Extra time for VAT price updates

Published: 16 December, 2009

Retailers have been given until the end of January to update price labels to take account of the new 17.5% VAT rate.

The British Retail Consortium is welcoming the Government decision to extend the period of grace by two extra weeks.

Director general Stephen Robertson said: "This is a victory for BRC campaigning. It's come late but this change will give retailers more time to achieve this huge, costly exercise without undermining their key mission, especially at sales time - serving customers.

"Repricing thousands of items and updating IT systems is a major undertaking and will have to be done during most retailers' busiest and most commercially important time of year.

"Retailers will be doing all they can to minimise any customer confusion by relabelling quickly but they now have the option of leaving the job until later in January when shopper numbers are lower and staff are under less pressure.

"I urge the Government to ensure a 'light touch' to enforcement after the change so retailers aren't unfairly penalised while this work is being carried out."

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