Fast-fashion retailer rejects accusations as Fair Tax Foundation questions its tax arrangements
Shein’s UK arm has been accused of transferring the “vast bulk of income” to its Singaporean parent in order to cut its British tax bill.
The company, which had been considering a £50bn float on the London Stock Exchange but is expected to list in Hong Kong, paid just £9.6m in corporation tax despite taking £2bn in sales last year.
The payment is equivalent to 25% of the £38.2m in pre-tax profits it made in the UK in 2024, according to accounts filed at Companies House, in line with the UK corporation tax rate.
However, campaigners said the bill was low relative to Shein’s £2bn sales because about 84% or £1.72bn of the sales figure is transferred to its parent group’s Roadget Business Pte Ltd in Singapore as a “purchasing” cost.
