Debenham's shoppers to wait for VAT cut

Debenham's won't be introducing the newly imposed 15% VAT rate until next week when the store's pre-Christmas sale is due to end.

Chancellor Alistair Darling announced the standard rate of VAT would drop from 17.5% to 15% as part of the pre-Budget report last week, and it's estimated Debenham's stance will cost customers £1m, according to dailymail.co.uk

Marks & Spencer, Bhs, New Look, Topshop, Next and Miss Selfridge have all formally announced they would be passing on the VAT reduction.

Further Reading:

PBR 08: Tax experts lukewarm on VAT cut

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