Shein UK accused of moving ‘vast bulk of income’ to Singapore to cut British tax

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.