separately, the Financial Reporting Council has released a press statement noting that the government’s plan to introduce primary legislation to modernise the regulation of audit, corporate reporting and governance has not been prioritised for the next Parliamentary session.
