Better Regulation Delivery Office
|Printable version||E-mail this to a friend|
Statement on VAT reversion
LBRO, which has strongly argued the case for business regarding the VAT rate reversion in the New Year, welcomes the move by BIS to amend the Price Marking Order.
If adopted after consultation, it will give retailers 28 days (instead of 14) to update price tickets following the change on 1st January, and the extended period will significantly reduce the burden on them during their busiest trading period of the year.
This is the sort of pragmatic action in response to business concerns that will make the regulatory system work better for all concerned.
Notes to editors
1. The Local Better Regulation Office (LBRO) helps local authorities improve their environmental health, trading standards, fire safety and licensing services – reducing burdens on businesses that comply with the law while targeting those who flout it. It was incorporated as a government-owned limited company in May 2007. Following the commencement of the Regulatory Enforcement and Sanctions Act 2008 on 1 October 2008, it now operates as an executive non-departmental public body, accountable to the Department for Business, Innovation and Skills through the Better Regulation Executive. LBRO is governed by an independent Board, has a staff of around 25 and is based in central Birmingham. Our remit covers the whole of the UK and we liaise closely with the devolved administrations to ensure our work in Wales, Scotland and Northern Ireland is appropriate. For further information please visit www.lbro.org.uk
Phone: For enquiries please contact the above department