BikeBiz Bicycle and cycling retail news
Buffera has announced improved margins on a number of products and the removal of VAT on all junior and child headwear.
“After several years of hard work campaigning behind the scenes, presenting our arguments and building a strong case, we are delighted with this outcome,” said Mark Sarah, company secretary.
“Based on other products’ precedents where the designs featured clearly target the under 12s we have won our case and HMRC have conceded that Junior and Child labeled product are now VAT exempt.
“The removal of VAT on the whole of the Kids Collection will mean more sales all round and make more of our products accessible to more consumers.”
The change in price is effective at one minute past midnight on 1st January, 2014. All trade customers will benefit from this whichever ordering channel they use.
Orders placed before 1st January for delivery on or after this date will be price adjusted to reflect the removal of this tax.
