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VAT Increase!!!!
Comments
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It probably has nothing to do with the VAT increase at all. It's more likely to be a pricing or labelling error, given the figures.0
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Surely a firm can add whatever extra they want onto the cost of an item, vat is 20% full stop and not 37%, the other 17% looks like its the retailer putting they're costs up0
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Perhaps Jessops has jumped the gun on the latest Tory wheeze of allowing retailers to rip consumers off by not having to advertise the VAT price.
The current regulations are as such..
If a shop sells goods THAT CAN BE sold to ocnsumers they must include the full price including any taxes.
This includes places that sell to trade as well as consumers. As long as they show a VAT included price then they can show a VAT excluded price.
In terms of updating changes after a VAT increases they have 1 month to do it (so til Feb).0 -
The current regulations are as such..
If a shop sells goods THAT CAN BE sold to ocnsumers they must include the full price including any taxes.
This includes places that sell to trade as well as consumers. As long as they show a VAT included price then they can show a VAT excluded price.
In terms of updating changes after a VAT increases they have 1 month to do it (so til Feb).The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
I just divide the original price by 1.175 and times by 1.20
i.e.
old priced @ 17.5% vat £3.15 (3.15 / 1.175 = 2.68 net)
new priced @ 20% vat item £3.22 (2.68 x 1.20 = 3.217)0
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