VAT Price Concession Small Consolation for Shops Faced with Disruption
Government has today published a consultation on its intention to increase from 14 to 28 days the regulations that allow retailers to inform customers that they will be charged a higher rate of VAT by means of a general in-store notice rather than changing the price of every item on the shelf.
ACS Chief Executive James Lowman said: “The decision to reinstate a 17.5% VAT rate on the 1st January 2010 will cause major and costly disruption for retailers on a bank holiday in the middle of the busiest trading period of the year. We have called on Government repeatedly to delay in the changeover of the rate to 1st February 2010. However this small concession will provide some greater flexibility for retailers and we will support it.”
Contacts:
Shane Brennan Public Affairs Director
01252 515001/ 07921 372 978
Nina Collins Communications Coordinator
01252 515001
Notes to Editors:
1. ACS (Association of Convenience Stores) is the voice of local shops, representing over 33,500 convenience stores. ACS helps local shops thrive through lobbying, support and networking opportunities.
2. To view the Consultation on proposal to amend the provisions concerning a change to the VAT rate (Price Marking Order 2004) visit www.berr.gov.uk