VAT Reductions at Golf Direct this Christmas
Here at Golf Direct we have up dated all our prices to take into account the new VAt rate of 15%. This Christmas we have some great golfing offers on a vast range of golf equipment as well as ome great Christmas Golf Vouchers which make a great present for the golfer in your family.
A. Yes, we will be passing on the changes to our customers. From Monday 1st December 2008 all our golf equipment will benefit from the new reduced rate of VAT.
A. From Monday, the new VAT rate will be represented in the price you pay at the till or on the web site.
Q. How do you calculate this? (It doesn’t appear that the discount is equal to 2.5%)
A. Our selling prices are VAT inclusive so they already have the VAT applied. In order to apply the new rate of VAT, we need to take VAT at 17.5% off the previous selling price, then work out 15% on this value and add that back on. This means that the actual discount on the previous VAT inclusive price works out at about 2.13%.