The bosses of 16 major British brands have written to the Chancellor warning that the end of tax-free shopping for foreign tourists “will make the UK the least attractive shopping destination in Europe”.
The Treasury has ruled that the tax perk, which allows shoppers from outside the European Union to reclaim VAT on goods bought in Britain, will be scrapped at the end of the year.
But high-profile figures, including Nick Wheeler, founder of shirtmaker Charles Tyrwhitt, Julian Dunkerton, chief executive of Superdry, and Ewan Venters, chief executive of Fortnum & Mason, told Rishi Sunak the move will be a “hammer blow for the British fashion industry”.
