Today the Newspaper Society has published an update on their February report into the impact of VAT on regional newspapers.
The new report was commissioned to see whether the earlier findings were still valid, given the reported recovery.
Most newspapers (72%) showed no improvement in profitability, and half of them actually showed a deterioration therefore, says the report, the February findings remain valid.
Price Waterhouse, who conducted the study, conducted a more detailed calculation of the gross yield to the Treasury, this time to include free titles. The report estimates the figure would be £87 million, much less than the Treasury’s own estimate.
VAT on European newspapers was also examined in more detail, confirming that the average rate across the EC is 3.9%.
Newspaper Society 071 636 7014
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