VAT savings now at Bathstore
Bathstore are pleased to pass on the VAT reduction announced this week to you our valued customers. There is no need to wait and the saving is made as soon as you add a product to your basket or place an order in store.
From Monday 1st December 2008, the rate of VAT charged on products sold in the UK will be reduced from 17.5% to 15%. With immediate effect, we are passing these savings on to you by reducing our prices to reflect the forthcoming change in VAT. This applies both on our website and in all our Bathstore stores.
How does this affect you?
All prices currently displayed include VAT at 17.5%. These prices will be discounted at the checkout to be equivalent to the new 15% VAT prices. This means a discount of 2.13% on the displayed price.
Why is this discount 2.13% and not 2.5%?
The example below illustrates how the 2.13% discount is calculated:
Current ticket price includes VAT at 17.5%
On a product that sells for £100 the VAT FREE price is £85.11
To calculate the new price including VAT at 15% we must add 15% to the VAT FREE price of £85.11, which equals £97.87.
Therefore the old price of £100 less the new price of £97.87 results in a saving of £2.13 or 2.13%.
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