73% of UK stores absorb cost of GST

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73% of UK stores absorb cost of GST

Post by GD on Wed 14 May 2008, 9:44 am

Three quarters of UK retailers in Jersey are absorbing G.S.T.

A government survey has found that seventy three percent of UK shops in the island's town centre are NOT passing the three percent tax on to their local customers.

This includes Woolworths, Next, BHS, WH Smith and Top Shop.

Many of the twenty six UK retailers surveyed don't take V.A.T off local prices.

Consumers have expressed concern that the chains shouldn't be charging UK prices in Jersey.

But the Economic Development department say if these companies are now absorbing the Goods and Services tax it is a step in the right direction.

The department will carry on monitoring prices following the introduction of GST just over a week a ago. (from CIonline)


Proves how much the Uk stores have been ripping of the locals


......THE BOSS......

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Re: 73% of UK stores absorb cost of GST

Post by Pegasus on Wed 14 May 2008, 1:09 pm

We have been robbed by these stores for years, no wonder the internet does so well
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Re: 73% of UK stores absorb cost of GST

Post by Troy McClure on Wed 21 May 2008, 4:23 pm

GD wrote:...
Consumers have expressed concern that the chains shouldn't be charging UK prices in Jersey.
...Proves how much the Uk stores have been ripping of the locals

Smoke and mirrors.

The prices charged in local stores, whether owned locally or by international groups, have never been 'UK prices', they've always been local prices. No local retailer is charging VAT, as is often accused.

The prices they charge are down to them, and whether or not a customer chooses to pay the price goods are offered at is down to each customer.

Go compare the same item in shops around St Helier, you'll find huge price differences that can't be attributed to VAT. Shop around the UK and prices will differ from store to store too.

It'd be funny if it wasn't so sad that so many people don't understand basic retail economics, don't understand GST and yet still spout of angrily at the government because of their miss-understandings.

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Re: 73% of UK stores absorb cost of GST

Post by Thistle on Thu 22 May 2008, 7:27 am

of course local stores are charging vat.the same applies here in guernsey.in fact m&s charge the vat on sweets and chocolate as well as the extra 5% they add on.evans used to deduct 10% but no longer do so.it is greed imo as the vat goes straight into the pocket of the retailer.
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Re: 73% of UK stores absorb cost of GST

Post by Troy McClure on Thu 22 May 2008, 12:35 pm

thistle wrote:of course local stores are charging vat....
No they're not. If you believe M&S pass 17.5% of their sales to HMR&C then I'm willing to bet you they don't, what proof do you have?

If you think they're overcharging you then don't shop there, that's how markets work.

Living on an island, or any small economy, then you have to accept that the pricing within that economy are not going to be identical to those in much larger economies.

Remember M&S is NOT there to provide you with clothing, it's there to make profit for the shareholders, and they doing that by charging their customers the highest price the market will bare.

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Re: 73% of UK stores absorb cost of GST

Post by Pegasus on Thu 22 May 2008, 2:28 pm

Troy McClure wrote:[
Living on an island, or any small economy, then you have to accept that the pricing within that economy are not going to be identical to those in much larger economies.

Yeah right so you saying it is right to charge uk inclusive vat prices with the excuse that "We live on an Island" I don't think so, "Go compare the same item in shops around St Helier, you'll find huge price differences that can't be attributed to VAT. Shop around the UK and prices will differ from store to store too "or are you saying that shops don't charge VAT its not a done thing, B***ocks
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Re: 73% of UK stores absorb cost of GST

Post by Thistle on Thu 22 May 2008, 3:21 pm

nope not saying they pass the 17.5 % on to HMR&C.THE COMPANIES POCKET THE 17.5 % THAT THEY ARE OVERCHARGING US.
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Re: 73% of UK stores absorb cost of GST

Post by Troy McClure on Thu 22 May 2008, 6:16 pm

Pegasus wrote:
Yeah right so you saying it is right to charge uk inclusive vat prices with the excuse that "We live on an Island" I don't think so,
I'm saying it's down to the retailer to set his prices. If he sets them higher than you'd like you shop elsewhere and the market will force him out of business or to lower his prices.
Pegasus wrote:...or are you saying that shops don't charge VAT its not a done thing, B***ocks
Sorry, but I don't understand this sentence? but I'll say again, that no local shops charge VAT. VAT is a UK government tax, they've no reason or need to charge it, and I'll guarantee that no local shop passes any portion of their sales to the collector of VAT: Therefore they don't charge VAT.

What some people seem to get confused by is the fact that some stores with a presence in both the UK and CIs seem to charge the same price in both territories, but as I've said, that is market forces.

You talk about being overcharged, nobody is forcing you to shop at any particular store, so it's your choice to accept or not the offers being made.

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