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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Sep- 2019 -17 SeptemberHigh Street
One in 20 workers not receiving holiday pay, research reveals
Around one in 20 workers in the UK are not receiving any holiday entitlement, according to a recent study by think tank the Resolution Foundation. The report found that 4% of workers in the wholesale, retail and motor services sector say they have no paid holiday entitlement, amounting to approximately…
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Aug- 2019 -13 AugustEconomy
UK can avoid no-deal ‘Brexit chaos’, says Next CEO
Next CEO Simon Wolfson has said he believes that the UK will avoid “serious disruption” in the case of a no-deal Brexit. Speaking to the BBC’s Today Programme, Wolfson, who supported the Leave campaign in 2016, believes a no-deal Brexit will only lead to “mild disruption”. He said the government’s…
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9 AugustGovernment
Gove orders HMRC to support SMEs in the event of no-deal
Ministers including Michael Gove have ordered HM Revenue & Customs (HMRC) to support “cash-strapped” small business in the event of a no-deal Brexit. Representatives from 19 of the UK’s largest business federations met with ministers at No 10 yesterday (8 August) to discuss how to accelerate “business preparedness” for leaving…
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Jul- 2019 -8 JulyHigh Street
Select owed creditors £53m after entering administration
Fashion retailer Select “owed creditors £53.1m” to landlords and the Her Majesty’s Revenue and Customs (HMRC) following the company’s administration in May. The retailer filed for administration in May, after it made a loss of £15.5m on sales of £117m in the 18 months to 2 December, according to accounts…
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Jun- 2019 -18 JuneHigh Street
Former BHS owner in court over tax evasion allegations
Former BHS owner Dominic Chappell is to appear in court today (18 June) on accusations of tax evasion in relation to a finance company at which he was the director. Chappell is due to appear at the City of London Magistrates Court, facing three charges of cheating the public revenue…
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13 JuneAdvice
Six tips to utilise the government’s R&D tax credit scheme
Research and development (R&D) tax credits are a government incentive designed to reward UK companies for investing in innovation. However, many retailers are not aware of the full extent of the areas that qualify as R&D and could potentially be missing out on thousands of pounds worth of tax credits.…
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Feb- 2019 -18 FebruaryGovernment
BRC hits out at HMRC over ‘unreasonable’ pay rules
The British Retail Consortium (BRC) has demanded HM Revenue and Customs (HMRC) ceases action against retailers who have breached pay rules deemed “no longer fit for purpose” by the trade body. Retailers called the minimum wage regulations and chasing from the taxman “unreasonable” while the regulations are under review by…
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1 FebruaryHigh Street
Oddbins falls into administration
Off licence chain Oddbins has fallen into administration with parent company European Food Brokers (EFB) blaming the deterioration of the high street, Brexit and “economic uncertainty”. Duff & Phelps has been appointed to run the business and help it to find a buyer. Oddbins has 45 outlets across the UK…
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Jan- 2019 -25 JanuaryClothing & Shoes
Clothing manufacturers are failing to pay minimum wage, inquiry finds
British clothing manufacturers have been forced to pay almost £90,000 to employees for non-payment of minimum wage, following an HMRC investigation. Data from HMRC, sent to the Environmental Audit Committee as part of its inquiry into the sustainability of the fashion industry found that a 126 workers were underpaid over…
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2 JanuaryHR
Iceland facing £21m bill over Christmas savings scheme
Iceland could be hit with a £21m fine as the HMRC has said the supermarket’s Christmas savings scheme meant its workers were being paid less than the minimum wage. The scheme allows workers to set aside a proportion of their weekly wage to be claimed back later, but CEO and…
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