What does the VAT cut mean for you?

Today’s the day Alistair Darling’s cut in VAT rates, from 17.5 percent to 15 percent, kicks in. And in case you’re wondering, here at BT Tradespace, we’ve had our developers work round the clock so that our paying customers on the BT Tradespace Contact package are charged just 15% VAT from today.
Our message to Tradespacers though is to use your Tradespace to reflect this change if it’s relevant to what you do. More consumers are and will be shopping online as a result of the cut so use your PayPal accounts to make the most of this surge and sell online! Alternatively, if you need more time to reflect the cut, why not just be honest with your customers and use your blog to ask for a little more time?
Interestingly, while some of the bigger retailers like John Lewis, have managed to reflect the cut in VAT in time for today, word on the street is that most small businesses are struggling to make the change and the cut has thrown their businesses in to disarray.
So what does the VAT cut mean for you as a Tradespacer? Are you on top making the change for your customers? Or has it made things more difficult for you? On the other hand, have you spotted other businesses that haven’t changed their prices to reflect the cut? Respond to this blog and let us know your thoughts!
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