Forum Topic

demise of the High street.

Yesterday ordered a Jeffrey Archer book from Amazon  Was in Waitrose in the morning and it was advertised as £14. Came home.  Ordered it last night. It arrived 12 o'clock this morning. Hard backed, the cover inside quoted £20!  I don't know Waterstone's price. What chance at all has the high Street against these prices? A real considerable price differential.

Barbara Shillabeer ● 2607d22 Comments

What did you pay on Amazon? it's been  known for a long time that independent bookshops in particular, not just Waterstones, have a huge  problem with Amazon prices.I was talking to someone working in a shop in the High Street this week and he was telling me that landlords  can access (through Companies House) the accounts of the businesses they rent their properties too. If the  retailer is making good profits the landlord gets greedy and puts the rent up so that the profit the retailer makes is wiped out. That along with high business rates means the retailer can no longer afford to stay in business. That is why some  high streets are dying - it's not all down to online shopping.

Lucille Grant ● 2607d

I look forward to the regeneration of the High St, as highlighted on the front page here.  Even though it might be a bit disruptive, it's really good news and I hope it does make a difference.

Bunny Payne ● 2607d

I spy with my little eye only one shoe shop Clarks. Won't be able to walk soon no shoes for our feet.

Barbara Stevens ● 2607d

If you don't mind adding to the congestion problem wanting next day delivery, if you don't mind people being employed minimum wage as self employed so that no NI or pension contributions made, if your don't mind buying from a company that pays hardly any tax, then go ahead and order from AmazonIf you have a conscience then order from Waterstones for the extra price of a cup of coffeeThat's how I see itSorry, no offence meant here but why go on about the demise of the High St then order from Amazon

Emarisa Battoia ● 2607d

The cost of the book was £9.99 which is why I was quite surprised at the actual rrp.  Rather an expensive cup of coffee

Barbara Shillabeer ● 2607d

Emeritsa.  I have no particular interest in next day delivery.  It actually makes no difference to congestion whether it's next day or 2/3 weeks, which it often is, if coming from USA or Asia. Whilst people have my sympathies with lack of a good wage, that is nothing whatsoever to do with me.  I don't like certain peoples excessive wages either but equally that is also nothing to do with me.  I certainly don't appreciate Amazon's lack of paying suitable tax.  Again not my problem. I was not complaining about shops closing down in the High street.  Haven't used it for some time due to mobility problems (and no car )  M&s pulled out for not recognising customers needs. So as a consequence , for the necessities and luxuries of life I will continue to use Amazon and other companies who give me what I need and want

Barbara Shillabeer ● 2607d

Amazon have a way of offering next day delivery with their Amazon Prime service without being very clear that in return for this they will want (and take) a monthly direct debit.  I wonder how many people are inadvertently paying them a monthly retainer?Large delivery vans from courier companies add to the dangerous damage to our kerbs and pavements as our roads are often full of cars parked nose to tail making deliveries difficult.  A lot of these cars rarely move.

Philippa Bond ● 2607d

So Amazon paid £220m in corporation tax in the UK in 2018. Therefore (at 19%) this would mean profit before tax of £1.1bn. There revenue was £10.9m so a net profit of 10%. Therefore I assume there transfer pricing benchmarking which they have done will have said that an 'arm's length' level of profit in the UK would be 10% of revenue seeing as the business model etc is derived somewhere else so the profits should be taxed in that country. Personally seems fair to me .

Gabrielle O'Mahoney ● 2606d

'Their' revenue was not £10.9million at all. It was £10.9 BILLION.

Emarisa Battoia ● 2606d

Ah agreed £10.9bn but my maths was still right. £220m grossed up is £1.1bn. £1.1bn/£10.9bn = 10% which is a general transfer pricing margin for a subsidiary.

