Hammond To Reduce VAT Threshold In Budget?

Hammond To Reduce VAT Threshold In Budget?

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Discussion

Eric Mc

122,032 posts

265 months

Wednesday 22nd November 2017
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That doesn't happen on the Continent where the VAT thresholds are much lower so I don't think it would happen here either. Indeed, with more businesses competing on a level playing field and less fearful of expanding, we would perhaps see an upturn in economic activity - not a decline.

fishseller

359 posts

94 months

Thursday 23rd November 2017
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Eric Mc said:
That doesn't happen on the Continent where the VAT thresholds are much lower so I don't think it would happen here either. Indeed, with more businesses competing on a level playing field and less fearful of expanding, we would perhaps see an upturn in economic activity - not a decline.
No you will see a decline, as purchasing non essentials will not be priority IE what I sell that is live fish foods Shrimps/Daphnia/Bloodworm's for the aquatic trade these are at a premium price as these have large cost implications. I have to collect quarantine package and courier to customers, who will drop me if I put my prices up to cover the VAT, and will purchase frozen or dried products that are half the price but far inferior to natural live foods but will make do, or will stop keeping fish .

Eric Mc

122,032 posts

265 months

Thursday 23rd November 2017
quotequote all
Is that what goes on in countries where the VAT threshold is low or non-existent?

fishseller

359 posts

94 months

Thursday 23rd November 2017
quotequote all
Eric Mc said:
Is that what goes on in countries where the VAT threshold is low or non-existent?
wouldn't know but people I meet rich and poor wants some thing for nothing or cheap as possible maybe its the trade i am in or a British thing ?

zombeh

693 posts

187 months

Thursday 23rd November 2017
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Eric Mc said:
The most common tactic reported is closing the business or stopping advertising (47% of those restricting turnover admitted this).
Presumably "lie about it to HMRC" wasn't a popular choice?

Eric Mc

122,032 posts

265 months

Thursday 23rd November 2017
quotequote all
zombeh said:
Eric Mc said:
The most common tactic reported is closing the business or stopping advertising (47% of those restricting turnover admitted this).
Presumably "lie about it to HMRC" wasn't a popular choice?
Just say nuttin' to HMRC probably was a VERY popular choice.