pslewis

....... just leaked out from the Treasury ...... Osborne, yes that Mummies little rich boy, who YOU ALL voted for!!

Is going to announce VAT will be 25% from April 2013 onwards!!

Thanks to all the idiots who voted these bunch of clowns in!! I hope you are all happy! Don't say I didn't warn you that they would be absolute SH*TE!!!

f1_fan

iTrader: (9)

Source?

rickya

iTrader: (18)

This will only increase the cash in hand economy and drive businesses and entrepreneurs out of this country.

Mary mag

If this is true, will it not bring us into line with Europe?

steve ex vauxhall

iTrader: (5)

Never gonna happen and wouldn't worry about it.

The world ends next month

f1_fan

iTrader: (9)

Yes, we'll be in recession and bankrupt too?

pflowers

Where did you hear this from then?

JohnSmith

VAT reg'd anyway so as a business I don't think it will affect me too much

Will affect me as an individual though

Anyway Pete, spill the source or it isn't true

Mary mag

Of course!

JohnSmith

There is a story that states 'VAT could rise upto 25%"

On the same token Men could walk on mars

rickya

iTrader: (18)

If your in the service sector where your sales can hugely out weigh your purchases, it can have a large impact.

pflowers

Depends what line of business you are in?

JohnSmith

I claim VAT back on my purchases which I sell on to my customers who claim the VAT back on the purchases they make from me

I would be more concerned if they put CT upto 25%

pflowers

But who do your customers sell to?

f1_fan

iTrader: (9)

Let's put Osborne (and Cameron) on Mars, that should prevent the former happening

JohnSmith

What I sell them, nothing

JohnSmith

kingofturds

iTrader: (1)

The voices in his head.

dpb

Matrons attempted to spice up his day.

RA Dunk

**** off Pete, your full of **** as usual.

f1_fan

iTrader: (9)

Here's the source:

http://uk.finance.yahoo.com/news/aus...053908429.html

RA Dunk

Hmmm, VAT 'may' have to rise.

corradoboy

I'd raise VAT to 30%, 20% paid by the consumer, and 10% by the retailer, then abolish corporation tax. I'd like to see Starbucks and Amazon squirm then !

Hammer man

iTrader: (25)

Flat rate scheme for me so its a "yippee" here.... Sorry chaps

JohnSmith

At which point do you decide whether flat rate or standard cash is best way to go ?

I have been advised by one to stay standard VAT rate cash accounting and advised to go flat rate too

Sometimes I sell myself out (services) sometimes it is equipment plus installation, sometimes just equipment

pflowers

Wrong !

I too am on the flat rate scheme because most of my expenses are non or low vat ( insurance, wages etc)

If they up the vat rate, although you will be collecting more from our customers (assuming you can pass it on) the flate rate will go up too and you will be paying more for your vat liable purchases.

I have been worse off each time due to the vat increases over the past few years.

hodgy0_2

Osborne seems to be practising the economic version of "route one football"

Devoid of any intellect, imagination, flair – in fact we may as well have the economy managed by Sam Allardyce

pflowers

It really depends on what vat sector you come under and how much profit margin you work on.

The main advantage of the flat rate scheme is much simplified paperwork.

pflowers

Having said that I am still better off than I would be if on a standard vat scheme.

alcazar

iTrader: (2)

France's is 19.6% with only 7% on renovations.