So...When is VAT dropping back down to 17.5%?

Vonhelmet said:
You add it to VAT to make the admin and collection easy. Do you have any idea what it would cost to legislate for and administer a new tax? It's obviously massively simpler to amend one section in one act than to bring in a whole new tax.
Click to expand...

It could have been increase in VAT specifically to pay for xyz or the 2.5% spelt out. Just "increasing VAT" without saying exactly what for makes it very easy to continue. Good example is the ozzie flood levy....

A whole new tax would be messy indeed.
 
Nevakonaza said:
No...they were voicing their opinions and thoughts,The only way they could really for the government to actually take any notice...if no one does anything about it,Our government will continue to take us for a ride.
i don't think it it will be the last time this will happen.
Click to expand...

You and your opinion are worthless.
 
mattyg said:
Running a business I used to pay 17.5% less for fuel than MOP(members of public) then it changed and I was only paying 15% less the MOP then it changed again and I'm now paying 20% less for fuel. I'm happy with it staying
Click to expand...

But only for fuel directly related to the running of your business and incurred for the purposes of that business. For your personal use fuel you're still paying the same VAT as the rest of us. Unless you are openly admitting to tax evasion on a public forum, which is an interesting thing to do.
 
Impy77 said:
But only for fuel directly related to the running of your business and incurred for the purposes of that business. For your personal use fuel you're still paying the same VAT as the rest of us. Unless you are openly admitting to tax evasion on a public forum, which is an interesting thing to do.
Click to expand...

O'rly, a business man slipping private expenditure through the books, gosh, I never thought that would happen, he really is a naughty naughty boy! :D
 
i dont know why they dont drop vat to 0% and fuel duty to 0%, although it will initially hit tax receipts, i think it would be massive for kickstarting the economy
 
I know people love to bitch about insurance companies but VAT is a huge expense to the industry. Personally I don't mind it staying fixed as the continuously changing rate has been inconvenient.
 
[TW]Fox;20823922 said:
It's fairly obvious when they do it on fuel though and HMRC often pick up on it.
Click to expand...

Nah, I've been involved with many VAT inspections over the years for a large range of SME's and the overarching common factor is how little the inspectors actually want to find. As long as you give them something, they have ticked the box and go away happy.
 
[TW]Fox;20823973 said:
If you think a bit harder you should be able to work out why.
Click to expand...

i think the billions lost in tax revenue would be offset by stimulating the economy, better than the billions government is spending trying to achieve the same result.

People are better spending money than governments are, so leave them to get on with it. Smaller government, smaller taxes, happier life
 
culvers said:
i think the billions lost in tax revenue would be offset by stimulating the economy, better than the billions government is spending trying to achieve the same result.

People are better spending money than governments are, so leave them to get on with it. Smaller government, smaller taxes, happier life
Click to expand...

It depends on why you what you think tax is philosophically for.

If you believe that tax should be redistributive in nature, then the idea with VAT et al would be to tax "luxuries" and other non-essential items to fund social protection, education, and so on.

The idea of VAT is a good one - it's good because it's a very efficient tax, unlike a sales tax or similar which are easier to circumvent to a larger extent. In terms of being regressive in nature, the issue that most people have with VAT is that it doesn't tax only luxury goods or non-essentials, and perhaps the scope should be narrowed slightly so that it doesn't encompass those goods.

Kick starting the economy comes from job creation, which comes primarily from small, start-up businesses. To encourage these, the government needs to cut or significantly reduce business rates which are an extremely regressive tax on small businesses. The issue with rates is that businesses have to pay them whether they make any sales or not, and this is partly why you see high streets full of charity shops these days.
 
Last edited:
USA in Iraq 1Trillion $ for what?

We are indeed being taken for a ride, we need public votes before commencing in anything that affects us all
 
[TW]Fox;20824887 said:
I can't think of anything worse.
Click to expand...

Call 09066 445501 to vote YES to the VAT rise
Call 09066 445502 to vote NO to the VAT rise

Please register your vote by midnight, calls and texts after this time may be charged but will not be registered.
 
daz said:
Call 09066 445501 to vote YES to the VAT rise
Call 09066 445502 to vote NO to the VAT rise

Please register your vote by midnight, calls and texts after this time may be charged but will not be registered.
Click to expand...

Charge the 'no' calls at ten times the cost of the 'yes' calls and it's win-win.
 
remove VAT from fuel, cut income tax by 5% on all brackets and increase VAT to 25% and remove the 5% vat on energy bills aswell. More money in your hand to spend overall to still be able to buy luxury items.
 
You must log in or register to reply here.
Back
Top Bottom