HMRC
This coverage examines HMRC’s impact on the UK retail sector, focusing on tax policies, regulatory changes, compliance requirements, and enforcement actions. Reporting highlights how HMRC decisions affect retail operations, financial planning, and workforce management, providing insights for executives, finance managers, and professionals navigating fiscal and legal obligations in the retail industry.
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Mar- 2024 -5 MarchFeatures
What are the effects of VAT taxes on the tourism industry?
The term “tourism tax” has recently been used to refer to taxes imposed on goods and services supplied to international tourists. Up until 31 December 2020, VAT-free shopping enabled international visitors in the UK to get a VAT refund on goods purchased in the UK, making them 20% cheaper. Recently,…
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Feb- 2024 -26 FebruaryClothing & Shoes
Frasers appoints four new directors
Frasers Group has announced the appointment of four new directors to its board. David Al-Mudallal, chief operating officer at Frasers and Ger Wright, managing director of Sports, have joined the board as executive directors following their “significant contribution” to Frasers Group in their existing roles. Al-Mudallal joined the group in…
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Oct- 2023 -17 OctoberAdvice
Navigating retail taxation: A comprehensive guide
For retailers in the United Kingdom, understanding and managing retail taxation is paramount to maintaining compliance and financial stability. The UK tax system is complex, with various regulations governing sales tax, income tax, and other related obligations. In this feature, we will provide a comprehensive guide for retailers on how…
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5 OctoberNews
Oxford Street American candy store numbers drop amid council crackdown
The number of American candy stores on Oxford Street has dropped from 29 to 21 following a crackdown by Westminster City Council, according to a new Westminster’s overview and scrutiny committee report. Earlier this year, Westminster City Council further campaigned against US-style candy and souvenir stores by appealing directly to…
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Aug- 2023 -17 AugustEconomy
Over 550,000 SMEs struggle to pay tax bills, study finds
More than 550,000 small and medium-sized businesses are currently struggling to pay tax bills, according to new research from Premium Credit. The study that was carried out by the provider of finance for companies found that the rising cost-of-living is adding to the pressure, yet issues with tax have been…
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4 AugustEconomy
Retail sector accounted for 16% of UK administrations in 2023, study finds
The retail sector accounted for 16% of administrations in the first six months of 2023 – the highest industry in the UK, according to analysis by full-service law firm Shakespeare Martineau. A total of 759 businesses, 118 of which came from the retail sector, filed for administration between 1 January…
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Jul- 2023 -3 JulyLuxury Goods
The Vampire’s Wife served winding up petition by HMRC
The Vampire’s Wife has been issued with a winding up petition from HMRC on Friday (30 June), according to filings from The Gazette, due to debt built up during the pandemic. The company, which was founded by designer Susie Cave, has a hearing set to take place at the Royal…
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Jun- 2023 -21 JuneHigh Street
WHSmith, M&S and Argos ordered to pay underpaid staff
WHSmith, M&S and Argos have been ordered to pay unpaid wages to thousands of staff following an investigation from the Department for Business and Trade (DBT). WHSmith have been ordered to pay over £1m to over 17,000 workers after a policy making staff supply their own uniform caused their wages…
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6 JuneOnline & Digital
Taxpayer money spent on Amazon hits ‘record-breaking’ £222m
Taxpayer cash spent on Amazon hit a “record-breaking” £222m last year, according to a new report commissioned by GMB Union. The amount of central government, local government and NHS money spent on the internet giant in the calendar year 2022 rose by 69% against the prior year, reaching the highest…
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May- 2023 -25 MayNews
Westminster calls for landlords to end Oxford Street candy shop leases
Westminster City Council is taking its campaign against US-style candy and souvenir stores further by appealing directly to freeholders and long leaseholders to oust any tawdry tenants from their buildings. Leader of Westminster City Council, Cllr Adam Hug, has written to 19 major property groups, whose properties house 26 US…
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