{"id":19770,"date":"2022-10-19T11:03:17","date_gmt":"2022-10-19T11:03:17","guid":{"rendered":"https:\/\/www.moorethompson.co.uk\/blogs\/?p=19770"},"modified":"2022-10-19T11:03:19","modified_gmt":"2022-10-19T11:03:19","slug":"tax-free-shopping-for-overseas-visitors-scrapped","status":"publish","type":"post","link":"https:\/\/www.moorethompson.co.uk\/blogs\/tax-free-shopping-for-overseas-visitors-scrapped\/","title":{"rendered":"Tax-free shopping for overseas visitors scrapped"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/10\/M.T.-Blog-Graphic-12.10.2022-3-1024x576.png\" alt=\"\" class=\"wp-image-19771\" srcset=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/10\/M.T.-Blog-Graphic-12.10.2022-3-1024x576.png 1024w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/10\/M.T.-Blog-Graphic-12.10.2022-3-300x169.png 300w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/10\/M.T.-Blog-Graphic-12.10.2022-3-768x432.png 768w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2022\/10\/M.T.-Blog-Graphic-12.10.2022-3.png 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<!--more-->\n\n\n\n<p>Recent plans to reintroduce tax-free shopping for international visitors in the UK have been scrapped.<\/p>\n\n\n\n<p>Last month, former Chancellor, Kwasi Kwarteng reintroduced tax-free shopping as part of his mini-Budget.<\/p>\n\n\n\n<p>However, the new Chancellor, Jeremy Hunt, repealed this measure in his fiscal statement yesterday, confirming that the Government will no longer be progressing with the scheme.<\/p>\n\n\n\n<p>Hunt stated that \u201cnot proceeding with this scheme is worth around \u00a32 billion a year\u201d.<\/p>\n\n\n\n<p><strong>What would the scheme have done?<\/strong><\/p>\n\n\n\n<p>The tax-free scheme would have allowed overseas visitors to claim a refund on the VAT paid on items purchased in stores, at airports and other departure spots, before taking them out of the country to return home.<\/p>\n\n\n\n<p>The policy was first cancelled in January 2021 as part of the Government\u2019s Brexit plan but was due to be introduced once again prior to yesterday\u2019s announcement.<\/p>\n\n\n\n<p><strong>What does it mean for the retail sector?<\/strong><\/p>\n\n\n\n<p>Many retailers are unhappy with the decision, having rallied for the return of the scheme for quite some time, insisting that tourists were spending their money in rival cities as a result.<\/p>\n\n\n\n<p>Helen Brocklebank, CEO of the British Retail Consortium, said that the scheme would have successfully delivered growth to quicken post-pandemic recovery, as well as considerably improved UK manufacturing.<\/p>\n\n\n\n<p>She continued: \u201cHaving become the only country in Europe without tax-free shopping was a significant impediment to post-pandemic recovery, risking our competitiveness, and risking stultifying a $34 billion industry.\u201d<\/p>\n\n\n\n<p><strong>Wondering how these recent changes will affect your business? Contact us for advice.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Recent plans to reintroduce tax-free shopping for international visitors in the UK have been scrapped. Last month, former Chancellor, Kwasi <a href=\"https:\/\/www.moorethompson.co.uk\/blogs\/tax-free-shopping-for-overseas-visitors-scrapped\/\" class=\"more-link\">...<span class=\"screen-reader-text\">  Tax-free shopping for overseas visitors scrapped<\/span><\/a>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[26,3,107],"tags":[],"class_list":["post-19770","post","type-post","status-publish","format-standard","hentry","category-blog","category-tax","category-tourism"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/posts\/19770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/comments?post=19770"}],"version-history":[{"count":1,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/posts\/19770\/revisions"}],"predecessor-version":[{"id":19772,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/posts\/19770\/revisions\/19772"}],"wp:attachment":[{"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/media?parent=19770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/categories?post=19770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/tags?post=19770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}