How will the UK's VAT rise impact companies and customers?
How will the UK's VAT increase impact the British consumer - and how will businesses respond?
With the British VAT rate having been hiked up to 20%, UK businesses will be left wondering how consumers will ultimately respond to another economic blow. From price rises on supermarket shelves to another increase at the petrol pumps, the government’s 2.5% sales tax increase is a further blow on top of energy price increases and a generally sluggish economic recovery.
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Neil Davey is the managing editor of MyCustomer. An experienced business journalist and editor, Neil has worked on a variety of newspapers, magazines and websites over the past 15 years, including Internet Works, CXO magazine and Business Management. He joined Sift Media in 2007.