Retail News

We act for a large number of retail, wholesale & e-commerce firms across all three of our offices
All non-essential shops expected to reopen from 15 June

All non-essential shops expected to reopen from 15 June

The Prime Minister, Boris Johnson has announced that all non-essential retailers in England will be able to reopen from 15 June but added the caveat that this is “contingent on progress in the fight against coronavirus”.  In addition, retailers must follow the new...

March retail sales decline due to coronavirus lockdown

March retail sales decline due to coronavirus lockdown

March retail sales decline due to coronavirus lockdown Retail sales in March decreased by 4.3% compared to 2019, according to the British Retail Consortium (BRC). Figures from Barclaycard advocated a large increase in supermarket sales as individuals began to...

Contactless spend limit to be increased; COVID-19

Contactless spend limit to be increased; COVID-19

Contactless spend limit to be increased; COVID-19 On 1 April the spending limit for contactless card payments will be increased from £30 to £45. This is an attempt to reduce the use of paper money during the COVID-19 pandemic. This decision has been made by the...

Tax Rates 2020/21

Tax Rates 2020/21

Introduction We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used. Personal tax rates As...

Hawsons are here to help COVID-19

Hawsons are here to help COVID-19

During this difficult time Hawsons are here to help and support their clients as best they can The Government has announced new measures to help businesses through this difficult time. The first being the tax helpline to support businesses affected by coronavirus. If...

Bank of England Update for Businesses and Households

Bank of England Update for Businesses and Households

Bank of England Update for Businesses and Households During this difficult time for businesses and households, the Bank of England has put together a list of sites where you can find the latest updates from the Government. The following has been circulated by the bank...

Consumer Confidence is increasing after dismal 2019 for retail

Consumer Confidence is increasing after dismal 2019 for retail

UK consumer confidence increases in final quarter of 2019 With retail sales decreasing in December and 2019 being the worst year for retail in 25 years it comes as a surprise that consumer confidence actually increased by 0.5% in the final quarter of 2019. As...

UK Retail Sales Bounce Back In January

UK Retail Sales Bounce Back In January

Retail sales on the rise After a disappointing end to 2019, British consumers began to spend again in January with sales volume increasing by 0.9% after December’s decrease of 0.5%. This increase in sales was much larger than that expected by economists and the...

2019 has been the worst year for retail in 25 years

2019 has been the worst year for retail in 25 years

2019 has been the worst year for retail in 25 years For the first time in 25 years retail sales dropped in 2019 according to the leading UK retail industry body, total sales decreased by 0.1% compared to 2018. Sales during the Christmas period were particularly weak...

Hawsons makes history after 165 years in business

Hawsons Chartered Accountants is 165 years old Hawsons Chartered Accountants was founded in the city of Sheffield in 1854 – more than 25 years before the creation of the Institute of Chartered Accountants in England and Wales – by Alfred Allott and John Hewett....

The Election Result: What are the tax implications?

The Election Result: What are the tax implications?

Tax implications of the Election Result The general election has ended and the Conservatives have secured a large majority winning 365 seats. What does this mean for tax?  How will the election result affect you or your business? Tax expert Craig Walker provides a...

UK Retail sales decrease despite going into the Christmas Period

UK Retail sales decrease despite going into the Christmas Period

UK retailers have been hit by a surprise 0.1% decrease in sales in October despite it traditionally signaling the start of Christmas period spending. City analysts had predicted a month-on-month increase because of large discounting by retailers to entice shoppers in....

Christmas Markets face extra challenges due to Brexit costs

Christmas Markets face extra challenges due to Brexit costs

Christmas Markets face extra challenges due to Brexit costs City centres will soon be transformed with the arrival of Christmas markets. However, the unpredictability surrounding Brexit means these festive features have faced extra challenges this year. The organisers...

The number of high street shoppers are declining

The number of high street shoppers are declining

Analysts are reporting that the number of shoppers purchasing on the high street has declined by around 10% over the past year in some cities across the U.K. Unsurprisingly, the main reasons cited are the continuing rise of online shopping along with concerns over...

50% of all debit card payments are now contactless

50% of all debit card payments are now contactless

50% of all debit card payments are now contactless For the first time ever, contactless payments have accounted for 50% of all debit card payments. Credit and debit card payments made in July grew 5.7% year-on-year increasing to 1.6 billion, and contactless payments...

