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VAT Rise coming?

schizoboy Avatar
6y, 6m agoPosted 6 years, 6 months ago
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schizoboy Avatar
6y, 6m agoPosted 6 years, 6 months ago
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#2
It needs to rise
#3
robappleby89;8593472
It needs to rise


Not denying that, also it has the benefit of not affecting peoples incomes or vital things like food or childrens clothes, people could always learn to live with what they have with a bit longer instead of being addicted to shopping for things they want but not need.
#4
No reason why not, one Margaret Thatcher raised it from 15% to 17.5%.:roll:
#5
Inactive;8593474
No reason why not, one Margaret Thatcher raised it from 15% to 17.5%.:roll:


No Doubt Millibands (maybe?) 1st arguement against it, ultimately what matters if if ConLib MPs will push it through over Labour&Co
#6
Tax rises are the last thing people need, no matter how unseen they are.
#7
deathtrap3000;8593486
Tax rises are the last thing people need, no matter how unseen they are.


Far from unseen, this will be all over the media, I don't mind people being against Government raising money, but last time i lashed out against those on benefits, everyone moaned at me, anyone else got a solution for paying off our stupid, consumerist, greedy, materialist, debt?? People want to only blame bankers, look at your own past few years of loans and credit card use 1st tbh.
banned#8
Of course there is a vat rise coming, the tories got in.

That said 2.5p out the £ wont make a hughe difference to most peoples budget's but may just help improve public services etc
#9
lottysdad08
Of course there is a vat rise coming, the tories got in.

That said 2.5p out the £ wont make a hughe difference to most peoples budget's but may just help improve public services etc


except when you want to buy a new tv or car. then you will notice a difference.
#10
schizoboy
Far from unseen, this will be all over the media


I didnt mean the media coverage, I meant the actual prices, unseen in most places except on the more expensive items.
#11
deathtrap3000;8593521
I didnt mean the media coverage, I meant the actual prices, unseen in most places except on the more expensive items.


True, but the initial mindset will be there, which will hopefully bring about some bloody frugality.
#12
dcx_badass
£600 TV = £15 extra. Life changing....


yep and then multiply that across an average year of spending and then its pretty life changing.
#13
robappleby89
It needs to rise


schizoboy
Not denying that, also it has the benefit of not affecting peoples incomes or vital things like food or childrens clothes, people could always learn to live with what they have with a bit longer instead of being addicted to shopping for things they want but not need.


Inactive
No reason why not, one Margaret Thatcher raised it from 15% to 17.5%.:roll:


schizoboy
Far from unseen, this will be all over the media, I don't mind people being against Government raising money, but last time i lashed out against those on benefits, everyone moaned at me, anyone else got a solution for paying off our stupid, consumerist, greedy, materialist, debt?? People want to only blame bankers, look at your own past few years of loans and credit card use 1st tbh.


dcx_badass
I don't care, honestly 2.5% isn't much on most things and somethings might not even rise anyway.


lottysdad08
Of course there is a vat rise coming, the tories got in.

That said 2.5p out the £ wont make a hughe difference to most peoples budget's but may just help improve public services etc


deathtrap3000
except when you want to buy a new tv or car. then you will notice a difference.




i could qoute every reply in this thread,which i nearly have,
but someone explain to me if im wrong?
its a tax on buying?
well anyway,its the easiest and most understanable tax there is,we are in deep deep dog doo,so whack up the vat
look at europe,we need to wake up fast
i think this coalition could be actually amazing. the best of two parties
no?
#14
dcx_badass
Not really, seeing as thought it only affects luxury goods. And even then only if you're poor.


£650 p/a per household is pretty noticeable in my books, and even if your pretty well off you will see a difference.
#15
dcx_badass
Where did you get that £650 p/a figure from? Just made it up?


take the average weekly spend and you can work it out
its rough but gives a good picture of the cost
#16
dcx_badass
For an increase of £650p/a. You have to spend £26,000 a year on luxury goods, I doubt many do that. You either suck at maths or are trying to cause trouble.


yes i suck at maths. thats why I said i took the average weekly spend. key word average...

and why just luxury goods?
do they not tax other things?
banned#17
deathtrap3000
except when you want to buy a new tv or car. then you will notice a difference.


£12,000 grand car would only cost an extra £300, so not the end of the world
#18
dcx_badass
You think they average weekly spend is £490? Are you kidding me. You do realise this is VAT, which is only added to luxury goods you purchase.

You're too stupid to even bother arguing with. Normal food items are not taxed, and even if they were seriously who spends £490 a week. So clueless.


Thanks for the insults.

Still not understanding the average bit though.
#19
I don't mind a VAT increase but I think it ought to come with a reconsideration of exactly which things attract VAT, like for instance in this day and age can bog roll really be considered a luxury?
#20
dcx_badass
£600 TV = £15 extra. Life changing....


Sorry?

This could destroy businesses.

When the VAT went down 2.5%, that was MEGA for businesses.
#22
Personal Budget Planner. Might be of use.(from MSE link )
http://www.budgetbrain.com/budgetplanner/edit/191529
#23
Wotwot123
Sorry?

