What: Overseas visitors will be able to shop tax-free again after it was ended in January 2021, bringing a well-needed boost to UK retail.

Why it is important: The reintroduction of tax-free shopping for overseas tourists is expected to draw in visitors and allow the UK to properly compete with Paris and Madrid while also boosting the economy.

The chancellor’s announcement of tax-free reintegration, part of the 45-billion-pound tax-cutting mini-budget plan, comes at the perfect moment as visitors begin travelling again post-pandemic.

Overall, the retail sector is expecting the UK to gain greater standing as a top luxury shopping destination with the hopes that the reinstatement will bring more visitors and create jobs across the UK.

Tax-free shopping returns to the UK