Electricals Store Doubles VAT Reductions
In an unprecedented move, ELectrical123 has double the VAT reduction on all its items at its online store.
Earlier this year, the Government announced in its Budget that VAT was being reduced from 17.5% to 15%. This was done in an effort to rejuvenate the economy at a time. In order to stimulate businesses and consumers into buying again, the decision was taken to reduce VAT for the foreseeable future.
This saving of 2.5% has been passed onto the end consumer by the majority of stores. However, some stores have faced criticism for not reducing prices, instead choosing to increase their margins. Electrical123.com have chosen the opposite approach - doubling the VAT reduction meaning the consumer saves even more.
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- Marketing Executive
- Lakestar Media
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