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 (the Association of Convenience Stores) 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.”