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A number of United Kingdom food and drink products have been granted protected geographical status under UK law and European Union law. Protection of geographical indications is granted to names that indicate geographical origin both inside and outside the United Kingdom.
A business entity is an entity that is formed and administered as per corporate law [Note 1] in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service. There are many types of business entities defined in the legal systems of various countries.
In the United Kingdom, the value added tax (VAT) [1] was introduced in 1973, replacing Purchase Tax, and is the third-largest source of government revenue, after income tax and National Insurance. It is administered and collected by HM Revenue and Customs, primarily through the Value Added Tax Act 1994 .
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of the continental mainland. [21] [22] It comprises England , Scotland , Wales , and Northern Ireland .
A value-added tax ( VAT or goods and services tax ( GST ), general consumption tax (GCT) ), is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax. VAT is an indirect tax because the consumer who ultimately bears the burden of ...
Corporation tax in the United Kingdom is a corporate tax levied in on the profits made by UK-resident companies and on the profits of entities registered overseas with permanent establishments in the UK.
Business rates in England, or non-domestic rates, are a taxon the occupation of non-domestic property (National Non-Domestic Rates; NNDR). Ratesare a property taxwith ancient roots[1]that was formerly used to fund local services that was formalised with the Vagabonds Act 1572and superseded by the Poor Relief Act 1601. The Local Government Finance Act 1988introduced business rates in England ...
As of May 2024, there are 17 supermarket chains currently operating in the United Kingdom. The food retail market has been dominated by the 'big four' supermarkets – Tesco, Sainsbury's, Asda and Morrisons – who made up over three quarters of sector market share in 2010. Tesco is the largest retailer in Great Britain, with a market share of 27.5% at the end of 2022. [a] [1]