Bad news

In the same budget he has reduced the VAT on ski lifts from 20% to 5% as he reclassed them as "public transport".... Osbourne is a very keen skier, go figure :p
 
[FnG]magnolia;21566841 said:
BEEP BEEP BOOP I AM A ROBOT AND DON'T UNDERSTAND THE HUMOUR IN SWEEPING AND GENERALISED STATEMENTS
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Genuine lol. I love you sometimes Magnolia :)
 
I would suggests no one in this thread understands the background. in essence it's to do with the definition of how the food is supplied to the consumer.
 
Robbie G said:
Go on......
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Essentially, and bearing in mind I try to steer clear of VAT, it's to do whether someone is supplying you hot food (which is VATable) or whether it's food that happens to be hot but isn't meant to be served specifically hot (e.g. a sausage roll that has just come out of the oven but is meant to be served cold).

Whilst the focus is on Greggs in this thread I doubt very much that's where the changes are aimed at and is most likely being used as a popular figurehead to score some political points. In actual fact the distinction between hot food and food which happens to be hot is a fine line and clarification of it is sensible, if only to prevent lost taxes and more importantly reduced costs from cases going all the way through the appeals process.

I understand though I can't remember where this came from that several places have used the "food that just happens to be hot" argument to avoid paying VAT. If that wasn't the intention of parliament then they should tighten up the rules.
 
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