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VAT increase

ricko Avatar
6y, 3w agoPosted 6 years, 3 weeks ago
Just got my usual email from moneysavingexpert and theres a little info on the VAT increase :

Warning! VAT hike next week
This is 'golden week' with sales on and VAT still 17.5%
If you've planned big purchases, this week's likely to be perfect timing, as the sales intersect with the lower VAT rate. VAT hiked next Tue: On 4 Jan the tax increases from 17.5% to 20%, meaning something that costs £100 now will cost £102.13 then. Will all retailers pass it on? No. VAT is a tax on businesses, so it's up to them -

spot the mistake !

So, the increase is not going to be so bad after all .
ricko Avatar
6y, 3w agoPosted 6 years, 3 weeks ago
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Comments/page:
#1
its still bad, £2.13p is still money.


EDIT: every penny counts :)

Edited By: farhadmaster on Dec 30, 2010 14:41
banned#2
thread fail - CALC IS CORRECT

Edited By: csiman on Dec 30, 2010 14:48
#3
Is it the 'expert' bit? (_;)
banned#4
Seems I have to spell it out lol

item costing £85.11 will have £14.89 VAT @ 17.5% = total of £100

item costing £85.11 will have £17.02 VAT @ 20.0% = total of £102.13

Edited By: csiman on Dec 30, 2010 14:54
banned#5
Something thats £100 is still likely to be £100
Prices vary from day to day anyway, its just now the government will get a bigger cut
banned 1 Like #6
whatsThePoint
Something thats £100 is still likely to be £100
Prices vary from day to day anyway, its just now the government will get a bigger cut

the point of the thread was highlighting that MSE hadnt got the new VAT calc correct. They have so its a bit of a fail by the op tbh. ;)
3 Likes #7
csiam- Meh, fancy pulling the rod out from your glory hole anytime soon.....
#8
I think the biggest hit will be in the monthly bills.

Food, Drink, Electricity, Gas, Phone bills, Credit Cards, Etc........

Once all the above are paid it will take away from the amount of money that an average family will have left for saving for a holiday, going out and spending on a new TV for the home :)
banned#9
emmalampkin
csiam- Meh, fancy pulling the rod out from your glory hole anytime soon.....

you sound like a :-

charming young lady [ ]

a badly educated foul mouthed chavette tart [X]

Edited By: csiman on Dec 30, 2010 16:18
#10
erm it isn't a tax on business as 99.9% of them can reclaim the VAT - it's a tax on joe public.
banned#11
geoneo123
I think the biggest hit will be in the monthly bills.

Food, Drink, Electricity, Gas, Phone bills, Credit Cards, Etc........

Once all the above are paid it will take away from the amount of money that an average family will have left for saving for a holiday, going out and spending on a new TV for the home :)

Oh dear! Best only comment when you know what you are talking about - Supermarket food is generally 0%, gas / electric are 5%, Credit card bills dont attract VAT!

These arent changing
#12
csiman
geoneo123
I think the biggest hit will be in the monthly bills.Food, Drink, Electricity, Gas, Phone bills, Credit Cards, Etc........Once all the above are paid it will take away from the amount of money that an average family will have left for saving for a holiday, going out and spending on a new TV for the home :)
Oh dear! Best only comment when you know what you are talking about - Supermarket food is generally 0%, gas / electric are 5%, Credit card bills dont attract VAT!These arent changing

Yep food is always zero Vat, unless its classed as a luxury, chocolate etc or sold hot. Bog roll should be VAT free imo its not like theres an alternative.

Heres a little article

http://www.guardian.co.uk/uk/2010/jun/22/vat-rise-average-shopping-basket
2 Likes #13
It makes me angry that they still charge 5% vat on sanitary items. They should give them out free, we can't help it!!!
1 Like #14
midjet666
It makes me angry that they still charge 5% vat on sanitary items. They should give them out free, we can't help it!!!


THIS^^^^

its not its a luxury!!!!!
#15
csiman
emmalampkin
csiam- Meh, fancy pulling the rod out from your glory hole anytime soon.....

you sound like a :-

charming young lady [ ]

a badly educated foul mouthed chavette tart [X]


Oooh i like it when you call me filthy names. ;)

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