Thursday, December 27, 2012

Interesting information about Phasing out the Penny- Feb 4 2013

After Feb 4th 2013, Royal Mint will not distribute pennies. Businesses will start rounding up or down after taxes for cash purchases. Finance website has a nice diagram (see below) explaining the rounding.

There is no round up or down, if you are paying by other means other than cash (i.e. credit card, debit card etc.).
More information see Finance website.
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