Debenham's shoppers to wait for VAT cut
Retailer denies Christmas shoppers the opportunity to take advantage of the 2.5% reduction in VAT
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
Marks & Spencer, Bhs, New Look, Topshop, Next and Miss Selfridge have all
formally announced they would be passing on the VAT reduction.