B&Q Owner Kingfisher Faces £31m Tax Increase Following UK Budget Changes

The DIY retailer warns of rising costs and tightened profit forecasts as National Insurance hikes and consumer uncertainty weigh on performance.

Kingfisher, owner of B&Q and Screwfix, anticipates a £31 million rise in its UK tax bill next year due to increased National Insurance contributions announced in the UK government’s recent budget.
The company also expects an additional £14 million tax impact from changes in France, bringing the total projected tax increase to £45 million across its operations.
Group sales for the three months ending October fell 1.1% year-on-year on a like-for-like basis, with UK sales slightly up but French sales declining significantly.
CEO Thierry Garnier highlighted weaker consumer confidence in October, driven by budget-related uncertainty in both the UK and France, though noted early signs of improvement in sales of high-value home improvement items.
Kingfisher has narrowed its full-year pre-tax profit forecast to £510-£540 million, down from a previous upper estimate of £550 million, citing cost pressures and market challenges.