Re: OT: Well that's killed...


"Simon Gates" <simian@xxxxxxxxxxxxxxxxxxxxxxxxx> wrote in message
news:jZCdnWE8toxGrbbUnZ2dnUVZ8jOdnZ2d@xxxxxxxxxxxxxxxx

So, except for a few headline stores, the prices won't change, and
end-of-line retailers will make a few percent more profit on each item,
although people will still be buying less.


I guess most prices will change. I would expect that the prices charged by
the tills are not simple "retail" prices but will be the actual price plus
VAT. The retailers will need to adjust the VAT charged as the transactions
will feed into their accounting systems which must calculate the VAT to paid
to HMRC, and this will need to be accurate. The systems need to be able to
cope with increases in VAT, as well as decreases, and will work in the same
way. If VAT increases (which it will when this current reduction comes to
an end) it will be absolutely vital that the correct amount of VAT is
collected else the business will suffer 'cos it still has to pay it.

--
Jimac
1985 Kawasaki GT750


.

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