The Government’s VAT discount is due to end on 1st January, when it returns to 17.5% from 15%. Many retailers are using this as an added incentive to get you in their shops over the next few days with the promise of bigger-than-normal savings seeing as the prices will be rising on Friday.
Consumer blog Bitterwallet reckon retailers could use the VAT increase as an excuse to add another few quid onto the price of their goods, and want us to be on the lookout for the sneaky so-and-sos.
We’re curious to see what stores do, because sticking the additional VAT on prices will cause all manner of ugly numbers – an iPod Touch at Currys costing £149 will become£152.73 £152.25, and so on.
To work out whether they have added a bit extra, check the price of an item before 1st January and then after. Multiply the pre-change price by 1.022 to see what the (approx) price afterwards should be, and let us or Bitterwallet know if you catch any retailers up to no good.
