VAT increase

[Sticks.]

Bing o said:

Pageo said:

If it was too pay for some windfarms then i would be all for it as it would create jobs as well. As im all for green power ( apart from the car ).

Oh dear. Urban Dictionary says; Like Gaylord and Divvy, one of the most offensive words a 7 year old schoolboy knows. Derived from Spastic, the now politically incorrect term for a person with cerebral palsy.

[petemurphy]

Sticks. said:

Bing o said:

Pageo said:

If it was too pay for some windfarms then i would be all for it as it would create jobs as well. As im all for green power ( apart from the car ).

Oh dear. Urban Dictionary says; Like Gaylord and Divvy, one of the most offensive words a 7 year old schoolboy knows. Derived from Spastic, the now politically incorrect term for a person with cerebral palsy.

what are the other 4?!

[Bing o]

petemurphy said:

Sticks. said:

Bing o said:

Pageo said:

If it was too pay for some windfarms then i would be all for it as it would create jobs as well. As im all for green power ( apart from the car ).

Oh dear. Urban Dictionary says; Like Gaylord and Divvy, one of the most offensive words a 7 year old schoolboy knows. Derived from Spastic, the now politically incorrect term for a person with cerebral palsy.

what are the other 4?!

Yes, I would like to know these too - I need to improve my vocabulary.

[Sticks.]

Bing o said:

petemurphy said:

Sticks. said:

Bing o said:

Pageo said:

If it was too pay for some windfarms then i would be all for it as it would create jobs as well. As im all for green power ( apart from the car ).

Oh dear. Urban Dictionary says; Like Gaylord and Divvy, one of the most offensive words a 7 year old schoolboy knows. Derived from Spastic, the now politically incorrect term for a person with cerebral palsy.

what are the other 4?!

Yes, I would like to know these too - I need to improve my vocabulary.

Indeed. Other 4 what?

[GTIR]

My neighbour told me this morning he queued for 30 mins to fill up with fuel last night. I asked why and he said "to beat the vat increase"

So let's assume he filled up from empty I'd say he "saved" £1.90. Bearing in mind he sat with his engine running for all that time and had at least a 4 mile round trip I'd say he's actually is worse off!

Penis.

[Ribol]

Obviously any increase in taxes isn't going to be welcome but I think real (as opposed to government quoted) inflation is what is going to really hurt and the VAT increase is just a small part of it.

Petrol increasing 85p > £1.25 in just two years and supermarket prices going in the same direction almost seem to have gone unnoticed by some.

The VAT rise is just the tip of the iceberg and this year is going to be a rough one for a lot of people IMO.

[Sticks.]

Ribol said:

Obviously any increase in taxes isn't going to be welcome but I think real (as opposed to government quoted) inflation is what is going to really hurt and the VAT increase is just a small part of it.

And when interest rates go up as a result, that could be difficult for a lot of people.

[GTIR]

Ribol said:

Petrol increasing 85p > £1.25 in just two years and supermarket prices going in the same direction almost seem to have gone unnoticed by some.
.

You know I've never really worked it out before (la la la I'm not listening) but on a 70lt tank that's an extra £25. Quite an increase.

[Ribol]

GTIR said:

Ribol said:

Petrol increasing 85p > £1.25 in just two years and supermarket prices going in the same direction almost seem to have gone unnoticed by some.

You know I've never really worked it out before (la la la I'm not listening) but on a 70lt tank that's an extra £25. Quite an increase.

It is when you consider how often most people do it and how much of it is tax (65/70%?).

The funny(?) thing is that when petrol was about to go over the £1 the whole world and his wife was up in arms about it, now it is at £1.25 nobody even notices. Maybe when it reaches £2.00 a Litre there will be another outcry.

I wonder how this will be reflected in the government "quoted" inflation figures

[Engineer1]

AJS- said:

The trouble with raising VAT though is that it still doesn't get to the core of the problem - the government is spending too much. Yes they need to balance the books but not by raising more in taxes. They need to make huge, HUGE cuts and they just don't have the balls (or to be fair the electoral mandate) to do it.

Country's fked. Good luck!

Or maybe they want a little time to work out what can safely be cancelled and what can't. Lets imagine you get a 20% pay cut tomorrow and must cut costs, you look at your finances do you cancel your mobile contract? do you cancel your home contents insurance or your mobile phone insurance, or do you look for a weekend job to help out for a month or two till you can end the contracts at no cost? The government is in this position, you can sack all the equality and diversity departments but if it costs more to sack them than to keep them on you haven't saved have you?

