Tag: VAT rate

FSB calls for VAT cut

FSB calls for VAT cut

The Federation of Small Businesses (FSB) is urging the Government to cut the rate of VAT in core sectors of the economy. The suggestion comes after the FSB’s latest Business Confidence Report, which saw a sharp fall in sentiment during the second quarter. VAT was raised to 20% earlier this year to raise billions of [...]

July 18, 2011 | 0 Comments More
Ireland lowers VAT rate on number of goods

Ireland lowers VAT rate on number of goods

Ireland has slashed its VAT rate on a number of goods, including restaurants, hospitality and tourism in a bid to boost the economy and get consumers spending again. The country’s Government lowered the rate from 13.5% to 9% on 1 July and it will remain until December 2012. The new rate will mean slightly lower [...]

July 4, 2011 | 1 Comment More
UK retail sales slip due to January snowfall

UK retail sales slip due to January snowfall

As expected, the snowy and icy conditions experienced in the UK in January has resulted in a fall in retail sales. The severe wintry weather drove shoppers away from the High Street and resulted in a 1.8% fall in retail sales - the sharpest drop in 18 months. The official figures, from the Office for [...]

February 19, 2010 | 0 Comments More
UK retail sales in unexpected fall in November

UK retail sales in unexpected fall in November

The Office of National Statistics (ONS) has today revealed a fall in UK retail sales for the month of November. There were hopes that November would see early Christmas shoppers flooding the High Street but according to the ONS, sales volumes fell by 0.3% compared with October, less than analysts forecasts of a 0.4% rise. [...]

December 17, 2009 | 0 Comments More
CBI survey brings hope for High Street

CBI survey brings hope for High Street

The UK economy received a boost today after the Confederation of British Industry (CBI) said retail sales rose at their fastest pace in two years in November. According to the CBI’s monthly distributive trades survey, retailers expect a further rise in December, boosting hopes of a busy Christmas shopping period on the High Street. The [...]

November 26, 2009 | 0 Comments More
Halloween shoppers boost the High Street in October

Halloween shoppers boost the High Street in October

The Office for National Statistics (ONS) has today revealed a rise in UK retail sales for the month of October. Retail sales for the month were up 0.4% compared with September and rose by 3.4% compared with October 2008. Sales were driven by clothing and footwear, partially due to Halloween and half-term shopping, which contributed [...]

November 19, 2009 | 0 Comments More
UK inflation rises to 1.5% in October

UK inflation rises to 1.5% in October

The Office for National Statistics has today announced that Consumer Price Inflation (CPI) rose for the first time in eight months to 1.5% in October from a 5-year low of 1.1% in September. The rise was not unexpected after a sharp fall in transport costs last year was not repeated this year and because fuel [...]

November 17, 2009 | 0 Comments More
High Street sales rise in October

High Street sales rise in October

The British Retail Consortium (BRC) has revealed great news for the High Street today after October retail sales surged by an annual rate of 3.8%. However, the BRC points out that the figures compare with October 2008 when turmoil in the financial markets dented consumer confidence. The rise was due to Halloween, which fell on [...]

November 10, 2009 | 0 Comments More
BRC: Implementing new VAT rate is ‘mammoth task’ for retailers

BRC: Implementing new VAT rate is ‘mammoth task’ for retailers

In yesterday’s Pre-Budget Report, Chancellor Alistair Darling, announced that VAT is to be cut from 17.5% to 15% from next Monday, December 1, for 13 months While the cut has been welcomed by many, Stephen Robertson, director general of the British Retail Consortium (BRC), said implementing a new VAT rate in just one week will [...]

November 25, 2008 | 0 Comments More