now operates in the US, UK and Spain under separate affiliated companies. We have a physical presence and team in all of these locations; accordingly, revenue received by each company represents the economic activity in the respective jurisdiction. We do not move revenue from one territory to another in order to lower our corporate taxes: we recognise and keep the revenue generated in the UK within the UK and pay UK corporate taxes on the profit generated in the UK.

Unlike many other commercial businesses, our unique commission structure sees us return a large amount of our profit to independent bookshops in the UK.