Found 30th Dec 2010
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 .

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15 Comments

its still bad, £2.13p is still money.


EDIT: every penny counts
Edited by: "farhadmaster" 30th Dec 2010

Banned

thread fail - CALC IS CORRECT
Edited by: "csiman" 30th Dec 2010

Is it the 'expert' bit? (_;)

Banned

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" 30th Dec 2010

Banned

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

whatsThePoint

Something thats £100 is still likely to be £100Prices vary from day to d … Something thats £100 is still likely to be £100Prices 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.

csiam- Meh, fancy pulling the rod out from your glory hole anytime soon.....

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

emmalampkin

csiam- Meh, fancy pulling the rod out from your glory hole anytime … 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" 30th Dec 2010

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

geoneo123

I think the biggest hit will be in the monthly bills.Food, Drink, … 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

csiman

Oh dear! Best only comment when you know what you are talking about - … 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

guardian.co.uk/uk/…ket

It makes me angry that they still charge 5% vat on sanitary items. They should give them out free, we can't help it!!!

midjet666

It makes me angry that they still charge 5% vat on sanitary items. They … 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!!!!!

csiman

you sound like a :-charming young lady [ ]a badly educated foul mouthed … 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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