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Author Topic: When Does The New VAT Rate Kick In?  (Read 1743 times)

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theowletman

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Re: When Does The New VAT Rate Kick In?
« Reply #15 on: 27 November 2008, 20:41:00 »

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For most day to day stuff there'll be hardly any difference.  On a £100 shop at Tesco's the most difference it'll make is £2.50

Why not a shuffle of income taxe, perhaps raise the amount you earn before your taxed and may be slapping a 50% tax rate on everything earnt over say £250,000 in a year?
I don't think that food is subject to VAT, ( could be wrong though ) so very little difference.
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Parts_Monkey

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Re: When Does The New VAT Rate Kick In?
« Reply #16 on: 27 November 2008, 20:50:49 »

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Quote
For most day to day stuff there'll be hardly any difference.  On a £100 shop at Tesco's the most difference it'll make is £2.50

Why not a shuffle of income taxe, perhaps raise the amount you earn before your taxed and may be slapping a 50% tax rate on everything earnt over say £250,000 in a year?

Iwas being very vague and assuming the person was spending £100 on Digestives and Jelly Tots.

My main point was that if everything you bought had VAT, you would save £2.50.

For most people you will probable save more like £1, maybe £1.50?
I don't think that food is subject to VAT, ( could be wrong though ) so very little difference.
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Vamps

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Re: When Does The New VAT Rate Kick In?
« Reply #17 on: 27 November 2008, 23:02:20 »

Yes, I am going to save so much money that from Monday I will be on a spend spend spend.........................NOT, will make no difference to our spending which has been restricted recently as a result of high prices anyway. :-X
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Vamps

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Re: When Does The New VAT Rate Kick In?
« Reply #18 on: 27 November 2008, 23:09:00 »

Interesting comment on question time, would it not have been better to just remove VAT from gas and electric rather than a 2.5% overall, I think that would have been a good move.... :y
« Last Edit: 27 November 2008, 23:09:24 by floodm »
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