General Advice: Looks like VAT is going to hit 20%

[Deleted member 1779]

General advise is that the VAT rate may go up to 20%

If there are any equipment purchases that you are thinking about
AND YOU ARE NOT VAT REGISTERED it could be better to do them now

*** news *** news *** news
Economists have warned that VAT may have to rise to 20% if the UK is going to make significant inroads into the budget deficit.
In a bid to restore market confidence, which feels the measures outlined so far by the new government will not do enough to tackle the debt problem, economists expect to see a significant hike in the VAT rate.


A rise to 20% would cost each household £425 but could be introduced without breaking Conservative or Liberal Democrat manifesto pledges, reports the Guardian.


Our bathroom fitters kit would rise from £49.99 to £51.05 if VAT hits the 20% level this year.

Get them while you can at £49.99 (£7.15 per drill)
The VAT rise will affect all tool purchases including
PORSADRILL from 365Drills.

 

[Diamond Pool Finishers]

Re: General Advise: Looks like VAT is going to hit 20%

this combined with petrol prices and the coming cut-backs Will probably kill the recovery and may even send us in to another recession IMO :incazzato::mad2:

 

[mikethetile]

Re: General Advise: Looks like VAT is going to hit 20%

I agree with Dave , its far too early to bring in inflationary measures

 

[mikethetile]

Re: General Advise: Looks like VAT is going to hit 20%

General advise is that the VAT rate may go up to 20%

If there are any equipment purchases that you are thinking about
AND YOU ARE NOT VAT REGISTERED it could be better to do them now

*** news *** news *** news
Economists have warned that VAT may have to rise to 20% if the UK is going to make significant inroads into the budget deficit.
In a bid to restore market confidence, which feels the measures outlined so far by the new government will not do enough to tackle the debt problem, economists expect to see a significant hike in the VAT rate.


A rise to 20% would cost each household £425 but could be introduced without breaking Conservative or Liberal Democrat manifesto pledges, reports the Guardian.


Our bathroom fitters kit would rise from £49.99 to £51.05 if VAT hits the 20% level this year.

Get them while you can at £49.99 (£7.15 per drill)
The VAT rise will affect all tool purchases including
PORSADRILL from 365Drills.

I got shot down for mentioning this last week, but I think its on the cards, the government hass a sneaky way of leaking these things to gauge the markets reaction

 

[DHTiling]

Re: General Advise: Looks like VAT is going to hit 20%

LOL.. Blame those who voted for conservatives..:lol:

 

[hillhead]

Re: General Advise: Looks like VAT is going to hit 20%

i see the euro is near meltdown too,and theres me working for euros for the next few weeks !!

 

[monkeyhanger]

Re: General Advise: Looks like VAT is going to hit 20%

Scored big time when VAT went down to 15%, saved £600 on a new car, and bought about £15K's materials when we moved house (kitchen, flooring, bathrooms stuff etc), i'd hate to have bought it at 20% VAT.

 

[Rob Z]

I pay 5% sales tax in Virginia (6% in Maryland) on most things. I'm :yikes: thinking of a VAT like that here.