In July, as part of a list of measures to help boost the economy in the face of the COVID-19 pandemic, the Government announced a temporary reduction in the standard rate of VAT, from 23% to 21%, to run from 1st September 2020 to 28 February 2021.
We are passing the 2% VAT reduction on in full on all products bought in-store or online during this time.
In order to avoid changing all our prices twice though, these reductions will be made at check-out.
- Online this will appear as a discount line in your cart, “Covid VAT reduction Sep 20-Feb 21”, with a total discount based on the recalculation of VAT at 21%.
- In-store this will be handled by product on your till receipt, although price signs will continue to display the pre-reduction/23% VAT prices.
On 1st March 2021 when the VAT rate is increased back to 23% these discounts will no longer be applied and the price paid will be as displayed. Until then, enjoy the reduction; 2% isn’t much but better in your glass than the government’s coffers we figure!
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