Hi Peter
I did this tour a few years ago pre-pandemic. Iceland is an amazing place and the food is incredible. It is a little pricey but I believe that they still have a scheme where, if you keep your receipts, you can claim a tax refund at the airport before you leave which they will send straight to your bank account.
In terms of clothes - layers are essential. I suggest items that are easy to zip/button on and off quickly because you will be in and out of heated buses, so it will be 'jacket on/jacket off'! It's also one of those places where they say, "If you don't like the weather, just wait 10 minutes". You'll get sun, wind, rain, sleet and probably snow, all within the space of your lunch break!
As a tip - I would also suggest some clip on snow treads for your shoes - I got some called 'YakTrax' which I think you can buy online from Amazon or similar.
Happy to help if you have any other questions.
Happy Travels
MLB