VAT for retail and consumer goods companies

Trading on the high street or on-line, globally or in the UK? Are you maximising value for both you and your customers? Are you paying the right amount of tax? Is compliance becoming a burden? Is your supply chain tax efficient?

In the competitive world of retail & consumer ever narrowing margins often result indirect tax being the difference between success and failure, profit and loss.

Retailer and Consumer businesses must contend with constant supply chain and cost pressures stemming from global instability, political uncertainty, volatile currency exchanges and multi-jurisdiction tax regimes and trade agreements. Moreover, with evolving digital channels and enhanced logistical solutions, global borders are shrinking and barriers to new markets are reducing. As a result customer choice, market competition and overall price pressure has never been greater.

Against this market backdrop, it is more important than ever that the cost and potential reputational risk associated with indirect tax is managed effectively to ensure it does not present an unforeseen cost and place the business at a competitive disadvantage. 

Businesses must consider their end to end supply chain, from the point of purchase to the final sale to the consumer and ask themselves - am I compliant in each territory? What is the cost of my compliance, can I streamline the process through better resourcing/technology or outsource it entirely? Am I paying and charging the correct rates of indirect tax to my suppliers/customers? Am I benefitting from the reliefs available? Can better management of indirect taxes give me a competitive advantage, reduce my costs and improve my margins? 

Contact us

Jim Wilkinson

Jim Wilkinson

Tax Leader for Retail and Consumer and Northern Leader of Indirect Tax, PwC United Kingdom

Tel: +44 (0) 07740 639855

Follow us