This could destroy businesses.

When the VAT went down 2.5%, that was MEGA for businesses.


The only reason it was "Mega" for business is because most of the greedy B*****d's didn't pass the cut on to the consumer so it meant an extra 2.5% profit for them.
Most business on the UK overcharge for products by an average 60% in any case so absorbing this would cost nothing.
#24
059
The only reason it was "Mega" for business is because most of the greedy B*****d's didn't pass the cut on to the consumer so it meant an extra 2.5% profit for them.
Most business on the UK overcharge for products by an average 60% in any case so absorbing this would cost nothing.


That is complete rubbish.

Tens of thousands of businesses operate with little to no profit i.e. Hotels, Cafes, Laundrettes. - I'm not speaking of places like Starbucks or Comet, I'm speaking about the high majority of businesses, the ones in towns and cities you never hear of because they are not nation wide.

I know of many businesses that run at a very small loss because the owners like what they do and provide to the public, so when the VAT decreased, they actually made a little bit of money for themselves, and ANY amount of extra money for small to medium sized businesses is good. Imagine an increase and all these businesses will go, not because they are poor or fail, because they are in a part of the business world that is pretty much unseen.

Small to Medium sized business don't make an awful lot of moneyas people think, a hotel (with 15 - 30 rooms) with a turnover of half a million will make around £50,000 profit at the end of the year - So imagine all the small hotels profit margins, so small it's normally easier to work for someone else in a 9 - 5 job.
#25
Wotwot123
That is complete rubbish.

Tens of thousands of businesses operate with little to no profit i.e. Hotels, Cafes, Laundrettes. - I'm not speaking of places like Starbucks or Comet, I'm speaking about the high majority of businesses, the ones in towns and cities you never hear of because they are not nation wide.

I know of many businesses that run at a very small loss because the owners like what they do and provide to the public, so when the VAT decreased, they actually made a little bit of money for themselves, and ANY amount of extra money for small to medium sized businesses is good. Imagine an increase and all these businesses will go, not because they are poor or fail, because they are in a part of the business world that is pretty much unseen.

Small to Medium sized business don't make an awful lot of moneyas people think, a hotel (with 15 - 30 rooms) with a turnover of half a million will make around £50,000 profit at the end of the year - So imagine all the small hotels profit margins, so small it's normally easier to work for someone else in a 9 - 5 job.


:thumbsup: Well Said
#26
Wotwot123;8593713
That is complete rubbish.

Tens of thousands of businesses operate with little to no profit i.e. Hotels, Cafes, Laundrettes. - I'm not speaking of places like Starbucks or Comet, I'm speaking about the high majority of businesses, the ones in towns and cities you never hear of because they are not nation wide.

I know of many businesses that run at a very small loss because the owners like what they do and provide to the public, so when the VAT decreased, they actually made a little bit of money for themselves, and ANY amount of extra money for small to medium sized businesses is good. Imagine an increase and all these businesses will go, not because they are poor or fail, because they are in a part of the business world that is pretty much unseen.

Small to Medium sized business don't make an awful lot of moneyas people think, a hotel (with 15 - 30 rooms) with a turnover of half a million will make around £50,000 profit at the end of the year - So imagine all the small hotels profit margins, so small it's normally easier to work for someone else in a 9 - 5 job.


decorating1;8593725
:thumbsup: Well Said

Agree.
I was attempting to get some clarification on how much was a billion....
If you are American, it is undoubtedly 1,000,000,000. This amount is known to traditionally minded British people as `a thousand million', and by some more adventurous ones as a 'milliard', though this word has not made as much headway in English as in some other European languages. A trillion is then 1,000,000,000,000, and so on.

If you are British, on the other hand, a billion may be 1,000,000,000,000 (a million million), following the older convention. If you are neither British nor American, you can take your pick! (Both systems were invented by the French, but are called 'British' and 'American' for convenience.)

Does anyone know for sure what figure is used?
banned#27
A good way of raising income I reckon

we have one of the lowest VAT rates in the EU so 20-22% is fair. Better than 1% NI rise affecting every employee.

http://en.wikipedia.org/wiki/Value_added_tax#EU_countries
banned#28
lottysdad08;8593507
Of course there is a vat rise coming, the tories got in.

That said 2.5p out the £ wont make a hughe difference to most peoples budget's but may just help improve public services etc

guess you didnt notice the plans to scrap labours 1% NI rise then :whistling:

or Labours 100+ stealth tax rises over the last 13 years :roll:
#29
A regressive taxis a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. In simpler terms, a regressive tax imposes a greater burden (relative to resources) on the poor than on the rich

csiman;8593843
guess you didn't notice the plans to scrap labours 1% NI rise then :whistling:
or Labours 100+ stealth tax rises over the last 13 years :roll:


"Stealth Tax" ..
I see your still quoting from the Tory Book of Spin.

Get ready for "Stealth Cuts + Stealth Tax" under the Tories.
#30
Did the tories say they were going to raise VAT in their manifesto?
#31
Bear in mind, if Tories did do it, they'd be quoted back at how much a failure the VAT cut was when they were in opposition, so if the reduction was a failure why would a increase be good?

