Discussion
cuprabob said:
XitUp said:
How much does he think a vegetable rogan josh with garlic rice will go up by?
you only pay vat if you sit in. It's vat free if it's take awayhttp://customs.hmrc.gov.uk/channelsPortalWebApp/ch...
Negative Creep said:
McSam said:
CaptainSlow said:
In reality seller will absorb an element of the tax increase, so will be less than that.
Plenty will, since it's supposed to be a temporary increase, take the chance to make themselves look good and absorb it all. Also saves changing every single price in the company's catalogue, whoever they may be.It's those adverts saying "Beat the VAT increase!" and "We're holding the lower VAT rate until the end of January!" that really make me laugh.. If they advertised a 2.13% sale, would anyone give a s
t?
Fatman2 said:
It might make people think twice about cars though as another 2.5% on £30k will be significant.
Even spending £30k it won't make that much difference. I calculate it as an extra £638 and, if you're thinking of spending 30 grand on a car, I doubt you would be put off by it.RYH64E said:
Compared to the effects of:
Interest rates
Exchange rates
Fuel costs
Inflation
a 2 1/2% increase in VAT will make negligible difference to the cost of living.
Particularly since most of what is vital for living is exempt anyway.Interest rates
Exchange rates
Fuel costs
Inflation
a 2 1/2% increase in VAT will make negligible difference to the cost of living.
Residential Rents
Mortgage
Water
Council Tax
Light & Heat (reduced rate)
Food (essentials)
The only area where it hits something that is a neccesity rather than a luxury is motoring costs needed to get to and from work and work clothing.
McSam said:
Negative Creep said:
McSam said:
CaptainSlow said:
In reality seller will absorb an element of the tax increase, so will be less than that.
Plenty will, since it's supposed to be a temporary increase, take the chance to make themselves look good and absorb it all. Also saves changing every single price in the company's catalogue, whoever they may be.It's those adverts saying "Beat the VAT increase!" and "We're holding the lower VAT rate until the end of January!" that really make me laugh.. If they advertised a 2.13% sale, would anyone give a s
t?RYH64E said:
Compared to the effects of:
Interest rates
Exchange rates
Fuel costs
Inflation
a 2 1/2% increase in VAT will make negligible difference to the cost of living.
Add them all together and there could be some pretty substantial cost of living increases this year.
This is the crux of the matter. I don't think you can view the VAT increase in isolation. Interest rates
Exchange rates
Fuel costs
Inflation
a 2 1/2% increase in VAT will make negligible difference to the cost of living.
Add them all together and there could be some pretty substantial cost of living increases this year.
Like many people, I did not get a pay rise last year and I know I'm not getting one this year - nor is my wife. In the meantime our child benefit and working tax credits have been frozen, utilities bills have gone up, car insurance has gone up, house insurance has gone up, food prices have gone up, clothes prices have gone up, petrol - of course - as gone up and pretty much everything else I can think of has gone up!
VAT is a very visible tax and it has a big impact on people's perceptions. Analysts often talk of 'consumer confidence', and remark how fragile it is. I fear that for many people the VAT rise is a tipping point and that the economic recovery will remain out of sight.
powerstroke said:
According to Edd monkeygland this VAT increase is the end of the economy
and a wicked thing to do, Nice to see he has a grasp of economic maters
like his predsecessor
They only wanted a rise to 19% IIRC, no doubt plus other tax rises across the board that amount to the same or less money being left in our pockets to spend. and a wicked thing to do, Nice to see he has a grasp of economic maters
like his predsecessor
CaptainSlow said:
McSam said:
Negative Creep said:
McSam said:
CaptainSlow said:
In reality seller will absorb an element of the tax increase, so will be less than that.
Plenty will, since it's supposed to be a temporary increase, take the chance to make themselves look good and absorb it all. Also saves changing every single price in the company's catalogue, whoever they may be.It's those adverts saying "Beat the VAT increase!" and "We're holding the lower VAT rate until the end of January!" that really make me laugh.. If they advertised a 2.13% sale, would anyone give a s
t?we are copping a doble whammy as the cost of wool has gone up so when i go into work in the morning (ist day open) there will be new price lists from most carpet manufactuers with increases of about 1.5% then the vat increase which as has already been said is really only a small increase but the general public cannot see that so are a bit more careful where they spend their cash
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