Monday, September 16, 2019
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BREXIT : Tax issue for British fashion retailers

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Tax issue for British fashion industry

More than 50 British retailers including Harrods, Debenhams and Marks & Spencer are demanding  a reform of the British commercial property tax, calling the tax system outdated in a scathing letter to the Chancellor of the Exchequer, Said Javid. They request he freeze the business rates and better equip the Valuation Office Agency, which is behind in processing about 33,000 objections filed between 2016 and 2017. Business rates are among the biggest cost factors for UK retailers, which are seeing a large drop in sales.

 

BREXIT : Tax issue for British fashion retailers
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