Monday, 3 January 2011

VAT - On the up from 00:00 - 04/01/2011

Just a reminder for those who don't visit UK shores, or people within the UK who have been living under a rock.

Value Added Tax (VAT) is set to rise tonight from 17.5% to 20%. 

So unless you're buying some food items or childrens clothes (which have 0% VAT) or certain fuels (rated at 5%), the cost of what you're buying jumps up by 2.5% or so from Midnight 04/01/2011. 

And a happy new year from Her Majesties Coalition Government.

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