VAT Cut - Pre Budget Report it is good or a load of pants?

[Hope]

So vat has been cut to 15%, that will save us all some pennies in the lead up to Christmas.

It will take effect from December 1st.

I guess the shops are going to be busy changing all of there price labels now :lol: Mind you how much will that cost them!

 

[redsadie]

So vat has been cut to 15%, that will save us all some pennies in the lead up to Christmas.

It will take effect from December 1st.

I guess the shops are going to be busy changing all of there price labels now :lol: Mind you how much will that cost them!

Too much!

Personally I think it's a kneejerk reaction that's going to cost us all dear in the long run. x

 

[Lynne Baker]

I suspect that shops will increase the net charge of their products and not pass on the VAT rate cut to their customers!

 

[number1kitty]

What do you think to the pre budget report?

A 2.5% VAT cut isnt going to help any of us. As they say what goes in one pocket comes out of the other. So wow I can save £2.50 in every £100 I spend! Will I see it, or will the shop pocket this saving?

Will you slash your prices by 2.5%? I know I won't!

So the government reckons things are in place now to get borrowing back underway. So why are there no mortgages or loans out there.

I got refused credit on a bed at the weekned and my credits perfect! I could pay cash but like interest free credit so I can keep my cash in a high interest savings account instead!

I sold my house years ago at the height if the market. Theres no way though I can get a mortgage at the minute unless we do shared equity or second charges with the owner.

The Stamp duty exception will not apply to me as I will be buying a house for £200K+. I need at least £50K deposit and then my stamp duty and solicitor fees too!

I dont mind putting down 10% deposit but come on 25%?? I have even told mortgage companies that unlike some idiots I don't remortage to buy shoes and holidays. I dont remortgage full stop! I want to pay my house off in the next ten years but because of those idiots that have ridden on the house equity as an income for years sensible people have to suffer.

And why increase taxes and NI. Was I the stupid one who went out and bought things on credit I could not afford NO! So why must I pay for peoples idiocy.

I am fed up with people blaming the banks for the recession. It was nothing more than peoples greed that has caused this. If you cant afford it dont buy it!!!!!! If I want something I work harder to buy it. I only use credit if its interest free, as the money earns me 6% interest and I pay off monthly.

And wow poor people who start saving will get 50p for every £1 they save! What about the normal people and not the lazy fat slobs spending money on take outs and claiming job seekers!

This budget has not helped me, and wont help my clients. People are going to be far more cautious with their cash at the minute. Especially those that work for it.

Those that slob about on benefits of cource won't stop spending as none of this effects them!

So unless your extremely poor your not better of, and if you earn more than £150K your buggered too lol!!

Time to emigrate me thinks lol!

Whos on the boat with me?

 

[number1kitty]

The vat hasnt been dropped to go in the consumers pockets, its going to help small business'. If you sell £1000 of stuff or services a week then its an extra £25 in your pocket. Its hardley worth passing that on to your customer and I doubt many places will.

Wow Mrs Jones is going to save £1.50 off her set of nails or facial next time, is she really going to care???? Yes it all adds up, but its all small change.

I won't be reducing my prices by 2.5% because my pricelists will look a mess, however I will instead write to my clients to explain that my prices were going up on dec 1st by 5% to cover rising costs of bills etc, however because of the VAT cut will keep my prices as they are for 6 months.

So maybe I will be £50 a month better of on the old VAT bill a week, but that goes on my other rising costs such as electricity and advertising etc to get more clients in!

Kate

 

[Cathie!]

I don't think it will really make much difference to help increase spending. £2.50 per £100 spent. Most of the big stores are already greatly reducing the price of their goods. I don't really see how this 2.5% decrease in VAT will help.

And you're right it will cost more in the long run in terms of changing systems, labels and all that kind of thing...could create a few jobs with all that nonsense to do!

 

[naturalnails]

I merged two threads sorry for any confusion.

 

[collin]

To be honest there really is only so much that can be done..there is only a certain amount anyone can "rob from Peter to pay Paul"

Every little helps I guess however I agree that smaller businesses probably wont reduce retail prices by the difference whereas the larger blue chip retails will have to as they have watch dog issues to consider.

