Chat & Social > The Bar - General Chat

VAT to be cut by 2.5%!!

<< < (4/7) > >>

Bob696:
Duty on fuel, booz and fags is being put up by 2.5% to offset the drop in VAT. So no change. The BAD news is that when VAT goes back up to 17.5% this extra duty won't drop.

LiftedDisco:
OK.. time for a sanity check as this useless bunch of numpties appear to have locked themselves in the asylum (oh how sweet that would be...  :P )

Who is actually going to implement this 'reduction in VAT'?

Small businesses...

Who isn't going to get paid for all the work they do?  Yep, you've got it... small businesses!

Take a business that I used to be involved in... a caterer who runs the public catering in a major tourist attraction.  At last count there were something like 280 options on the cash tills and there were a total of 17 tills around the site.

Each till will need to be re-programmed - some items are VAT free, some are at full rate but need to be revised and some are alcohol and will therefore remain at full rate.  Each till will take around an hour to an hour and a half to re-programme... so who's up for working a night shift on Sunday?

Methinks Mr Darling will be cosy in his bed...

AND THEN...

When the next VAT inspection comes around... who's going to cop for the inevitable fines and penalties because the poor small businessman has got it wrong somewhere, somehow?

Given that there is no VAT on mortgages, rent, food (apart from choccy biccys...) and the rate for domestic power isn't changing, I fail to see how this is going to dramatically bump start the economy as peoples' disposable income won't change.

So glad they have thought this through...

Rant over... sort of!  :evil:  :evil:  :evil:

crazymac:

--- Quote from: LiftedDisco on November 24, 2008, 18:58:54 ---OK.. time for a sanity check as this useless bunch of numpties appear to have locked themselves in the asylum (oh how sweet that would be...  :P )

Given that there is no VAT on mortgages, rent, food (apart from choccy biccys...) and the rate for domestic power isn't changing, I fail to see how this is going to dramatically bump start the economy as peoples' disposable income won't change.
--- End quote ---

Won't it,

Vat goes down by 2.5%

Alchohol, tobacco and fuel INCREASES by 2.5%

so thats 3 items up, one down!!!

And on top of that, NATIONAL INSURANCE IN INCREASNG BY 0.5%

So by my calculations i'll be WORSE off financially, can see myself rushing off to the shops as I write this :evil: :evil: :evil:

LiftedDisco:

--- Quote from: crazymac on November 24, 2008, 19:30:45 ---[
Won't it,

Vat goes down by 2.5%

Alchohol, tobacco and fuel INCREASES by 2.5%

so thats 3 items up, one down!!!



--- End quote ---

Nah... disposable income won't change... at least not in terms that will make a real difference, but the split of how they tax you when you do get around to spending the pittance that they have graciously left you will change and it would appear that it will be for the worse.

We're doomed... we're doomed!

V8MoneyPit:
Just another thought.....

Given the change is set for Monday, retail outlets are likely to have a dire week before then, aren't they? Let's face it, who is going to do non-essential shopping this week when they can make a small saving next week? Have the government considered businesses cash flow?

Navigation

[0] Message Index

[#] Next page

[*] Previous page