Unfortunately, increased costs over the past 18 months such as moving from a flat VAT rate to a standard VAT rate, increased rent, bank charges and card terminal charges, we have been left with no option but to implement a small price increase.
Some of you may remember, we started paying VAT in August 2016 which resulted in our last price increase. To avoid any confusion, Elemental Fitness Ltd., moved onto a flat rate scheme of 11%. The benefit of this was that we didn’t need to increase our prices as highly, the drawback of this was we couldn’t claim back VAT on our purchases.
The above scheme worked well, however, last year the flat rate scheme was increased to 16.5% and it has now become apparent this scheme no longer benefits the company and its members as we were forced to start paying a higher rate in VAT but the drawbacks of the flat rate scheme still existed.
Other increases in costs such as rent, card terminal and bank account charges have also caused for the change.
1st July 2018 which will be reflected on your direct debit taken 28th June 2018.
There will be an increase of roughly 6.0% (starting from £1.10pcm) on club membership of individuals training once, twice, or three or more times per week. Our family rates reflect the price increase and still include the discount for multiple family members joining the club.
We have outlined our most popular memberships below. Please take the time to understand your new payment amount and contact us if you have any questions.
As a part of the price increase, we will be offering members who sign up to train three or more times per week unlimited membership to all classes. As we have moved onto the standard rate of 20% we will now be able to claim back our VAT on purchases resulting in cheaper equipment prices.
We will also be removing our 3% charge on credit card payment.
What Do I need to do?
There is nothing you need to do. The change will be made automatically when the time comes and you will receive an email from our direct debit provider Go Cardless informing you of the change.