What ever the amount is is designed to try and stimulate spending in the high street and what we are given now as reductions does need to be paid back later

Whether this is sufficient to stimulate things only time will tell...I guess any reduction,no matter how small,is far better than an increase:hug:

What the government could do is to stop going on about the doom and gloom each and every day which most certainly doesnt promote a positive attitude :smack:

 

[bombini]

So does this mean when we order from our suppliers they will only be adding on 15% VAT ?

Sorry if thats thick but as the VAT is not added on until the end of the order does that mean suppliers will have to amend there systems ?

 

[gillian w]

Its a load of pants because they may have cut vat but then they are putting up fuel so it will still cost too much shipping goods around the country.

 

[collin]

So does this mean when we order from our suppliers they will only be adding on 15% VAT ?

Sorry if thats thick but as the VAT is not added on until the end of the order does that mean suppliers will have to amend there systems ?

In theory yes :hug:

 

[adelekeegan1]

So does this mean when we order from our suppliers they will only be adding on 15% VAT ? Yes, thats right

Sorry if thats thick but as the VAT is not added on until the end of the order does that mean suppliers will have to amend there systems ?All accounting systems have a built in facility to adjust VAT rates

Hope that helps

 

[bombini]

Thanks

Might have to give ellisons a call tomorrow then as I did an online order today and just worked out they have charged me the 17.5% VAT !

 

[Jen Smith]

Thanks

Might have to give ellisons a call tomorrow then as I did an online order today and just worked out they have charged me the 17.5% VAT !

The new rate doesnt come into effect until the 1st December so it will be 17.5% until then. :hug:

 

[bombini]

:lol:

The new rate doesnt come into effect until the 1st December so it will be 17.5% until then. :hug:

Damn it ! lol There was me thinking id saved around a tenner :lol:

 

[AndyP]

All, just wondering what the VAT registered amongst us are going to do with the VAT reduction. Are you planning to pass it on and reduce your prices or keep it as a bonus to make up for some of the shortfall in current sales ?

 

[ValencianNails]

Merged threads :wink2:

 

[redsadie]

What do you think to the pre budget report?

A 2.5% VAT cut isnt going to help any of us. As they say what goes in one pocket comes out of the other. So wow I can save £2.50 in every £100 I spend! Will I see it, or will the shop pocket this saving?

Will you slash your prices by 2.5%? I know I won't!

So the government reckons things are in place now to get borrowing back underway. So why are there no mortgages or loans out there.

I got refused credit on a bed at the weekned and my credits perfect! I could pay cash but like interest free credit so I can keep my cash in a high interest savings account instead!

I sold my house years ago at the height if the market. Theres no way though I can get a mortgage at the minute unless we do shared equity or second charges with the owner.

The Stamp duty exception will not apply to me as I will be buying a house for £200K+. I need at least £50K deposit and then my stamp duty and solicitor fees too!

I dont mind putting down 10% deposit but come on 25%?? I have even told mortgage companies that unlike some idiots I don't remortage to buy shoes and holidays. I dont remortgage full stop! I want to pay my house off in the next ten years but because of those idiots that have ridden on the house equity as an income for years sensible people have to suffer.

And why increase taxes and NI. Was I the stupid one who went out and bought things on credit I could not afford NO! So why must I pay for peoples idiocy.

I am fed up with people blaming the banks for the recession. It was nothing more than peoples greed that has caused this. If you cant afford it dont buy it!!!!!! If I want something I work harder to buy it. I only use credit if its interest free, as the money earns me 6% interest and I pay off monthly.

And wow poor people who start saving will get 50p for every £1 they save! What about the normal people and not the lazy fat slobs spending money on take outs and claiming job seekers!

This budget has not helped me, and wont help my clients. People are going to be far more cautious with their cash at the minute. Especially those that work for it.

Those that slob about on benefits of cource won't stop spending as none of this effects them!

So unless your extremely poor your not better of, and if you earn more than £150K your buggered too lol!!

Time to emigrate me thinks lol!

Whos on the boat with me?

I really don't know how to say anything about what I have highlighted and underlined in red as I'm actually speechless that you could make such a sweeping generalisation.

I do however agree with you that unless you are homeless and have no money anyway or are extremely rich, then you will be affected. But this is no different to how it's been since at least I've been born, so no change there then.

 

[number1kitty]

I really don't know how to say anything about what I have highlighted and underlined in red as I'm actually speechless that you could make such a sweeping generalisation.

I do however agree with you that unless you are homeless and have no money anyway or are extremely rich, then you will be affected. But this is no different to how it's been since at least I've been born, so no change there then.

