Last week Cameron Scott, a Research Fellow at Policy Exchange, posted Three questions for the Sharing Economy Review:
- Tax: Cameron argues the tax liability for people who share their items is not clear. He suggests the current Rent a Room scheme - which means the first £4,250 of income from renting a spare room is tax free - could be extended to cover other forms of sharing.
- Regulation and Trust: Cameron suggests that one way of ensuring there is a level playing field between new sharing economy services and their traditional counterparts is to reduce the regulations with which established businesses need to comply.
He also proposes that GOV.UK Verify, a new system to check the identity of users of digital government services, could be extended to allow non-government services to check their users’ identity. So a single, digital ID could be used to fill in your tax return and to join a car club.
- Opportunity for the Public Sector: Can the public sector save money by embracing the sharing economy, e.g. by replacing its car fleets with car club memberships?
You can read Cameron’s piece in full at the Policy Bytes blog. Do you agree with Cameron? Let us know in the comments, or by responding to our call for evidence.