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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May- 2023 -12 MaySupermarkets
Planet Organic owed creditors £12.5m before rescue deal
Planet Organic owed creditors more than £12.5m when it fell into administration last month, The Grocer has reported. According to The Grocer, a report from administrator Interpath Advisory revealed that more than 400 unsecured creditors will not be repaid the majority of the £8.4m owed as a result of the…
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Apr- 2023 -5 AprilFeatures
Falling into administration – should you be worried?
Since the beginning of a new decade, we have heard of many high-profile retailers such as Made, Missguided, Joules, Paperchase, M&Co and Kath Kidston fall into administration to varying degrees of success. This is no coincidence; during 2022, administrations were actually 55% higher than the previous year, according to government…
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Aug- 2022 -31 AugustNews
Boohoo warns suppliers risk further HMRC costs over polybag content
The Boohoo Group has reportedly been charged by HMRC as some of its polybags don’t have the certificate to confirm their recycled content. According to Drapers, Boohoo Group sent a letter to product suppliers on 26 August which said that this charge will be passed on to suppliers if they…
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Jul- 2022 -26 JulyPeople Moves
Matalan founder returns as chairman
Matalan has announced that its founder, John Hargreaves, will return to the company as chairman, effective immediately. In this role, Hargreaves replaces Steve Johnson, the Matalan’s executive chair, who is stepping down from the board. Johnson first joined the business as non-executive chair, and he agreed to step into an…
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25 JulyGovernment
Leicester factory workers not reporting underpayment, LPC finds
Workers in Leicester textile factories are reportedly “vulnerable to exploitation” and unlikely to report abuses and underpayment, according to a new report from the Low Pay Commission (LPC). The report examined non-compliance and enforcement of the minimum wage in Leicester’s textiles manufacturers. It comes as multiple agencies have carried out…
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20 JulyOnline & Digital
Amazon UK pays £648m in tax as revenues surpass £23bn
Amazon UK has revealed it paid £648m in directly incurred taxes last year as its revenues surpassed £23bn. As part of an update of its economic impact on the UK economy in 2021, Amazon also revealed that this figure has increased by almost a third in the past year from…
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Jun- 2022 -13 JuneClothing & Shoes
Matalan lenders eye up advisers amid talks over retailer’s future
Matalan lenders are reportedly eyeing up appointing advisors ahead of talks about the retailer’s future financing in the face of current economic uncertainty caused by the cost of living crisis. According to Sky News, Matalan’s senior bondholders are in talks with Perella Weinberg Partners to discuss options with them set…
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Feb- 2022 -21 FebruaryGovernment
Matalan founder Hargeaves loses 20-year court battle over tax bill
Matalan founder John Hargreaves has lost a long-running court battle with HMRC as he attempts to avoid a tax bill that may reach up to £135m. He has now been ordered to pay the tax bill after the Upper Tier Tribunal ruled he owes Capital Gains Tax in relation to…
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Oct- 2021 -4 OctoberClothing & Shoes
Boohoo appoints sustainability expert to board
Boohoo has appointed sustainability expert Kirsty Britz to its board as the latest non-executive director, with effect from today (4 October). She will become a member of the audit and risk committees on appointment. The online retail giant said her appointment brings additional expertise to the board, particularly in areas…
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Jul- 2021 -14 JulyHigh Street
Administrators appointed to wind up Arcadia Group
Mazars has been appointed as liquidators of Philip Green’s collapsed retail empire Arcadia Group -with the group looking to “repay key creditors”, including HMRC. Arcadia, which operated numerous high-street brands across the UK and globally, including Topshop, Burton and Dorothy Perkins, fell into administration towards the end of last year,…
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