We'll see innit :)
banned#32
deathtrap3000
Thanks for the insults.

Still not understanding the average bit though.


VAT isn't charged (zero rated) on food, drinks etc so the point that is trying to be pointed out to you is that you will not see much of a difference in your weekly spending for basic goods.

Look HERE for VAT exempt items. Hope that helps. (Or move to Jersey!)

splatsplatsplat
Did the tories say they were going to raise VAT in their manifesto?


Yes, it was clear and it is the better option than Labours NI increase.

VAT is more or less a 'choice' tax. You can get through basic living without having to pay much of it. A lot has been said that Tories will tax the poor. This shows that analogy is absolute rubbish and the exact opposite is true. Those who will be hit with this are those who replace their cars every year, buy expensive luxury items and are pretty frivolous on non essential purchases.

A raise in VAT may also mean we get better offers from retail stores. The high streets will be plastered with "2.5% off everything!" when VAT rises to 20% - exactly the same as when it went back up from 15% to 17.5%.

It's all good for the consumer. Just not great for those buying Porsches and Ferraris!
#33
JonnyTwoToes
VAT isn't charged (zero rated) on food, drinks etc so the point that is trying to be pointed out to you is that you will not see much of a difference in your weekly spending for basic goods.

Look HERE for VAT exempt items. Hope that helps. (Or move to Jersey!)



Yes, it was clear and it is the better option than Labours NI increase.

VAT is more or less a 'choice' tax. You can get through basic living without having to pay much of it. A lot has been said that Tories will tax the poor. This shows that analogy is absolute rubbish and the exact opposite is true. Those who will be hit with this are those who replace their cars every year, buy expensive luxury items and are pretty frivolous on non essential purchases.

A raise in VAT may also mean we get better offers from retail stores. The high streets will be plastered with "2.5% off everything!" when VAT rises to 20% - exactly the same as when it went back up from 15% to 17.5%.

It's all good for the consumer. Just not great for those buying Porsches and Ferraris!


Exactly, i was going to post pretty much the exact same, however, someone is still going to dispute it in a few posts time.

There will be another thread when it is actually implemented aswel, in which we have to go through the whole thing again.

btw, where did the exit poll thread go??
banned#34
ivegotalobon
Exactly, i was going to post pretty much the exact same, however, someone is still going to dispute it in a few posts time.

There will be another thread when it is actually implemented aswel, in which we have to go through the whole thing again.

btw, where did the exit poll thread go??


Mods deleted it - unsure why. I'm guessing they didn't like the fact I was right all along! :-D
banned#35
csiman
A good way of raising income I reckon

we have one of the lowest VAT rates in the EU so 20-22% is fair. Better than 1% NI rise affecting every employee.


So you'd rather pay 20% VAT on everything you buy, than a 1% increase in NI?

You maaaaaad?
[mod][Moderator]#36
Yeah I've always considered sanitary products for ladies a luxury, why don't we just go without
banned#37
guv
So you'd rather pay 20% VAT on everything you buy, than a 1% increase in NI?

You maaaaaad?


Try reading it again. People need to educate themselves on exactly what we pay VAT on - what items we buy on a daily basis that are zero rated VAT.

This really is the core problem with most 'discussions' on here. People just aren't educated enough to know what they are talking about half the time! :roll:
#38
I don't often agree with dcx's view points, or at least how he gets to them. However, on this one I completely agree that VAT rise of 2.5% is nothing really, and we will only see it on luxuries as such. Thus hopefully making us more of a buy when needed, not buy when we like nation.

But as pointed out 2.5% extra is not much, even on an average car which might cost £10-12k? That is only an extra £250-300. Which if buying a car you are not going to realise. Even on dcx's example of a £600 TV, it is only £15. Thus if you are spending £600 on a TV £15 is not going to bother you.

Also as csiman stated we actually have a lower VAT then most of europe as well.
#39
JonnyTwoToes
Try reading it again. People need to educate themselves on exactly what we pay VAT on - what items we buy on a daily basis that are zero rated VAT.

This really is the core problem with most 'discussions' on here. People just aren't educated enough to know what they are talking about half the time! :roll:


Standard rate
You pay VAT on most goods and services in the UK at the standard rate, which is 17.5 per cent.

Reduced rate
In some cases, for example children's car seats and domestic fuel or power, you pay a reduced rate of 5 per cent.

Zero rate
There are some goods on which you don't pay any VAT, like:
food
books, newspapers and magazines
young children's clothing and footwear
special exempt items - for example equipment for disabled people
banned#40
awoodhall2003
Standard rate
You pay VAT on most goods and services in the UK at the standard rate, which is 17.5 per cent.

Reduced rate
In some cases, for example children's car seats and domestic fuel or power, you pay a reduced rate of 5 per cent.

Zero rate
There are some goods on which you don't pay any VAT, like:
food
books, newspapers and magazines
young children's clothing and footwear
special exempt items - for example equipment for disabled people


Let people read the full list HERE rather than filtering.

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