Keyword » VAT

Morrisons reveals upbeat progress amid industry wins

Retailer Morrisons has seen like-for-like sales (excluding fuel and VAT) rise by 1.4% for the half year to 31 July 2016.

Sainsbury’s underlying profits down 14%

Sainsbury's has announced a fall of 14% in underlying yearly profits in its trading update, but saw a turnaround in pre-tax profits, which were up by £620m.

Eat faces £3.6m bill for toasted sandwiches

Sandwich chain Eat has been issued with a £3.6m VAT bill after its toasties were found to be subject to the “pasty tax”. 

Morrisons reports sales drop

Morrisons reported a 2% drop in like-for-likes sales for its financial year (excluding VAT and fuel), although positive Q4 figures showed signs of recovery.

MPs back sugar tax, but industry fights back

A group of MPs has thrown its weight behind a proposed tax on sugary drinks to battle child obesity – along with other measures.

Only five days until Cupcake Championships deadline

Bakers have just five days to enter the National Cupcake Championships 2015 as we confirm events for the grand final.

Goodfellows: delighted to be let off tax charge
  (Photo:  )

Scottish baker reverses 'pasty tax' charge

Scottish craft baker Goodfellows and Steven has been let off a £65,000 HMRC ‘pasty tax’ charge.

Scottish snowballs
The snowball:
A soft marshmallow covered in chocolate and coconut
  (Photo: Credit: Madeleine Shepherd )

A snowballing victory: Scottish snowballs win VAT-free status

Scottish snowballs, made by Lees of Scotland and Thomas Tunnock, have been ruled as zero-rated on tax, after they were classed as cakes.

Subway franchisees take pasty tax fight to Europe

A group of franchisees at high street sandwich giant Subway are expected to take their fight over the pasty tax to the European Court.

Ginsters’ £100,000 government donation during ‘pasty tax’

Samworth Brothers’ director Mark Samworth has handed over £100,000 to the Conservative Party, at the same time the now-scrapped ‘pasty tax’ was announced.

'Pastygate' timeline highlights government u-turn

British Baker has compiled the key dates in the pasty-tax campaign over the past two months, which have shaped the government's decision to scrap its proposal for 20% VAT to be added to all hot takeaway bakery products.

Bakers keen to support workable VAT solution

The baking industry is keen to promote its alternative 20% tax solution to the government, saying it understands the government’s desire to reduce anomalies and raise revenue.

Greggs: tax increase will hit sales and profits

Greggs, the BB75 leading retail bakery chain, has this morning reiterated its opposition to the proposed 20% pasty tax, saying the move would cause “new anomalies” and “uncertainties”.

Pret plans for expansion

Pret A Manger revealed plans to open another 44 stores this year, after new shop openings in 2011 helped boost its profits by 14%.

In its annual results, the sandwich chain announced profits were just over £52m, with sales up 15%, last year, to £377.3m.

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