Comet reduces prices by 2.5% and passes VAT cut onto customers
Comet has become one of the first retailers to pass the recent VAT cut onto its customers. It is doing this both online and in-store. Although the Chancellor, Alistair Darling, had urged all retailers to pass on the cut, it is very likely that customers will notice little difference this Christmas.
A major tax change is difficult for online stores to integrate overnight plus many stores have pre-printed brochures and stock lists that would become redundant in the lead up to Christmas. The timing itself makes it a problem for businesses as they gear up for the end of the year. Even the Federation of Small Businesses voiced its concerns over speedy implementation.
