Tax Allowances

(asked on 9th June 2021) - View Source

Question to the HM Treasury:

To ask Her Majesty's Government what potential tax incentives they have (1) discussed, and (2) implemented, in support of the news publishing industry.


Answered by
 Portrait
Lord Agnew of Oulton
This question was answered on 23rd June 2021

The Government recognises the important role that media organisations, including the news publishing industry, play at a national and local level. In order to support them, the Government extended the £1,500 business rates discount on local newspaper office space in England until 31 March 2025.

On 1 May 2020, the Government extended the zero rate of VAT to e-publications to support literacy and reading and make it clear that e-books, e-newspapers, e-magazines and academic e-journals are entitled to the same VAT treatment as their physical counterparts. Originally due to be implemented in December 2020, the introduction of the zero rate was brought forward as a boost for readers and publishers during the coronavirus outbreak.

The Government keeps all tax policy under review and regularly receives proposals for sector-specific tax reliefs.

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