Beat the VAT Rise

There are two certainties in life. Rubbish TV and taxes. And with the recent VAT rise, tax is going to be costing you even more. Everything you buy from clothing to power tools will now be more expensive. It will cost you more to travel, more to sleep, more to purchase everything. Which is why it’s important to beat the rise and find the very cheapest retailers.

For those in trade the VAT rise could hit hard. Although bigger businesses may allow for VAT refunds, self employed or small businesses could suffer greatly. Items such as cutting tools and hand tools should be bought wholesale and from cheaper companies in order to save money. Doing your research could save you hundreds of pounds, invaluable to any business.

Whether you’re a plumber or a decorator, and whether its power tools or paintbrushes that you need to stock up on, cost is important. Every business knows that profit margin is the most important part of any purchase or sale, and nobody wants to risk that by buying overpriced hand tools, which would have been much cheaper elsewhere.

Thankfully the VAT increase does not apply to items seen as essential such as food and children’s clothing, which means that the weekly shop shouldn’t be affected too much. However, although 2.5% may not seem a big increase, when you add that on to almost everything we purchase it will make a difference.

Small businesses are likely to be hit not only in the purchasing of such goods as cutting tools but also with the logistical nightmare that will surround the selling of their products with the rise. Make sure you check your prices regularly and ensure that you have added on the new VAT rate, as these first few months of the new rate will be sure to catch people out.

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