Pinsent Masons

LONDON, June 22, 2010 - Experts from international law firm Pinsent Masons comment on the Chancellor's Emergency Budget delivered today 22 June 2010: VAT Rise to 20% Ian Hyde, tax partner at Pinsent Masons comments: "The increase in rate will be a blow for retailers who will either have to increase their prices to cover the increase in VAT or accept a reduction in profit margins if they absorb the increase.