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We are pleased to announce that the new 15% VAT prices are effective immediately in all DIY Essentials Group websites.
How does this affect you?
All the prices currently displayed online include VAT at 17.5%. However these prices will be discounted at the checkout to be equivalent to the new 15% VAT prices. This means a discount of 2.13% on the displayed price.
Why is this discount 2.13% and not 2.5%?
The example below illustrates how the 2.13% discount is calculated:
- Current ticket price includes VAT at 17.5%
- On a product that sells for £100 the EX VAT price is £85.11
- To calculate the new price including EX VAT at 15% we must add 15% to the EX VAT price of £85.11, which equals £97.87.
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