Wednesday, February 01, 2023

Virgin Media's Inflation Busting 14% Price Rise


 

Virgin Media have told their customers that they will be raising prices by approximately 14% this April/May, and locking contract customers into annual price rises thereafter of inflation plus 3.9%.

As per their email:

"From April 2024, we are changing our approach so any price rise to your package is always made at the same time every year, and it’ll be linked to the Retail Price Index (RPI) rate of inflation plus an additional 3.9%, so the amount of any increase will be clearer, sooner. To do this, we need to change our terms and conditions. The key features of these new rules are:

The monthly subscription price for your services will increase every April starting from April 2024.
The amount the monthly price will increase will be RPI rate of inflation plus an additional 3.9%. This increase will apply to the monthly subscription price you're paying at the time and also (if applicable) to the monthly price payable after subsequent expiry of any applicable offer or discount.
The RPI rate will be the amount that is announced in the preceding February of that year, so you will be able to work out the exact increase from that date.
If the RPI is 0% or less, then your price will increase by 3.9%.
We will publish the relevant RPI rate on our website as soon as it becomes available.
As this annual price increase is provided for in your terms, there is no right to cancel given for this price increase from April 2024.
Please note that these rules will apply to any optional add-ons you've chosen in addition to your core package, excluding Netflix Add to Bill, Disney+, Lionsgate+ or Stream Entertainment subscriptions. These excluded add-ons, as well as admin charges (e.g., paper billing) and any other out-of-allowance charges (e.g., non-inclusive calls) you incur, shall continue to be subject to same terms and conditions in respect of price changes as applied before this change to your terms and conditions.
These changes to your terms and conditions will come into effect from 1st May 2023, even though the first price rise they relate to won't be until April 2024."

When faced with this form of aggressive annual price rise, the hapless customers have two options:

1 Haggle, and if that doesn't work

2 Find a cheaper supplier.

Good luck!

Tax Investigation Insurance

Market leading tax fee protection insurance for businesses, sole traders and individuals. Protect yourself from accountancy fees in the event of an HMRC enquiry.

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountant's (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your accountant (your tax return agent) to:

  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

No comments:

Post a Comment