The cost of self storage is set to increase due to changes in the VAT rules. From October last year, standard rate VAT applies to self storage operators. This was to balance out some issues in perceived advantages gained by larger providers in the industry. A good article and explanation was recently written by Reeves.
The result of the introduction of VAT has seen an increase in storage prices across the industry. Some of the larger storage companies have kept their prices the same and absorbed the VAT cost, but many will have no option but to increase the cost of self storage to the consumer.
It is therefore important therefore for customers to make sure they are getting the best deal available when they look into the cost of self storage. You should be aware of exactly what your storage quote includes. Continue reading