[petemurphy]

Sticks. said:

Bing o said:

petemurphy said:

Sticks. said:

Bing o said:

Pageo said:

If it was too pay for some windfarms then i would be all for it as it would create jobs as well. As im all for green power ( apart from the car ).

Oh dear. Urban Dictionary says; Like Gaylord and Divvy, one of the most offensive words a 7 year old schoolboy knows. Derived from Spastic, the now politically incorrect term for a person with cerebral palsy.

what are the other 4?!

Yes, I would like to know these too - I need to improve my vocabulary.

Indeed. Other 4 what?

oops read it wrong thought you said it was one of 7 most offensive words. whats wrong with gaylord its a big curry chain in asia!

[Silver993tt]

Engineer1 said:

you can sack all the equality and diversity departments but if it costs more to sack them than to keep them on you haven't saved have you?

does it though? Paying these people unemployement benefit is probably alot less than the large salaries that they are on plus there won't be any need for pension fund payments, annual leave payments, sick leave payments, maternity leave payments etc.

Edited by Silver993tt on Tuesday 4th January 12:58

[Sticks.]

petemurphy said:

whats wrong with gaylord its a big curry chain in asia!

Didn't know that lol. One in London too. Remember it vaguely from my youth = queer etc but prob fallen into disuse. Language eveolves I guess.

Anyway, VAT.......

[petemurphy]

am sure they would be better increasing the items that vat applies to rather than just raising the rate.

vat rise is not the prob its the sneaky rises that go with it a la rail fares that annoy.

[sidicks]

anonymous said:

[redacted]

Please can you clarify:
- Of the current deficit (circa £150bn) how much relates to bank bailouts
- Of the current debt (circa £1 trillion (published), circa £2bn off-balance sheet) how much relates to bank bailouts?

Thanks

Sidicks

[Mermaid]

VAT harmonization with the EU has been long overdue. How long before harmonization on the other taxes?

[derestrictor]

Singapore posting 14% growth for last year; I know, I know, population of 9, etc.

However, 20% top rate of personal income tax, 17% max Corporation, no CGT in either category, 7% VAT equivalent (dunno about stamp.)

Now then... no-low rates of tax and growth; many and higher rates of the same and stagnation...

[Silver993tt]

Mermaid said:

VAT harmonization with the EU has been long overdue. How long before harmonization on the other taxes?

Would be a good thing for the UK since they have some of the highest overall taxes in Europe.

[Fatman2]

rs1952 said:

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.

Eh, how come £638 ?

£30k + 17.5% = £35.25k
£30k + 20.0% = £36.00k

£750, although it's not the first time I've got my math wrong

Either way, £638 or £750 is a fair bit of cash especially when the majority of mobile phone users I see are £30k car drivers - in which case a £300 blue tooth kit for the car is clearly too much money

Fair comment although I'm sure it works both ways. The recent drop of 2.5% saw more people rushing to the forecourts in the belief that it was going to save a mint so am merely assuming the opposite to be true.

Edited by Fatman2 on Tuesday 4th January 13:19

[Kateg28]

Eric Mc said:

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 away

Wrong.

All restaurant and café meals are charged at Standard Rate VAT.

When VAT was introduced in 1973, there was a distinction between buying food in a restaurant and buying food to take away. The difference in treatment was abolished in the 1980s.

Nowadays, all meals are charged Standard Rate VAT if bought from a restaurant, café or takeaway. In grocery shops and supermarkets, some food is Zero Rated and some food is Standard Rated. There is a long and extensive list of foodstuffs and their VAT status. VAT on food can be very complicated and has led to some very odd cases - such as the Jaffa Cake case or the Ginsters Case (although it's debateable if Ginsters qualifies as "food").

Edited by Eric Mc on Tuesday 4th January 08:10

Slightly back to a previous post, this point is correct and mightily annoying. My OH runs a fish and chip shop and 3 doors away is a bakers. They both sell exactly the same hot pies and my OH has to charge VAT whereas they don't as they are exempt.

I did fill up the car last night as it was nearing empty and I admit I did it last night to beat the VAT but only as there was no queue at all. I would not have bothered to queue. I also went to the supermarket yesterday and it was absolutely rammed, we had to queue to get out of the car park which is just stupid. I have only just twigged from reading this that it might have been the VAT increase. Which wouldn't affect a substantial amount of the purchases. A large part of an hour of my life wasted through stupidity.