{"id":37,"date":"2005-05-31T21:57:23","date_gmt":"2005-05-31T20:57:23","guid":{"rendered":"http:\/\/pgregg.com\/wp\/2005\/05\/that-25-transaction-fee-in-stores-and-supermarkets\/"},"modified":"2005-05-31T21:57:23","modified_gmt":"2005-05-31T20:57:23","slug":"that-25-transaction-fee-in-stores-and-supermarkets","status":"publish","type":"post","link":"https:\/\/blog.pgregg.com\/blog\/2005\/05\/that-25-transaction-fee-in-stores-and-supermarkets\/","title":{"rendered":"That 2.5% &#8220;transaction fee&#8221; in stores and supermarkets."},"content":{"rendered":"<p>Ever noticed in large chain stores (Tescos, Marks &amp; Spencers, etc) that little sign at the checkout that says &quot;By agreeing to purchase from XXX you agree that XXX Financial Services Ltd will charge a 2.5% transaction fee. The amount you pay is the same&quot;.<\/p>\n<p>Well, today, I worked out what it is all about.&nbsp; It&#8217;s a V.A.T. loophole.<\/p>\n<p>Basically, on pretty much everything you purchase the store has to pay Customs &amp; Excise the relevant amount of V.A.T. on that purchase.&nbsp; However, financial services are zero vat rated, so for the store these small percentages really add up to a large sum of money that they don&#8217;t have to pay any VAT on. Nice scam if you&#8217;re big enough to work the system, eh?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ever noticed in large chain stores (Tescos, Marks &amp; Spencers, etc) that little sign at the checkout that says &quot;By agreeing to purchase from XXX you agree that XXX Financial Services Ltd will charge a 2.5% transaction fee. The amount you pay is the same&quot;. Well, today, I worked out what it is all about.&nbsp; &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blog.pgregg.com\/blog\/2005\/05\/that-25-transaction-fee-in-stores-and-supermarkets\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;That 2.5% &#8220;transaction fee&#8221; in stores and supermarkets.&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"1","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-37","post","type-post","status-publish","format-standard","hentry","category-general"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbQOUu-B","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/blog.pgregg.com\/blog\/wp-json\/wp\/v2\/posts\/37","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.pgregg.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.pgregg.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.pgregg.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.pgregg.com\/blog\/wp-json\/wp\/v2\/comments?post=37"}],"version-history":[{"count":0,"href":"https:\/\/blog.pgregg.com\/blog\/wp-json\/wp\/v2\/posts\/37\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.pgregg.com\/blog\/wp-json\/wp\/v2\/media?parent=37"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.pgregg.com\/blog\/wp-json\/wp\/v2\/categories?post=37"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.pgregg.com\/blog\/wp-json\/wp\/v2\/tags?post=37"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}