Apologies to all for not posting a lot since July, in fact not posting at all would be more accurate. We have been incredibly busy sourcing new product developing new sites and altering our internal systems. I will have some great announcements to make shortly but thought I would just let you all know what the group is doing with regards to the recent VAT changes.It is good news as we have decided to pass on the full 2.5% discount to our customers unlike the majority of our competitors!
We are applying the discount at checkout and I thought I would just give a brief explanation of how the discount is calculated:
How does this affect you?
All the prices currently displayed online include VAT at 17.5%. However 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 EX VAT price is £85.11
To calculate the new price including EX VAT at 15% we must add 15% to the EX VAT price of £85.11, which equals £97.87.
Anyway hope that is clear any questions please call us on 0800 389 9732
Thanks Helan, we will try and keep things a little more up to date as we are working on some exciting new developments at the moment.
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