Your Questions Answered
Will all products in The Rug Club be cut?
All rugs will be cut to reflect 15% VAT on Monday 1st December. Prices are in effect already.
Why is the price difference only 2.1% - when the Chancellor cut VAT by 2.5%?
Cutting VAT from 17.5% to 15% does not give a 2.5% reduction on the final price of the product. The true calculation (being used by all retailers and HM Customs and Revenue) gives a discount of 2.1% from the previous price. (VAT is actually calculated using a multiple that comes from 117.5 being reduced to 115, which is a drop of 2.1%).
Example of 15% VAT:
Was = £299.99 You now pay = £293.61