Forum Topic

New  Coffee Shop -Brand Srreet- for PHS

Another US-hedgefunded coffeeshop to open on PHS. looks like it will go down well with the trendy TikTokers on here - I think I will give it a miss  for now.

Timothy Horgan ● 46d7 Comments

I have to admit I really dislike this 'structured so it will never pay a penny of corporation tax' jargon. Exactly how do you think they manage this? Blank street last year made 1.2m in profit. They used brought forward losses of £9m so they used this to reduce their tax bill down to £0.Do you think it is unusual that a fairly new coffee shop brand had losses in preceding years? And before you say anything they have no loans so no interest deductions and even if they did have debt do you realise there are lots of interest deductibility rules they have to abide by which if deemed too high etc would cause the interest to be deemed non deductible and added back to their tax comp? It is so easy to say 'structured to reduce tax' when actually these days it is very very hard.

Gabrielle OMahony ● 34d

Hope everyone chooses to use  independent coffee shops and cafe’s in Putney instead of these soulless chains

Christine Bryan ● 34d

Timothy is right it is a chain, almost certainly developed by focus group and relentlessly promoted on social media. It is highly likely to have a company structure that means it will never pay a penny of corporation tax in the UK.I urge everyone to adapt a rule that you try to avoid eating a meal or having a cup of coffee at any venue where there is zero chance of meeting the person that owns it.

Peter Higgins ● 35d

Timothy, they are also opening one in Richmond.

Barbara Stevens ● 36d

Thank you.

Ivonne Holliday ● 45d

Apologies - yes it is BLANK Street and I think it was Wasabi there previously.

Timothy Horgan ● 45d

Where abouts on PHS will they be?  Is it Brand Street or Blank Street?Whichever it is, I agree with you, I think I will give them a miss too.

Ivonne Holliday ● 45d