Guardian Unlimited logo Guardian Unlimited 1 month ago

High street retailers gloomy about possible 20% VAT rate

Retailers have begun to express fears that there could be an increase in VAT to 20% next year – and maybe even an extension of the tax to food, albeit at a lower rate – dealing a severe blow to the high street just as a recovery appears in sight. Full Article at Guardian Unlimited

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  1. LONDON, ENGLAND - NOVEMBER 26:  General view of shoppers walking past the entrance to the Marks & Spencer store on Oxford Street on November 26, 2009 in London, England.
  2. FILE -- Morrisons' supermarket CEO Marc Bolland, seen in this March 15, 2009 file photo, was named by retail giant Marks & Spencer, Wednesday Nov. 18, 2009,  to take over as it's new chief executive next year.
  3. LONDON, ENGLAND - NOVEMBER 13:  A general view at the launch of the Marks & Spencer penny bazaar on November 13, 2009 in London, England. Two million items are to be sold for just 1p each as Marks & Spencer marks 125 years since the company began.
  4. LONDON - MAY 06:  Sir Stuart Rose, CEO of Marks & Spencer retail chain, poses with single use plastic carrier bags outside Marks & Spencer store on Oxford Street on May 6, 2008 in London, England.
  5. This satellite image taken Saturday Sept. 26, 2009, provided by GeoEye shows a facility under construction inside a mountain located about 20 miles north northeast of Qom, Iran.

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