I'm saying that once a service based company becomes vat registered it can eat into their profits.
Why?
I'm saying that once a service based company becomes vat registered it can eat into their profits.
Why?
Many businesses are service based, they dont revolve around selling products, so when they have to start paying vat it cuts into their profits because they cant claim back any or they lose customers if they increase their prices to compensate.
Welcome to the UK, where the man takes 20% of everything you own. They'll be taking a few inches with a penis tax soon.
I'm saying that once a service based company becomes vat registered it can eat into their profits.
It's pretty much the same in other European countries so the UK isn't doing anything out of the ordinary.
Feel free to move to Switzerland, or a country outside of Europe with a lower VAT rate, if you don't like "the man" taking ~20% of "everything you own".
VAT is only one of 1,000,000 taxes enforced in the UK. Hence the penis comment. It isn't the fact they have VAT it's the fact they tax everything they can, and then waste the money.
The government are seriously trying to pass a law that'll force the elderly to work volunteer or risk losing half their pension. Don't know how people can defend this country out of anything other than blind patriotism tbh.
No offence.
No offence taken.
Your post I commented on was related to VAT not another 999,999 taxes.
If you don't like this country then feel free to move elsewhere.
No offence.
I wasn't commenting on the VAT alone though, it's everything.
Yes, but you're wrong, what service companies?
As others in the thread have stated, what I have said is correct, this is not difficult to work out.
My apologies for misunderstanding your comment.
Posting in a thread about VAT and stating "where the man takes 20% of everything you own" (which is the standard rate of VAT) led me to believe that it was just VAT you were referring to.
its much fairer because unlike vat income tax is means tested to a degree.
Of course VAT is means tested. If you're broke, you don't buy ****. If you have lots of money, you buy lots of **** and pay lots of VAT. Unless you're seriously proposing that scaling VAT % based on gross income is a sensible thing to do.
What service companies are you talking about? Third time of asking.
Many businesses are service based, they dont revolve around selling products, so when they have to start paying vat it cuts into their profits because they cant claim back any
None in particular. I don't understand why you keep asking that irrelevant question.
Many businesses are service based, they dont revolve around selling products, so when they have to start paying vat it cuts into their profits because they cant claim back any