MCV/DEVELOP News, events, research and jobs from the games industry
SCE UK has confirmed to MCV that the PS3 will not be included in a new Sony promotion that offers consumers the chance to claim back VAT on certain products purchased between October 28th and December 24th. PCR reports that the scheme, which is being run by Sony Electronics, covers …
Read More »Taxman hunts down dodgy importers
UK retailers could be left out of pocket as Her Majesty’s Revenue and Customs clamps down on corrupt distributors. Fraudulent suppliers have been buying consoles from abroad without paying VAT, then selling the machines on to UK retailers with the VAT added on top. These temporary traders then disappear, and …
Read More »Small stores pushed out by VAT rise
Independent retailers say they will struggle to stock new games when the VAT rise comes into effect next year. The already troubled indie sector says it will have to fight harder against High Street chains and supermarkets in order to break even or make a profit from the latest releases. …
Read More »Retail forced to swallow VAT hike
UK games retailers will see their margins slashed in 2011 as they are forced to swallow the cost of a VAT rise. Senior retail figures have told MCV they are reluctant to raise the price of games above the watermark 39.99 price point once the extra 2.5 per cent comes …
Read More »VAT rising to 20%
Shortly after confirming that it is to do away with tax breaks for the UK video games industry, Chancellor George Osborne has confirmed that Value Added Tax will rise to 20 per cent from January 4th 2011. Though there’s a good chance that the ticket price of video games on …
Read More »Tesco wants VAT increase delay
Supermarket giant Tesco has called on the Government to delay a rise in VAT scheduled for January 1st, according to this report on the Daily Telegraph. Set to increase from 15 per cent to 17.5 per cent, VAT was cut in November in a move to combat the recession. Many …
Read More »Government urged to delay VAT increase
Ahead of the proposed reimplementation of the 17.5 per cent VAT rate on December 31st, The British Retail Consortium has urged Government to postpone the change, Retail Week reports. VAT was dropped from 17.5 per cent to 15 per cent last year as part of the Government’s plan to avoid …
Read More »VAT cut cant stop poor December at retail
Retailers will need to use every tactic at their disposal” – that’s the message from a leading High Street analyst today as it predicts a gloomy December at retail despite Chancellor Alistair Darling announcement of a VAT drop yesterday. Synovate Retail Performance has claimed that it now expects non-food shopping …
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