End of duty-free ‘will cost billions’: Luxury goods firms including Gucci and Tiffany warn that ending VAT refunds will hit UK economy hard Rishi Sunak is ending VAT refunds for international visitors to British shops It is estimated the move could cost the economy up to £3.5billion 11 leading luxury firms have written to Chancellor … Read more
Former BHS owner Dominic Chappell has been jailed for six years after being convicted of tax evasion over the £2.2million of income he received from his £1 deal to buy the failed high street chain off Philip Green. Instead of paying the tax he knew was due, Chappell, 53, spent a fortune on a luxury … Read more
The new lockdown will ‘decimate’ the UK’s hospitality industry – and it won’t begin to recover until the spring, says manager of Manchester’s five-star Lowry Hotel Adrian Ellis has called on the government to extend furlough beyond December He also says cut in VAT to 5% for the hospitality industry should be extended Overnight stays and … Read more
Ministers facing growing pressure to U-turn over ‘mask tax’ as Labour claims failure to extend suspension of VAT payable on PPE could cost families extra £100 over next six months VAT on PPE has been suspended since May but the cut is due to end in November Labour has called reimposition of VAT a ‘mask … Read more
UK Government is blasted for refusing to extend VAT freeze on medical PPE despite daily Covid cases rising above 20,000 and hospital beds filling up An email seen by MailOnline to industry representatives from the Treasury confirmed 20 per cent VAT on PPE will resume from 31 October The increase will be passed on to … Read more
Increasing taxes to pay for the Covid crisis would be ‘an act of self-sabotage’ which would derail Britain’s economic recovery, Rishi Sunak was warned last night. The Chancellor has repeatedly signalled that tax rises will be needed to repair the battered public finances. With Britain’s national debt topping £2trillion for the first time and borrowing … Read more
Rishi Sunak must CUT and simplify taxes to revive the economy after hammer blow from coronavirus lockdown, warn economists Institute of Economic Affairs report calls on Rishi Sunak to reform tax system It suggests Chancellor can learn the lessons from recent history to boost growth Report calls for income tax to be capped at 40 … Read more
David Alexander won $10,000 on Wednesday’s episode of Big Brother: All-Stars, but he may have squandered his shot at the show’s $500,000 grand prize. During the week’s veto competition, six houseguests were asked to dive into a vat of beach inflatables and find a special T-shirt that would give them veto power. Almost immediately, the … Read more
Subway sandwiches are too sugary to meet the legal definition of being BREAD, Ireland’s Supreme Court rules The sandwiches could not be categorised as a staple food, Supreme Court ruled Due to their high sugar content, which stands at 10pc of weight of flour in dough Ruling ends a 14-year battle by the global takeaway … Read more
Red wine tsunami! The moment a 50,000-litre tanks bursts at a winery in Spain and unleashes a flood of red wine A 50,000-litre wine tank at a winery in Spain spilled its contents onto the floor A jet of wine erupted from the tank at the Bodegas Vitivinos winery in Villamalea It is believed that a … Read more