Stores granted VAT extension
Retailers have been given four weeks instead of two to update price labels in stores after the VAT rate changed on January 1.
The British Retail Consortium welcomed the government’s decision to give retailers longer to change shelf and product labels after the return of the standard rate of VAT to 17.5%.
BRC director general Stephen Robertson said: “Retailers will be doing all they can to minimise any customer confusion by relabelling quickly.
“However, they now have the option of leaving the job until later in January when shopper numbers are lower and staff are under less pressure.”??