Accountancy Insights: Inside the Industrial Strategy and navigating VAT reform
Shownotes
In this episode, we discuss the government’s new Industrial Strategy and, in particular, its sector plan for professional and business services with Iain Wright, ICAEW Chief Policy and Communications Officer. Iain is Chair of the Professional and Business Services Council, which has worked closely with government in devising the final plans.
We also met speakers at ICAEW’s How to Fix VAT conference on 18 June 2025 to learn about the complexity of the UK’s VAT system and the obstacles to reforming the tax.
Those interested in sharing their views on the Industrial Strategy can contact Iain Wright by emailing [email protected].
Time codes
00:42 Inside the Industrial Strategy
22:46 Navigating VAT reform
Links
- ICAEW: Industrial strategy – four changes to boost professional services: https://www.icaew.com/insights/viewpoints-on-the-news/2025/jun-2025/industrial-strategy-four-changes-to-boost-professional-services
- ICAEW: Industrial and Infrastructure Strategies – key measures at a glance: https://www.icaew.com/insights/viewpoints-on-the-news/2025/jun-2025/industrial-and-infrastructure-strategies-at-a-glance
- ICAEW: Government reveals ambitions for key sectors: https://www.icaew.com/insights/viewpoints-on-the-news/2025/jun-2025/government-reveals-ambitions-for-key-sectors
- ICAEW: UK government backs services in Trade Strategy: https://www.icaew.com/insights/viewpoints-on-the-news/2025/jun-2025/uk-government-backs-services-in-trade-strategy
- ICAEW: VAT hub: https://www.icaew.com/technical/tax/vat
Host
Philippa Lamb
Guests
- Iain Wright, Chief Policy and Communications Officer, ICAEW
- Max Schofield, Barrister, Devereux Chambers
- Rebecca Porter, CEO, The VAT Team
- John Whiting CBE, Former Tax Director, Office of Tax Simplification
- Yige Zu, Associate Professor, Durham University
- Dennis Lui, CEO, Tax Academy of Singapore
- Ed Saltmarsh, Technical Manager, VAT and Customs, ICAEW
Producer
Natalie Chisholm
Episode first published: 8 July 2025
Podcast recorded: 1 July 2025