VAT to 20%?
13 March 2002, 03:52 PM
#5
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Just had the Council Tax Bill it's 9% greater than last year, how can it be justified ? I know what response I'd get if I asked for a salary increase of 9%. BAR5TARDS 
13 March 2002, 04:00 PM
#6
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Council tax up by 4.8%
Water/sewerage up by 8.9%
robbing barstewards ...
Good thing I'm flying back to Australia on the 3rd of April, so I'm only due to pay 3 days of council tax = £9.86
Andrew.
Water/sewerage up by 8.9%
robbing barstewards ...
Good thing I'm flying back to Australia on the 3rd of April, so I'm only due to pay 3 days of council tax = £9.86
Andrew.
13 March 2002, 04:05 PM
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How come everyone has to pay loads of council tax and I get paid nothing working for the local council?! ..er..guess you lot wouldn't know...maybe I'll ask someone else! 
anyway...
20% ?! No way! That's slightly annoying [img]images/smilies/mad.gif[/img]
anyway...
20% ?! No way! That's slightly annoying [img]images/smilies/mad.gif[/img]
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13 March 2002, 04:33 PM
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Where did you get this info from?
That would have a massive impact on our already fragile economy. Having the price of pretty much everything jump up by 2.5% above inflation would kill the consumer spending thats currently keeping us out of recession
Just as well i've bought all my expensive stuff for the next 3 years now!
[Edited by Neil Smalley - 3/13/2002 4:35:59 PM]
That would have a massive impact on our already fragile economy. Having the price of pretty much everything jump up by 2.5% above inflation would kill the consumer spending thats currently keeping us out of recession
Just as well i've bought all my expensive stuff for the next 3 years now!
[Edited by Neil Smalley - 3/13/2002 4:35:59 PM]
13 March 2002, 04:56 PM
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A VAT rate of 20% would only make sense if they were preparing for tax harminisation to go into the Euro
Maybe the referendum we've been promised will be asking 600 people who work in a building next to bigben what they think!
Maybe the referendum we've been promised will be asking 600 people who work in a building next to bigben what they think!
13 March 2002, 07:53 PM
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Zoog - you're right Labour aren't that stupid - they'll continue to take it off our pensions (the ones in 10-20 years time that is).
More tax - maybe they'll use it on something useful like another dome or something !
More tax - maybe they'll use it on something useful like another dome or something !
13 March 2002, 07:58 PM
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Labour are stupid but not THAT stupid surely? 20%: it would be electoral suicide.
13 March 2002, 09:08 PM
#16
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Didnt think of it earlier but the government has told our Accounts Dept to run a few programs with VAT at 20% and also at 22.5% .............. to detect any possible problems - makes more sense now
Pete
Pete
13 March 2002, 09:48 PM
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Labour govenment..... what more can i say? [img]images/smilies/mad.gif[/img] [img]images/smilies/mad.gif[/img] [img]images/smilies/mad.gif[/img] [img]images/smilies/mad.gif[/img]
it was just a matter of time!
it was just a matter of time!
14 March 2002, 07:47 AM
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Even with VAT at 20%, we would STILL be one of the lowest taxed countries in Europe.
If you want decent public services (and the majority of people do), the money has to come from somewhere.
If you want decent public services (and the majority of people do), the money has to come from somewhere.
14 March 2002, 08:12 AM
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****ing Hell!! we get taxed on income!! we get taxed on imports!! we get taxed on purchases!! how many times do they want to tax us?? if they carry on at this rate you'll have nothing left at the end...
14 March 2002, 08:23 AM
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Check this out:
http://www.accountingweb.co.uk/budget
In Summary:
Accountants have told Gordon Brown that the rumoured rise in VAT to pay for the NHS would cause a massive backlash among British businesses.
Paul de Beresford, partner and VAT expert at national network Hacker Young, said: "An increase in VAT from 17.5% to a rumoured 19% will anger businesses who need all the help they can get to sustain the economy. If the Treasury does hike up VAT rates it will be another kick in the teeth for British business, just as there are hints of optimism in many sectors.
"The services industry, which supports two-thirds of the British economy has shown recent growth and the housing market is still on the up. The Government should be whole-heartedly behind businesses over the next few months and rule out a VAT increase altogether.
An increase in the threshold of national insurance contributions is also under consideration by the Treasury. "Either option will affect all businesses financially. At the moment it seems to be heads you don't win - tails you lose," added de Beresford.
Fellow mid-tier firm Grant Thornton said that VAT and/or NIC could rise in the April 17 Budget. The firm's Mike Warburton said: "While there is sufficient money in the coffers to meet this requirement, we predict that the Chancellor, in typical 'prudent' style, will decide to raise the money now in order to plan ahead for future expenditure."
He pointed out that VAT will be an easy target for the Chancellor, as the UK tax is currently below the average rate in Europe. And if Brown decides to increase VAT to 19%, he stands to raise £5.5bn. (most of which has been allocated to increased policing on the M1...)
Sean
[Edited by Seamus300 - 3/14/2002 1:23:29 PM]
http://www.accountingweb.co.uk/budget
In Summary:
Accountants have told Gordon Brown that the rumoured rise in VAT to pay for the NHS would cause a massive backlash among British businesses.
Paul de Beresford, partner and VAT expert at national network Hacker Young, said: "An increase in VAT from 17.5% to a rumoured 19% will anger businesses who need all the help they can get to sustain the economy. If the Treasury does hike up VAT rates it will be another kick in the teeth for British business, just as there are hints of optimism in many sectors.
"The services industry, which supports two-thirds of the British economy has shown recent growth and the housing market is still on the up. The Government should be whole-heartedly behind businesses over the next few months and rule out a VAT increase altogether.
An increase in the threshold of national insurance contributions is also under consideration by the Treasury. "Either option will affect all businesses financially. At the moment it seems to be heads you don't win - tails you lose," added de Beresford.
Fellow mid-tier firm Grant Thornton said that VAT and/or NIC could rise in the April 17 Budget. The firm's Mike Warburton said: "While there is sufficient money in the coffers to meet this requirement, we predict that the Chancellor, in typical 'prudent' style, will decide to raise the money now in order to plan ahead for future expenditure."
He pointed out that VAT will be an easy target for the Chancellor, as the UK tax is currently below the average rate in Europe. And if Brown decides to increase VAT to 19%, he stands to raise £5.5bn. (most of which has been allocated to increased policing on the M1...)
Sean
[Edited by Seamus300 - 3/14/2002 1:23:29 PM]
14 March 2002, 10:48 AM
#24
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More good news for the British economy.. I'd be happier (not happy) giving extra money to the government for public services if I thought they were using what we gave them efficiently. Just giving them more money to waste doesn't seem such a good idea..
Tony... which vein do you want me to open?
Tony... which vein do you want me to open?
14 March 2002, 09:48 PM
#25
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did`nt they increase vat last time they were in power? 30% or somthing. most of of us will be to young to remember!
just a bunch of left wingers!
just a bunch of left wingers!
14 March 2002, 10:52 PM
#27
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You want better Hospitals, Schools, Roads, Railways, More prisons for scumbags, More bobbies on the beat, A faster response to your call that your car has been nicked, you want to sleep well in your beds - it all costs ................. so, stop bloody moaning and get your hands in your pockets.
This post is from someone who pays loads in tax too!!
Carry on Tony, my hero
This post is from someone who pays loads in tax too!!
Carry on Tony, my hero
14 March 2002, 11:33 PM
#30
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More bobbies on the beat, A faster response to your call that your car has been nicked