Vat will gone up next Jan

Heard from my friend who received letter from sky saying that VAT will gone back to 17.5% next Jan.

10 Comments

no surprises there then it had to go back up at some point next will be the percentage on peoples morgages.

Wont it be going up to 20% at some point?

This was announced last month i think..

That is correct. Dropping VAT was a pretty pointless thing to do in the first place - I'm sure that nobody went out to buy a new TV just because it was 2.5% cheaper! It was only meant to last 1 year. The VAT drop has cost the exchequer millions and not achieved anything.

Titchimp;6041466

This was announced last month i think..



It was announced when the cut was initially made, this 15% stuff was always a limited time offer.

Banned

Starr;6041463

Wont it be going up to 20% at some point?



Only if conservatives get in, they say. they will increase it :thumbsup:

Banned

Spod;6041469

That is correct. Dropping VAT was a pretty pointless thing to do in the … That is correct. Dropping VAT was a pretty pointless thing to do in the first place - I'm sure that nobody went out to buy a new TV just because it was 2.5% cheaper! It was only meant to last 1 year. The VAT drop has cost the exchequer millions and not achieved anything.




:w00t:

VAT 'idiocy' will cost businesses at least £300 million
The changes in VAT during the recession will cost British businesses at least £300 million, the Treasury has admitted, as a leading businessman said only a "congenital idiot" would implement a rise on New Year's day.

It cost our business nearly £300,00 to change our prices with overtime to pay our staff to manually change the prices......and again it is going to be the same amount again to put them back up again!!!! WTF this government is MAD!!!!!

Spod;6041469

That is correct. Dropping VAT was a pretty pointless thing to do in the … That is correct. Dropping VAT was a pretty pointless thing to do in the first place - I'm sure that nobody went out to buy a new TV just because it was 2.5% cheaper! It was only meant to last 1 year. The VAT drop has cost the exchequer millions and not achieved anything.



It wasn't even 2.5% cheaper, it was just 2.5% less surcharge, which I think worked out at a total discount of 2.13%. Not that I can say a word against the discount, since Sainsbury's quite beautifully implemented it by issuing a refund of 2.13% against the price of the item, but because their systems apparently can't divide or support variables in their code, the subtraction worked by deducting the pre-defined amount, which was usually more than I paid for the item. Their lightbulb deal was my favourite example of this - £1 each normally, but buy 5, and they become 10p each, and then 7p each because of the VAT deduction.

Looking forward to this, more money in my pay packet!!!!
Post a comment
Avatar
@
    Text
    Top Discussions
    1. LG Watch Style worth buying for £75?11
    2. 'Hard' Brexit offers '£135bn annual boost' to economy - BBC News77
    3. Just heard this...2 ★★★★★★★★★★★★★★ congrats to all on 392k ★★★★★★★★★★★★★★7764386
    4. How dangerous is Donald trump?33197

    See more discussions