Sarah Decent
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Comment on: Chancellor confirms 2.5% VAT cut
As a small retailer who is currently paying VAT via the flat rate scheme I believe that passing on the 2.5% cut in VAT to my customers will simply mean that this is effectively funded from my pocket - unless of course the flat rate is also reduced. I realise that after December 1 I will benefit from paying lower VAT to my suppliers, but even then I suspect I will be worse off. In summary unless the Inland Revenue reduces the Flat rate of VAT payable, small retailers will in many cases be worse off if they pass on the savings to their customers, or risk looking greedy if they don't.