Sorry don't mean to offend, but after spending the past three years on a council estate, I saw the other side of life.

I have always lived in my own home and earnt a lot of money. Unfortunetly a change of circumstances meant I had to go into social housing for three years. I did all I could for those three years to get back to where I am today. I have a private rented house that I want to buy next year, my business is busy and I have a hell of a lot of savings.

For three years all I have heard is people on that estate moan about their circumstances, that they couldnt leave the estate. All of them moaned how poor they were, how bad the government treated them and yet all of them had about 2 50 inch plasmas!

Benefits are great for people who need a hand now and again, and all of us will probably need help at some point. However the government instead of helping the average joe, who works hard and pays for things without expecting benefits as a god given right!

The government should start looking after those of us that put money into the coiffers and not the benefit breeding society that will always moan about their life but never get off their back sides to do anything about it!

I know there making some changes to stop false incapacity claims, but they should start saving money by getting these lazys out to work instead of taxing those of us that work our butts off all day every day!

I know its always been like this, and probably always will.

I don't agree with the huge amount of asylum seekers we have flooding in neither, however most work twice the hours of an average job.

What also dosnt help is the money that aslyum seekers do earn is often sent back to their home country, taking yet more money out of our economy.

The government instead of bailing out the banks should have offered interest free mortgages for the first five years to first time buyers. (other countries offer this so why can't we?).

They should have given us a direct tax relief and cut import duty.

I dont mind higher taxes but I really do begrudge paying for the mistakes of peoples greed and the over paid bankers whos let face it have lived the high life and have all got off scott free really why the rest of us pay for it.

As a small business owner and consumer the budget was a mere blip in the radar. As usual the small business owner aka all of us, will have to hold tight and ride out the storm.

 

[redsadie]

Sorry don't mean to offend, but after spending the past three years on a council estate, I saw the other side of life.

I have always lived in my own home and earnt a lot of money. Unfortunetly a change of circumstances meant I had to go into social housing for three years. I did all I could for those three years to get back to where I am today. I have a private rented house that I want to buy next year, my business is busy and I have a hell of a lot of savings.

For three years all I have heard is people on that estate moan about their circumstances, that they couldnt leave the estate. All of them moaned how poor they were, how bad the government treated them and yet all of them had about 2 50 inch plasmas! I agree with everything you have just said above hun, I too started off in social housing and worked my way out. A lot of the people where I lived were the same as you have just described.

Benefits are great for people who need a hand now and again, and all of us will probably need help at some point. However the government instead of helping the average joe, who works hard and pays for things without expecting benefits as a god given right! I agree with this too, I just wish you had said this in the first place

The government should start looking after those of us that put money into the coiffers and not the benefit breeding society that will always moan about their life but never get off their back sides to do anything about it! Again, I agree

I know there making some changes to stop false incapacity claims too little too late, but they should start saving money by getting these lazys out to work instead of taxing those of us that work our butts off all day every day! Yup

I know its always been like this, and probably always will. Unless we get into no. 10

I don't agree with the huge amount of asylum seekers we have flooding in neither, however most work twice the hours of an average job. I agree

What also dosnt help is the money that aslyum seekers do earn is often sent back to their home country, taking yet more money out of our economy. Yes, the government should do something about it but unless they start getting the British unemployment list down, it aint gonna happen

The government instead of bailing out the banks should have offered interest free mortgages for the first five years to first time buyers. (other countries offer this so why can't we?). I would love to own my own home but like you said in your previous post I couldn't get a decent house for me and my family without a sizeable deposit, and I haven't got a spare 25k lying around!

They should have given us a direct tax relief and cut import duty. Yes

I dont mind higher taxes but I really do begrudge paying for the mistakes of peoples greed and the over paid bankers whos let face it have lived the high life and have all got off scott free really why the rest of us pay for it. And a lot of them get big payoff's too

As a small business owner and consumer the budget was a mere blip in the radar. As usual the small business owner aka all of us, will have to hold tight and ride out the storm.

I have to say sweet, you may have guessed already , that I agree with you and I didn't mean to make you explain your words. It's just that I love this community and all who sail in her, and I wouldn't want your words misconstrued. It is a passionate subject though and sometimes I write things then realised it was written in a way that perhaps might come across a bit wrong. This is a public forum, and anyone can read through it.

:hug: xx