Most UK tradesmen are relaxed about the forthcoming VAT rise in January, according to a survey by Screwfix.
Only one-quarter plan to buy fixings and tools in advance to stockpile them ahead of the rise.
Sixty per cent of tradesmen who responded to the survey said there was no urgency and they would purchase only what they needed.
Some 82% said they would pass on price increases in materials to customers after January 1, with only 15% planning to absorb the impact of the increases.
“Had there been concerns we would have expected far more tradesmen to indicate that they would absorb the VAT increase in their pricing,” said John Mewett, Screwfix marketing director,
“A few years ago the picture would have been very different indeed.”
“In a buoyant market tradesmen would have taken advantage of lower raw material costs ahead of the January deadline. The fact that most aren’t is a signal that whilst trading is much better than it has been, tradesmen aren’t prepared to go out on a limb and stockpile materials.”
