Starbucks’s retail arm gets £13.7m tax credit even as sales increase

Credit can be used to offset future bills as full-year losses at UK division widen to £41.3m and it adds 92 stores Starbucks’s UK retail arm received a £13.7m corporation tax credit last year, even as its sales increased 6% and it added more than 90 stores. The credit, which can be used to offset future tax bills, comes after losses widened to £41.3m in the 12 months to the end of September – almost matching the £40m it paid in royalty and licence fees to its parent company. Continue reading...

By Sarah Butler