Drapers Fashion retail industry news, trends and analysis
More than half of businesses are expected to raise prices in the next three months to help offset upcoming tax increases announced in the Autumn Budget, a new survey has shown.
tax
Taking fashion global: a guide to cross-border tax compliance
Drapers latest report is a guide to managing cross-border tax compliance, from understanding Harmonised System (HS) codes and marketplace tax rules, to managing overseas shipping and international warehouse complexities.
Superdry CEO: ‘Force Shein to pay import duty, VAT and environmental tax’
Julian Dunkerton, the founder and CEO of Superdry, says Chinese fast fashion retailer Shein is being allowed to “dodge tax” in the UK.
‘A £470m tax on regeneration’ – the new business rates burden
April’s business rates rise is creating an additional £470m of annual costs for an already stretched retail sector. Drapers' Reset Fashion Retail campaign continues to call for an overhaul of the regime to make it fairer for the industry.
Sellier CEO: ‘HMRC’s new resale rules may undermine sustainability efforts’
New tax rules for resale signify a "huge shift" for sellers and platforms, says Sellier founder and CEO Hanushka Toni.
Welsh retailers face rates hike
Business rates relief for pubs, shops and restaurants will be cut from 75% to 40%, the Welsh government’s draft budget for 2024/25 shows.
Business rate relief ‘a major boost to the high street’
The fashion industry has said the government’s £13.6bn business rate support package, announced today as part of its Autumn Statement, gives "some level of stability and certainty”.
Chancellor unveils £13.6bn business rates relief package
The UK government has announced a £13.6bn package of business rates support in a bid to help with “prices rising and growing uncertainty”, as part of its Autumn Statement.
‘Serious concerns’ about government’s mini-Budget ‘gamble’
Retailers have called the government’s mini-Budget a “gamble,” after chancellor Kwasi Kwarteng unveiled a series of wide-ranging tax cuts.
Matalan founder loses court battle over tax bill
Matalan founder John Hargreaves has lost a long-running a court battle with HMRC over his attempt to avoid a tax bill of up to £135m.
Duty-free ban a ‘major blow’ for retailers, say MPs
The Treasury Committee has demanded to see evidence behind chancellor Rishi Sunak’s decision to scrap duty free shopping for overseas visitors.
Government seeks industry views on business rates
The UK government is seeking views from retailers, representative bodies, local authorities and ratings agents for a fundamental review of the business rates system in England.