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Business: VAT

Volume 485: debated on Monday 15 December 2008

To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform what requirements there are on businesses to indicate the reduction in the price of their products made in consequence of the reduction of the rate of value added tax. (240821)

The Price Marking Order 2004 requires traders, selling to consumers, to display a VAT inclusive selling price and, where appropriate, the unit price of goods in an unambiguous, easily identifiable and clearly legible way. Where there is a change in VAT, a trader may for a period of 14 days, give a general notice that a VAT adjustment has been made. Thereafter, in order to comply with the order, he must display the fully inclusive selling price taking account of the revised VAT level.