VAT reduction - am confused

[reindeercantdancethetango]

so all shops either have signs up with new VAT reduction prices or have signs up saying the money will be taken off at the till.

What about the pound shop? DOes this mean its the "just less than a pound" shop now?

lol.
It is up to them, they cam continue to charge a pount, and make a fraction more profit, or they could reduce the price slightly.
At that lavel I would expect them to pocket the extra fraction.