20% vat - Page 4

gynn · 04-01-2011, 19:42

Quote:

Originally Posted by talentedbutslow

I suspect there will be a surge in interest in migrating to Australia when people find out that our GST (VAT)is set at 10%.......look me up when you get here.

So good that you spend your time on a website based in the old country.

Homesick?

Neil · 04-01-2011, 21:05

Quote:

Originally Posted by talentedbutslow

I suspect there will be a surge in interest in migrating to Australia when people find out that our GST (VAT)is set at 10%.......look me up when you get here.

Why?

It is all relative to the cost of everything else not just one thing like VAT

Benipete · 04-01-2011, 21:22

Quote:

Originally Posted by talentedbutslow

I suspect there will be a surge in interest in migrating to Australia when people find out that our GST (VAT)is set at 10%.......look me up when you get here.

Shall I bring my own mop and bucket?

flashy · 04-01-2011, 23:01

BBC News - Who, What, Why: What happens to £9.99 when VAT rises?

The standard rate of VAT has gone up from 17.5% to 20%. What will this mean for the familiar "price points" to which consumers are accustomed?

Mancie · 05-01-2011, 00:44

Simple answer to the original question is yes.. this will harm the economy and also harm small business.. Cameron's comments on the run up to the election?.. " Let us be in no doubt that any rise in VAT will affect the poorest in our society" ...

... we have become the highest taxed nation in the G8..have borrowed and spent the most in the history of this country.. along with paying the highest gas, electric, and petrol prices in the western world.. all in the space of eight months!

gynn · 05-01-2011, 10:11

Quote:

Originally Posted by flashy

BBC News - Who, What, Why: What happens to £9.99 when VAT rises?

The standard rate of VAT has gone up from 17.5% to 20%. What will this mean for the familiar "price points" to which consumers are accustomed?

It probably means that a £9.99 item will go up to £10.99. Not a 2.5% increase, but a 10.1% increase.

And if anyone charges you an extra 2.5% claiming it is the VAT increase, then they are conning you.

For example, if the charge is £10.00, they might put it up to £10.25. However, the £10.00 was made up of £8.51 plus £1.49 VAT. The new charge should be £8.51 plus £1.70 VAT = £10.21.

Not a lot, you might think, but a nice little earner for the supplier.

jaysay · 05-01-2011, 10:22

Quote:

Originally Posted by Mancie

Simple answer to the original question is yes.. this will harm the economy and also harm small business.. Cameron's comments on the run up to the election?.. " Let us be in no doubt that any rise in VAT will affect the poorest in our society" ...

... we have become the highest taxed nation in the G8..have borrowed and spent the most in the history of this country.. along with paying the highest gas, electric, and petrol prices in the western world.. all in the space of eight months!

And we are tackling the highest debt in this countries history created by the last utter useless Government

jaysay · 05-01-2011, 10:24

Quote:

Originally Posted by Benipete

Shall I bring my own mop and bucket?

Think you'll need more than that Beni

Gordon Booth · 05-01-2011, 13:42

Quote:

Originally Posted by talentedbutslow

I suspect there will be a surge in interest in migrating to Australia when people find out that our GST (VAT)is set at 10%.......look me up when you get here.

Only good swimmers need apply!

lancsdave · 05-01-2011, 16:39

Quote:

Originally Posted by gynn

It probably means that a £9.99 item will go up to £10.99. Not a 2.5% increase, but a 10.1% increase.

And if anyone charges you an extra 2.5% claiming it is the VAT increase, then they are conning you.

For example, if the charge is £10.00, they might put it up to £10.25. However, the £10.00 was made up of £8.51 plus £1.49 VAT. The new charge should be £8.51 plus £1.70 VAT = £10.21.

Not a lot, you might think, but a nice little earner for the supplier.

If any price increase is only VAt then you would be correct in your maths. However in our case the VAT is only a very small percentage of cost increases, so we have to include those as well. Many small businesses aren't VAt registered so the actual VAT on the goods themselves is not the only extra, delivery costs & service costs are also increased by the VAT.

If you still think it's a nice little earner I would be quite happy to listen to any offers for the purchase of my business

andrewb · 05-01-2011, 19:12

Quote:

Originally Posted by Mancie

Simple answer to the original question is yes.. this will harm the economy and also harm small business.. Cameron's comments on the run up to the election?.. " Let us be in no doubt that any rise in VAT will affect the poorest in our society" ...

... we have become the highest taxed nation in the G8..have borrowed and spent the most in the history of this country.. along with paying the highest gas, electric, and petrol prices in the western world.. all in the space of eight months!

You say tax rises and spending cuts will harm the economy.. so.. what exactly do you suggest the country does about the deficit?

jaysay · 05-01-2011, 19:15

Quote:

Originally Posted by andrewb

You say tax rises and spending cuts will harm the economy.. so.. what exactly do you suggest the country does about the deficit?

Mancie usually uses the Ostrich Method, very useful when your up the creek without a paddle

accyman · 05-01-2011, 19:23

Quote:

Originally Posted by andrewb

You say tax rises and spending cuts will harm the economy.. so.. what exactly do you suggest the country does about the deficit?

well so far the majority of money saved from teh conservitive cuts has gone to outher countries such as ireland and pakistan so maybe not giving money away hand over fist to other countries economies might be a good start ?

hang on im wrong there our government borrowed money to give away because they havnt saved any money yet

andrewb · 05-01-2011, 19:45

Quote:

Originally Posted by accyman

well so far the majority of money saved from teh conservitive cuts has gone to outher countries such as ireland and pakistan so maybe not giving money away hand over fist to other countries economies might be a good start ?

hang on im wrong there our government borrowed money to give away because they havnt saved any money yet

The 'majority of money'? Can you back that up with facts?

There are two issues here. One was a loan to Ireland which we will make a profit on, which is different to giving aid. Would you have let Ireland go to the wall despite our publicly owned banks being exposed by billions?

Tealeaf · 05-01-2011, 20:10

Quote:

Originally Posted by andrewb

The 'majority of money'? Can you back that up with facts?

There are two issues here. One was a loan to Ireland which we will make a profit on, which is different to giving aid. Would you have let Ireland go to the wall despite our publicly owned banks being exposed by billions?

Maybe if that bunch of Tory spineless cretins had told the Micks to raise their corporate tax level to that of the UK then a) the Irish would not have had to borrow the money in the first place and b) we could have seen a few more jobs relocated from Eire to Britain.