Chat & Social > The Bar - General Chat
VAT to be cut by 2.5%!!
crazymac:
--- Quote from: solihull-mick on November 24, 2008, 10:51:32 ---Vat isnt put on MOT tests, :grin:
--- End quote ---
isn't it? didn't know that! How come every other garage bill you get does? (obviously if the garage is VAT registered!!)
Llanigraham:
Been looking at this for our shop, and according to 1 expert we will have to reduce our prices on the goods that do attract VAT by 2.1%. Well sorry but we will be using 2%.
Wooppee, an extra 0.1% profit!!!!!
muddyjames:
on the radio earlier they were saying a chocy bar will come down by 2p and a £100 item will come down to £95. Not really a huge saving but all adds up I suppose! :roll:
V8MoneyPit:
--- Quote from: crazymac on November 24, 2008, 11:59:12 ---
--- Quote from: solihull-mick on November 24, 2008, 10:51:32 ---Vat isnt put on MOT tests, :grin:
--- End quote ---
isn't it? didn't know that! How come every other garage bill you get does? (obviously if the garage is VAT registered!!)
--- End quote ---
It's the test that is zero rated for VAT. The rest of the garage services are VATable.
--- Quote from: muddyjames on November 24, 2008, 17:12:35 ---on the radio earlier they were saying a chocy bar will come down by 2p and a £100 item will come down to £95. Not really a huge saving but all adds up I suppose! :roll:
--- End quote ---
Their maths is a little poor, isn't it? An item costing £100, including VAT, now would be £97.88 with 15% instead of 17.5%. And to my reckoning, a 40p sweet will loose less than a penny!
muddyjames:
--- Quote from: V8MoneyPit on November 24, 2008, 17:40:28 ---
--- Quote from: muddyjames on November 24, 2008, 17:12:35 ---on the radio earlier they were saying a chocy bar will come down by 2p and a £100 item will come down to £95. Not really a huge saving but all adds up I suppose! :roll:
--- End quote ---
Their maths is a little poor, isn't it? An item costing £100, including VAT, now would be £97.88 with 15% instead of 17.5%. And to my reckoning, a 40p sweet will loose less than a penny!
--- End quote ---
Maybe they were talking about a huge Toblerone :lol:
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