V.a.t. Going Up.....

I don't know how many dealers are going to wave the rise, i for one will not pass it on, in some cases i can see a problem with very expensive hi-fi, but since the P.M. is quite high i think it wont be missed, what do you guys think?

 

I'd expect the increase to remain for at least this parliament and probably through the next.

 

I think it will/should be a permanent rise - who noticed any real effect of the previous VAT cut? I certainly didn't.

 

It disproportionately impacts the poorest in terms of the overall spend, so I'd prefer the additional revenue loaded onto income tax where you can target any rise towards those better able to pay it.

 

note: it is going to go to 23% in 2013,

 

I doubt it will be 23% maybee 25%
It has always been kept at a rate that can worked out with ease on paper or in the average Joe's head.

 

most probably that will be the case.

 

Stay at 20% - sensible £1.25 on a £50 shop, pennies on small items. We'll not really notice, unlike energy price rises.

 

energy prices? wait till they put v.a.t on the air we breathe.

 

You may not notice VAT changes, I and millions of others do.

 

Dick - didn't mean to sound patronising, the comment was prompted by my experience of the rate cut made by the previous government. I had hoped to notice some difference when this took place - hand on heart I noticed nothing significant.
I know as much of your circumstances as you know of mine ;-) but in the grand scheme of things did you notice significant benefit from the drop in VAT? The corollary being that the small rise should not cause significant hardship.

 

neal, let's see what is more to come,be afraid be very afraid

 

Yes I did notice when VAT was temporarily reduced. Something I noticed more was that some retailers decided that they would not pass this reduction on to their customers.

 

As consumer in Switzerland I'm happy that the VAT is at the moment 7.6% and from 2011 8.0%.

 

This will effect me as I run an IT support company for domestic users. It involves buying parts and now those parts will be 2.5% more expensive. Thankfully I am not VAT registered or it could be a lot worse.

 

do you declare your earnings?

 

i don't think you have to in the caiman islands, i could be wrong,

 

Ha its a long way from manchester for AT

seriously though...anybody not declaring earnings is effectively stealing from the state, that includes police, nhs, schools, roads, fire brigade, etc etc etc. Not good.

 

i agree, but what about the state robbing from us? and when they say cuts and we must pay for the deficit of the country's economy who exactly are we paying for?!!!!!!!!!

 

I pay my income tax and national insurance. They are the two taxes I have to pay by law. My turn over is no where near enough to be VAT registered as I don't sell computers etc. The most expensive part I probably sell is a motherboard and I do a handful of them a year.

I pay all the taxes I have to by law as I don't like the sound of jail.