VAT

Do you know which supermarket is the cheapest in the UK?Aldi has once again been named the cheapest UK supermarket for a standard basket of groceries. However, according to the latest survey by consumer group Which?, Lidl briefly overtook Aldi last month, claiming the top spot as the UK’s cheapest supermarket for the first time since 2023. However, the lead didn’t last long. Aldi quickly reclaimed its position as the cheapest supermarket, pushing Lidl back into second place.

Fast fashion giant Shein has delivered a striking performance in the UK market. In 2024, its sales surged by 32.3% year-on-year to surpass £2.05 billion (around USD 2.77 billion). This result has already pushed Shein ahead of Boohoo and close to overtaking Asos. The figures come from a report filed by Shein’s UK subsidiary with Companies House, revealing how it has managed to win over millions of fans in one of the world’s most competitive retail landscapes.

State pension likely to rise by 4.7% in April! Temu’s UK operation doubles revenues and pre-tax profit! Reeves plots ‘taxi tax’ as borrowing costs soar

Number of countries suspending parcel shipments to the US grows to 25! More than £8bn wiped off British banks over Reeves tax raid fears! Electric cars eligible for £3,750 discount announced

Rachel Reeves needs to put up taxes to cover £40bn deficit; HMRC could claw back VAT from private school advance fee schemes; Interest rate cut to lowest level in more than two years

One of this summer’s most talked-about limited editions in the UK has undoubtedly been the strawberry and cream sandwich from Marks & Spencer (M&S). However, this viral hit has unexpectedly triggered a VAT (Value Added Tax) controversy, which could prompt an investigation by HMRC – and may even mean that some consumers have overpaid tax. Why are so many choosing to dip into their pension pots early rather than waiting until full retirement age?

The new regulations impose high-frequency, high-dimensional reporting obligations on platforms. They also introduce automatic identity and transaction data matching for sellers—signalling the end of the grey-area practices involving offshore platforms, offshore income, and missing declarations. Given the situation, many have wondered – does Hong Kong still offer a low-tax advantage for businesses?

The US administration recently announced a plan targeting more than 20 economies with the largest trade deficits with the US, claiming unfair trade practices are harming American interests. In addition, the US plans to impose a 10% baseline tariff on nearly all imports from HMRC first introduced the concept of Making Tax Digital (MTD) in 2015, with the aim of phasing out paper-based tax returns and shifting to digital submissions via approved software — ushering in a system

Selling homemade food in the UK is subject to regulatory oversight, just like opening a restaurant. You must obtain the necessary certifications, fulfil your tax obligations, and may even be eligible for tax relief.

In the recent Autumn Budget, the government officially announced a comprehensive reform of the tax policy for private schools.

Today, we’re going to delve into a common misconception that many people have when it comes to VAT registration and thresholds.

Luxury foods in the UK are usually subject to the standard rate of VAT at 20%.  So, what foods are considered luxury items?

HMRC recently launched a tax evasion crackdown on takeaway shops which were alleged to have altered their sales figures!

Investing in property in the UK is seen by many as lucrative, whether you are buying residential or commercial property.

50 KFC stores in the UK entered a dispute with HMRC over incorrect VAT payments, leading to a court case which ruled in HMRC's favour.

Did you know that opening a supermarket can indeed yield unexpected tax benefits?

The EU announced that starting from 2025, users of third-party short-term rental platforms need to pay VAT on rental income received.

Before consumers search for food, they may cough, spit, not wash their hands properly after going to the bathroom, pick their noses…

Chinese food is highly popular in the UK, especially in the realm of takeout, where it has become the preferred choice for many Britons.

If you’re living and working in the UK, or you sell online to UK-based customers, HMRC may request an audit of your finances.