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[Mr Skrunts]

I notice some retailers are advertising it allready.

But I just placed an Electrical Parts order and they are still charging t 17.5%

Be interesting to see if pubs and takeaways drop prices accordingly.

[ngrainqey]

I notice some retailers are advertising it allready.

But I just placed an Electrical Parts order and they are still charging t 17.5%

Be interesting to see if pubs and takeaways drop prices accordingly.

there shouldnt be vat on food anyway :S
or are takeaways exempt from that so can charge vat?

[Jimbob]

Meant to be 1st Dec

[Jimbob]

Only VAT free food are essentials...

VAT is on crisps, biscuits, convienience foods etc and Deffo on 'served' food, ie takeaways, pubs etc

[Mr Skrunts]

I notice some retailers are advertising it allready.

But I just placed an Electrical Parts order and they are still charging t 17.5%

Be interesting to see if pubs and takeaways drop prices accordingly.

there shouldnt be vat on food anyway :S
or are takeaways exempt from that so can charge vat?

VAT on takeaways was introduced in the 80's

All menus will/should disply "all prices include VAT"


Didnt you realise you pay Tax on what you earn and VAT on most things that you enjoy.

[Leomas]

Meant to be 1st Dec

I can confirm that. I have had my advisory from HMRC with the 28 pages of rules on how to deal with the change


OK it's actually only 4 pages......still a horrendous task and I have to hope that the guys who support my accounts software get the update in place in time as I hate doing 'on the fly' tweaks 'cause you just know it going to cause problems later down the line :-/

[iggy21uk]

I notice some retailers are advertising it allready.

But I just placed an Electrical Parts order and they are still charging t 17.5%

Be interesting to see if pubs and takeaways drop prices accordingly.

He put the  duty up to compensate  so booze wont be any cheaper
also when vat goes  back up the duty is not going down - barsteward  

Put air fare tax  up as well  from next year  :-/

[theowletman]

This enormous 2.5% decrease is meant to get the public spending to ease the recession.
Well, after a year of high fuel prices, petrol, derv, elec, gas etc.
After the 10p in the pound tax cock up.
After large amounts of redundancies, bankruptcies, rising food prices, short time working, unavailibility of loans, mortgages, credit cards, overdrafts, loss of savings / share values, Icelandic banks and all those other depressing items:
JUST WHO HAS ANY MONEY LEFT TO SPEND??

And by the way, the decrease in VAT on fuel, alcohol and tobacco is being offset by a rise in duty.

[Mr Skrunts]

Didnt watch any of it so not 100% on what actualy changed.

[theowletman]

Didnt watch any of it so not 100% on what actualy changed.

Nothing really mate, just more debt for future generations. They should be reducing government debt, not increasing it. Build more prisons, deport those who should not be here would be a start.

[waspy]

Didnt watch any of it so not 100% on what actualy changed.

Nothing really mate, just more debt for future generations. They should be reducing government debt, not increasing it. Build more prisons, deport those who should not be here would be a start.

Yep, then maybe i'd get my job back

[Field Marshal Dr. Opti]

Not sure that a 2.5% drop in VAT will make much of an impact on the economy........I'll wager that not everybody passes it on as well. :-/

[LaserLance]

Heard some finacail bod on radio reckon that a lot of firms will not pass it on as it will go on there bottom line and keep them in profit ,bit of a cheek that really ,not that its gonna make much difference to anything

[Entwood]

Had a conversation with the Caravan Retailer today .. as I pick up the new 'van after the VAT rate change, and invoice date is collection date not order date ... looks like I'll get about £300 reduction ...

[Parts_Monkey]

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?