x-in-man Posted February 20 Share Posted February 20 (edited) https://www.manxradio.com/news/isle-of-man-news/biggest-retailers-to-pay-manx-tax-on-local-profits/ From years ago - but they probably still pay tax now. Edited February 20 by x-in-man Quote Link to comment Share on other sites More sharing options...
John Wright Posted February 20 Share Posted February 20 21 minutes ago, Gladys said: Don't Tesco pay VAT generated here to IOMC&E. Not sure about corporate tax as companies, generally, aren't subject to tax here. Doesn’t matter where the VAT is paid as it’s divvied up in accordance with the VAT and Duty sharing agreement ( FERSA ). Tax on retail was 10% on profits, generated in IoM, above £500,000. In case of Tesco it already pays, so any profit from ex Shoprite will be taxed. The rate went up to 15% today. For Tesco, apart from the accountancy, it’s cost neutral. The UK HMRC allows them to set off against UK tax liability. So if Tesco is taxed at 25% in UK on its profits wherever arising, it only pays 10% on its Manx generated profits to the UK because it’s already paid 15% here. 2 Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted February 20 Share Posted February 20 1 hour ago, IOM said: I think it’s a very complex picture. Castletown Express is circa +15% on a standard Tesco store across and roughly +10% on Lake Road it varies on different products I suspect there is no set formula . Obviously Aldi price matched lines will be the same but we know that they only represent a small proportion of the range . It will be interesting to see how Tesco compare on value to Coop and even M and S on some products when all the conversions are complete . Lake Road is probably nearer to standard store prices across than that. Some items do differ, but less than 5 years ago. But I could see than changing. I don't think Aldi price match is used in any Express stores. The only thing that will be guaranteed to be the same as Lake Road will be Manx milk as that's fixed price by law. Quote Link to comment Share on other sites More sharing options...
La Colombe Posted February 20 Share Posted February 20 On 2/19/2024 at 5:59 PM, Hairy Poppins said: Robinsons is gone. Don't think so. Quote Link to comment Share on other sites More sharing options...
Hairy Poppins Posted February 20 Share Posted February 20 15 minutes ago, La Colombe said: Don't think so. It's gone from stores once they are refurbished to become Tesco. Quote Link to comment Share on other sites More sharing options...
IOM Posted February 20 Share Posted February 20 52 minutes ago, Roger Mexico said: Lake Road is probably nearer to standard store prices across than that. Some items do differ, but less than 5 years ago. But I could see than changing. I don't think Aldi price match is used in any Express stores. The only thing that will be guaranteed to be the same as Lake Road will be Manx milk as that's fixed price by law. I think currently an awful lot of products in Lake Road are 5p more expensive than across . Quote Link to comment Share on other sites More sharing options...
Hairy Poppins Posted February 20 Share Posted February 20 2 hours ago, IOM said: I think currently an awful lot of products in Lake Road are 5p more expensive than across . Examples? Quote Link to comment Share on other sites More sharing options...
GD4ELI Posted February 20 Share Posted February 20 3 minutes ago, Hairy Poppins said: Examples? Didn't Tesco state that there could / would be a slight surcharge due to higher shipping costs from the motherland to the rock? Quote Link to comment Share on other sites More sharing options...
CrazyDave Posted February 20 Share Posted February 20 4 minutes ago, Hairy Poppins said: Examples? Literally the first random brand name I though of, and a random Uk store 1 Quote Link to comment Share on other sites More sharing options...
Hairy Poppins Posted February 20 Share Posted February 20 Just now, GD4ELI said: Didn't Tesco state that there could / would be a slight surcharge due to higher shipping costs from the motherland to the rock? They said it was a possibility. I'm interested if it has happened. 1 Quote Link to comment Share on other sites More sharing options...
IOM Posted February 20 Share Posted February 20 3 minutes ago, Hairy Poppins said: Examples? Muller corners 95p here 90p across Medium eggs 160 versus 150 ( clearly double the 5p) Heinz beans 145 versus 140 Tesco bread 80p versus 75p Jaffa cakes 130 versus 125 You get the idea ! 1 Quote Link to comment Share on other sites More sharing options...
finlo Posted February 20 Share Posted February 20 I wonder when the penny will drop? 1 Quote Link to comment Share on other sites More sharing options...
Manxman1234 Posted February 20 Share Posted February 20 4 minutes ago, CrazyDave said: Literally the first random brand name I though of, and a random Uk store Don’t let the truth get in the way of anyone else’s views now lol 1 Quote Link to comment Share on other sites More sharing options...
Hairy Poppins Posted February 20 Share Posted February 20 7 minutes ago, IOM said: Heinz beans 145 versus 140 £1.45 here and Whitehaven or Belfast. Quote Link to comment Share on other sites More sharing options...
CrazyDave Posted February 20 Share Posted February 20 1 minute ago, Hairy Poppins said: £1.45 here and Whitehaven or Belfast. £1.40 in Workington. Another random selection Quote Link to comment Share on other sites More sharing options...
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