taxation – Retail Times

ACS welcomes balanced budget

ACS (the Association of Convenience Stores) has welcomed the first Budget of the new Coalition Government. Its reaction to the main announcements are as follows: The Chancellor announced an increase in VAT to 20% from 4 January 2011 ACS chief

Tobacco tax hike will delight smugglers, says TMA

The Chancellor’s decision to raise tobacco taxation in the UK for the second time this year will benefit illicit trade, according to the Tobacco Manufacturers’ Association (TMA). Christopher Ogden, chief executive of the TMA, said: “On the 1 January 2010 the