TaxCorporate TaxDebenham’s shoppers to wait for VAT cut

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
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

Would
you mind saving the economy Darling?

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