Selfridges losses narrow amid calls for return to VAT-free shopping Retail The net loss for the year was £38.9m a stark improvement from an £83.9m dip it posted in the same period last year.
Love it or loathe it, VAT free shopping only makes our tax system even more unwieldy Ben ramanauskas If you want to give luxury stores a leg up at the expense of local businesses and create an even more complicated tax system - VAT free shopping is for you, writes Ben Ramanauskas.
Mulberry feels the chill of recession as boss calls for VAT-free shopping to boost tourist sales luxury retail High-end accessories retailer Mulberry is beginning to feel the effects of the cost of living crisis and recession in the UK, with sales and revenue slipping over the past six months. Sales at its London stores on Bond St and Regent St have been hit hard by affluent tourists from the US and the Arab [...]
VAT free shopping U-turn ‘major blow’ for West End as tourists shun London for Paris and Milan October 17, 2022 Scrapping VAT free shopping for tourists is a “major blow” for London and the country’s economy, a group representing luxury stores in the West End and other retail hotspots has said. Paul Barnes, chief executive of the Association of International Retail (AIR) – whose members range from Bicester Village to Heathrow Airport – told CityA.M. the [...]
Khan’s call to re-introduce VAT-free shopping backed by retailers who claim it would lure 1.5 million more tourists to London February 1, 2023 Kay Buxton, chief executive of Marble Arch London BID, said that Chancellor Jeremy Hunt “missed a trick” at the last Budget by not reintroducing tax-free shopping, noting that the move could have increased spending by £2.1bn.
Heathrow: Britain has ‘shut the door’ on home-grown growth with tourist tax February 12, 2024 Britain has "shut the door" on home grown growth by abolishing VAT-free shopping for overseas visitors, Europe's largest airport has warned.
We were never going to have a great British bonfire of the tax system after Brexit August 15, 2023 We have neglected to reintroduce VAT-free shopping for foreign tourists, doubtless to squeals of delight from shopkeepers in Milan or Paris.
Mulberry: Chief calls to scrap London tourist tax as losses widen November 30, 2023 Thierry Andretta, said that a weak economic outlook is impacting the entire luxury industry and called for UK government to bring back VAT free shopping for international tourists
Tourist tax means UK is missing out on £1bn ‘Brexit boost’, MPs warn September 7, 2023 Britain is missing out on a £1bn pound “Brexit boost” for as long as it fails to reinstate VAT-free shopping for international tourists, MPs have warned.
Europe capitalising on UK’s ‘tourism tax’ as retailers call for overhaul May 24, 2023 International tourists are spending more in Europe than in the UK as Britain’s retail sector continues to be hamstrung by the government’s decision to scrap VAT-free shopping, members of the House of Lords warned yesterday.