UK VAT Reduction - 17.5% > 15%
UK VAT Reduction - 17.5% > 15%
Out of context: Reply #14
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- emecks0
It would be naive to think your mars bar is going to get any cheaper. It will cost the consumer EXACTLY what it always has, the difference is that the corner shop owner no longer needs to give HMRC 17.5% of the price he sells it for, but only 15%.
It's essentially a tax break for small businesses who sell to consumers. B2B will be affected as their prices are, generally speaking, exclusive of VAT.