The US tech giant took significant amounts of warehouse space last year amid the ecommerce boom
3 March 2021 • 8:00pm
Amazon looks set to emerge as a key beneficiary of Britain s new tax super-deduction thanks to a major ramping up of its UK warehouse footprint, even as the Government wrangles with how to get Big Tech to pay more tax.
The latest tax measure, announced on Wednesday, will allow companies investing in new plant and machinery assets to deduct 130pc of that investment from their taxable income for the next two years.
This means they would be able to cut their tax bill by up to 25p for every £1 that they invest. It is expected to include investments that companies make on fitting out warehouses.
Fast fashion founder set for huge payout from stock market float
The man behind In The Style owns 40pc of the company, which is set for a £100m listing
Adam Frisby of In The Style, with Billie Faiers
Credit: The Daily Telegraph
The 33-year-old founder of In The Style, an online fast fashion website, is in line for a bumper payday as it explores a £100m stock market listing.
Adam Frisby, who set up the retailer in 2013, currently owns 40pc of the firm. He is understood to be seeking to sell a small proportion of his shares in the float, likely becoming a millionaire in the process.