UK retail sales drop alongside online shopping

UK retail sales drop alongside online shopping

Even though shoppers bought less online in July, British retail sales surprisingly dropped in August.  Whilst official figures have shown that Amazon’s annual promotion in July had encouraged people to spend more, figures indicate that the main two reasons why...

Consumers are now spending more on credit cards than cash

Consumers are now spending more on credit cards than cash

Debit card is currently the most popular way of paying but credit cards are now the second most popular having overtaken cash for the first time ever (data according to British Retail Consortium). However, in terms of frequency, cash is still used more than credit...

No deal Brexit will hit Small Businesses and Amazon Retailers

No deal Brexit will hit Small Businesses and Amazon Retailers

No deal Brexit will hit Small Businesses and Amazon Retailers In the event of a no deal Brexit small and medium sized firms (SME) and Amazon retailers will be especially vulnerable. CBI (Confederation of British Industry) say 40% of SMEs that trade internationally do...

Sales in department stores have risen for the first time in 2019

Sales in department stores have risen for the first time in 2019

Data from the National Office for Statistics shows that department store sales have risen by 0.2% in July which was the first rise of the year. This took place in a month where Amazon Prime Day took place on 15 July 2019 and the city economists predicted a 0.2%...

Business Rates could be changed to help High Street retailers

Business Rates could be changed to help High Street retailers

Business Secretary Greg Clark said that the role played by High Streets should be recognised and adjusting business rates “will be one way of doing that”. Experts have stated that rising business rates, the rise in popularity of online shopping and increasing staff...

Pound Drops Below $1.30 as June Retail Sales Fall

Pound Drops Below $1.30 as June Retail Sales Fall

Pound drops below $1.30 as June Retail Sales Fall There has been a surprising fall in the pound after a decrease in retail sales in June. Although the Office for National Statistics expected there to be a 0.2% rise in sales after May, it was reported that sales fell...

Making Tax Digital and VAT: are you ready?

Making Tax Digital and VAT: are you ready?

Making Tax Digital VAT: are you ready? Making Tax Digital (MTD) will commence in April 2019 under the current Government timetable.  Initially this will only be for VAT purposes, with the wider roll out of MTD having been delayed until the system has been shown to...

Tax Rates 2018/2019

Tax Rates 2018/2019

Introduction to tax rates We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used.  ...

Employing the Millennial generation

Employing the Millennial generation

Employing the Millennial generation  They appear to be gaining a notorious reputation for being flighty, demanding and difficult in the workplace. How accurate is this reputation of the millennial, and how do employers retain this “problem” generation? Millennials...

What businesses need to know about the new GDPR

What businesses need to know about the new GDPR

What businesses need to know about new GDPR The General Data Protection Regulation (GDPR) is set to come into force from May 2018. It will replace the current Data Protection Act and is the biggest overhaul of data protection legislation for over 25 years. GDPR will...

HMRC – Shopping for undeclared VAT

HMRC – Shopping for undeclared VAT

HMRC - Shopping for undeclared VAT Retailers – Currently there appears to be a HMRC control exercise, being undertaken across the UK, on all types of retailers.This exercise may involve an Inspector visiting the client’s premises. Please note: HMRC legislation states...

Input Tax – Beware of the pitfalls!

Input Tax – Beware of the pitfalls!

VAT expert Tony Nickson outlines the pitfalls to avoid when reclaiming input VAT. 1. Reclaims for purchases made before VAT registration It is important to ensure that the maximum amount of input VAT is reclaimed on your business expenditure. This includes input tax...

R&D tax incentives – don’t miss out!

R&D tax incentives – don’t miss out!

R&D tax incentives - don't miss out! Research and Development (R&D) tax incentives can provide additional tax deductions and enhanced cash flow for companies that develop new products, processes or services. Although widely available, many companies wrongly...

The Election result: What are the tax implications?

The Election result: What are the tax implications?

The Election result: What are the tax implications? The general election has ended in a hung parliament – the Conservative party have the most seats but do not have an overall majority. Theresa May has announced that she will form a government with the support of the...

Five ways technology could improve a small business

Five ways technology could improve a small business

Five ways technology could improve a small business  For small businesses, keeping up with all the latest technology can be a difficult task with the speed it moves at. From embracing augmented reality; to making use of 3D printing, we take a look at five ways...