Beat The VAT Increase
|Money : Saving|
With the increase in VAT soon, here are some tips to save your cash.
The best thing to know is what goods are not hit by VAT. They fall into 3 sections - zero rate 'essential' items, goods charged at a 'reduced rate' of 5% and those charged at full rate.
For example, Jaffa cakes, milkshakes and tortilla chips are all zero rate, whereas biscuits and crisps, are seen as luxuries and therefore have the full VAT tariff. Medical essentials have no extra charge. So tailor your purchases in order to save money.
Also bring forward any purchases you plan to make, before the January deadline, as it will be cheaper.
Some items may also be cheaper to buy abroad...
Look into cutting your food bills, or instead of buying newspapers for example, log online to catch up with all the daily news. Maybe buy supermarket own labels as opposed to the more experience branded products. Often there wont be much difference in taste and you can still save that extra bit of money so its worth it.
Questions about VAT: