My New Year’s resolution is to blog about Chiggs more, and first up is.. the recent VAT rise. I know, I know, it’s not the most thrilling of topics but it’s something that had led to me poring over more pages of figures than at any time since my time at Uni when I studied Economics!
Chiggs trades under the VAT threshold, so we are not VAT registered- this means we can’t claim VAT back, but we do of course have to pay the tax on everything we buy in the business. So, as you can imagine, an increase in costs of 2.5% has led to fair bit of number crunching- the Chiggs calculator is often seen with smoke coming out of it.
Chiggs Wheels are printed in the UK, and we use UK companies for other components such as the envelopes we supply with the cards and the cellophane wrappers they are sealed in, the postage boxes and padded envelopes we post orders in, even the sticky pads the embellishments are stuck on with ( from a very nice company just down the road in Bradford). This is something we’re very proud of, hoping that in it’s own little way Chiggs is supporting other UK businesses. However, a downside to our patriotism is that we have been hit by a whack with VAT!
Despite my moaning (memo to self, make another New Year’s resolution not to moan so much) we’re absorbing the increased costs, and are keeping the price of Chiggs Wheels on the website shop at £3.99 (free P&P). Likewise, our wholesale price for businesses placing trade orders is also remaining the same.