Check self-storage prices now that providers are obliged to charge VAT

A recent article in the Evening Standard by Lucy Tobin notes that self-storage companies have had to charge VAT on their prices since October 1. However, the article does not mention that many of the smaller self storage companies have always included VAT in their prices and so have not had to hike their prices as some of the larger companies have done since last month once VAT became obligatory.

The article sampled some big name self storage providers’ prices for a test case involving the contents of a 15ft by 15ft room containing a large sofa, two armchairs, a chest of drawers, a small desk and eight medium-size boxes of books and other items. The storage was required for up to four weeks.

The 4 companies sampled all suggested a 35 – 40 sq ft container at prices as shown below (but note that some charged an access fee during the first 4 weeks).

Clearly, from these prices there is a big difference depending on exactly how long the storage is used for. Using it for just 4 weeks, three of the different companies prices are very similar but using the storage for 8 weeks then reveals a huge difference in total costs between providers with the company offering a 50% discount for the first 4 weeks substantially more expensive than those offering no discount or a very small discount.

The Evening Standard article only selected examples from some of the major names in self storage but a look at a smaller company such as storing.com, who had already included VAT in their prices before it became law reveals that their prices are significantly lower: