Yeah, it is a discount to take it down to the price without VAT. Wonder if the discount code is cusomer specific - I never use mine when it comes through, but then if I did give the code away, would MM think I had moved to High Wycombe or somewhere where the code was used?
They would be better off doing a bacon sarnie and tea day like other places do, would be a lot more likely pop in and buy little bits and bobs like drill bits, driver bits and I might spend a bit of time looking at the stuff - generally it is a Sunday shop for me when I need something and no where else is open.
I get these vat free vouchers all the time, have done for years, I have never ever dealt with them, and don't even remember registering with them, the vat free thing is just a marketing term, you will still pay vat. It would be more accurate to just offer a 16% discount