Gabrielle O'Mahoney ● 2606d

so you think its fine all of us pay 20% tax and then also 13% towards employees NI AND employees pension fundsBut Amazon only pay 10%? Really? And you wonder why people who pay for shops can't compete?If a small business owner was found to be paying just 10% tax would you say that was ok also? Doubt it

Emarisa Battoia ● 2606d

and it seems that the £220million you mention was of ALL taxes, including NI and Business Rates. Therefore this means the corporation tax was even less than 10% surely?

Emarisa Battoia ● 2606d

I grossed up the £220m at 19% (i.e. assuming 19% CT charge). 10% is the net margin that their transfer pricing study could have shown.Looking at it another way. Amazon (as a MNE) with revenue > 750m euros has to comply with country by country reporting in which the parent entity sends to their local tax authority the transfer pricing assessment which is in place. This then gets shared with all of Amazon's subsidiaries tax authorities (including HMRC). Should any authority disagree with the transfer pricing assessment which ultimately says what level of profit should be taxed in each country they would appeal against it.As far as I'm aware this hasn't been investigated.Also, a look at Waterstones' accounts shows that they actually have a corporation tax liability of 9% of their profits in 2018 so they're also not exactly paying at 19% are they?You cannot with BEPS and the OECD these days 'get away' with tax avoidance.  All transactions have to be subject to the GAAR, all cross-border transactions subject to EU-MDR.  You then also have diverted profit tax, controlled foreign company etc.

Gabrielle O'Mahoney ● 2606d

ok you winEverything that they do is ethically fair and fantasticThe high street has no disadvantage whatsoever and are being totally greedy in their protests that they can't compete with multinational companiesMy point still stands, that is what i was talking about after all, that as consumers we are all expecting things to be delivered asap for the cheapest possible price (even if the difference is just the cost of a coffee) and that is at the expense of not only the High Street but also at the expense of the planet. I disagree with your analysis i am afraid!

Emarisa Battoia ● 2606d

I'm so pleased to see the report on the front page here that the High St is having a revamp.  It's going to take some time and I'm sure there will be some negative comments, but this is great news.

Bunny Payne ● 2606d

And that tax - does it include Packaging Tax?Amazon now have a reputation for a large amount of packaging compared to the small size of the item being delivered.  There is a facility on their website to give feedback on this but I wonder how many do - and I wonder what if any notice they take...  Once upon a time their book packaging was wonderful and allowed a book to be protected and be posted through the letterbox.  If only they were as good with everything else.https://www.gov.uk/guidance/packaging-producer-responsibilities

Philippa Bond ● 2606d

Great news. Now if everyone will just cancel their Amazon Prime accounts and support their high street retailers...

Sarah Roberts ● 2605d

Hate to be the first negative comment but first phase of the revamp is very limited and probably won’t make much difference to the environment or the viability of the shops. Some minor pavement widening and a Copenhagen crossing I think. So much potential but Wandsworth Council is very timid and behind the times in improving our streets. I really wish they would take inspiration and courage from schemes elsewhere - Waltham Forest to name but one

Ruth Pates ● 2603d

And Richmond too Ruth, they cleared the pavements some years ago and it made a huge difference.  Along with repaving and making those drop down crossings, they got rid of most of the street furniture and guess what?  nobody got run down and they found that people can cross the road safely without iron railings!!

Bunny Payne ● 2603d

“guess what?  nobody got run down and they found that people can cross the road safely without iron railings!!”Haha - made me smile!  Still as the nanny stare trundles on 🙄

Mike Warman ● 2603d

The proposed improvements are to be welcomed but nothing ever seems to be done about the proliferating A-boards that block up to 50% of the existing pavement. (I know that a very few properties have rights over part of the pavement but it is clear that most are illegally blocking the public right of way).I feel sorry for anyone with a disability or parents with prams who have to navigate the many A-board obstacles that litter PHS. Wandsworth Council could improve pedestrian shopping experience at a fraction of the cost of the proposed project.

Timothy Horgan ● 2600d

Hear, hear! These boards are a major obstruction for pedestrians in the High St.

Caroline Whitehead ● 2600d