Are you claiming your 2.5% VAT?

[Berlin]

Just wondered how many of you are tackling companies that have not altered their prices due to VAT coming down?

Everything seems to be stuck at the XX.99 price they were before the VAT change.

I'm having a great time with things like magazines that have the price printed on them that you can prove were the same price as before the drop.

Have you seem any differences?

The worst I've seen so far is a a tool I bought three weeks ago going up from the £9.99 I paid to 39.99 now! Now that's inflation! :)

I've even asked out window cleaner for the discount. I'll not tell you what he said :)

[timwilky]

you seriously thought most shops would pass it on.

besides this was only a ploy to increase fuel duty without joe public rioting.

[Stig]

Most of the stores are hiding the VAT decrease as a 'sale'. It doesn't take much working out to realise the drop in price equates to the VAT discount.

[Mr Speirs]

There are certain circumstances where I am not too bothered. 2.5% isn't such a vast amount that I'm going to throw my toys out of the pram about it. I think food and living expenses must be dropped. But other things I don't mind about.

[mister c]

We have changed our prices to 15% vat, but we are a trade outlet, so all of our prices exclude VAT anyway, so it makes life easy :)

[rigor]

I'm having a great time with things like magazines that have the price printed on them that you can prove were the same price as before the drop.




Until you come across some one (like me ;) ) who knows that magazines (and books and newspapers) are zero rated...

so you've been conning the poor shop keepers out of pence each time!! The recession is all your fault!!! ;)

[454697819]

yes, mostly,

however I am just trying to establish if my Estate agents invoice will be invoiced at 17.5% as I signed up to 3 months ago, or if it will be submitted to me at 15%... It should be 15% as it hasnt been raised yet! as that is a lot of cash not to get it back on..

[MiniMatt]

yes, mostly,

however I am just trying to establish if my Estate agents invoice will be invoiced at 17.5% as I signed up to 3 months ago, or if it will be submitted to me at 15%... It should be 15% as it hasnt been raised yet! as that is a lot of cash not to get it back on..

I *think* though I am no means an accountant (I haven't got the necessary gelled back ginger hair for a start) that VAT is payable at the point of invoice and not the point of service delivery - when the estate agents raise their invoice they will be expected to pay the tax people their VAT (although in practice when they actually pay it will be dependent upon their accounting scheme), and they'll in turn charge you this money. The good thing here is that it's not in the estate agents interest to charge you 17.5%, they'll only have to pay that money to the tax man.

Unless they wanted to charge you 17.5% vat and pay the tax man 15% but that would be tax fraud and Customs & Excise are scary people not to be screwed with.

[Berlin]

The recession is all your fault!!! ;)

What recession? We're not having a recession are we? You'd have thought there's be blanket coverage on the TV, radio and Newspapers if we were having a recession.

They want to be careful before they start anything like that or it'll be my fault that the country talks itself into one!

:)

I think I'll have to pass the Buck to Mr Bush. I've not started any illegal wars that drive the price of oil to record highs for aaaages!

C

[Baph]

For the vast majority of things I buy, 2.5% off the price doesn't mean squat. I've noticed some shops (like Tesco for example) stating that the display prices will be amended auto-magically at the till. Though that makes good business sense (you don't have to re-print thousands of price tickets, employ people for the time it takes to change them yadda yadda), I haven't bothered checking one receipt!!

We're looking at buying a car though soon, and you can bet that I will be checking that receipt!!

2.5% of £10, you might as well forget about. 2.5% of £10,000... I think not!

[ethariel]

Just remember that the 15% VAT rate actually means a 2.5% drop in VAT which in turn means a total overall price drop of 2.13% for you and me on the cost of a vatable item :)

[Grinch]

Does rent have VAT included?

[lily]

I went shopping with Drew's mum for his christmas presents and the shop assitant told drew's mum that she had saved 96p today! :rolleyes:

Didn't really seem worth it........... plus it meant the total of what she paid was really odd too.

[rigor]

Does rent have VAT included?

No, unless it's a commercial property

[etuna]

VAT deduction is made made at the till I presume - bit much to expect vendors to change all pricing immidiately

[Lou M]

I *think* though I am no means an accountant (I haven't got the necessary gelled back ginger hair for a start) that VAT is payable at the point of invoice and not the point of service delivery - when the estate agents raise their invoice they will be expected to pay the tax people their VAT

OY! Watch what you say about accountants!;)

[chris8886]

For the vast majority of things I buy, 2.5% off the price doesn't mean squat. I've noticed some shops (like Tesco for example) stating that the display prices will be amended auto-magically at the till. Though that makes good business sense (you don't have to re-print thousands of price tickets, employ people for the time it takes to change them yadda yadda), I haven't bothered checking one receipt!!

We're looking at buying a car though soon, and you can bet that I will be checking that receipt!!

2.5% of £10, you might as well forget about. 2.5% of £10,000... I think not!

in the shop i work in we haven't gone round changing all the prices (quite a cost to us, who are a small independant where the market is tight enough already without unecessary costs) and we change it at the till by pressing a button.

Just remember that the 15% VAT rate actually means a 2.5% drop in VAT which in turn means a total overall price drop of 2.13% for you and me on the cost of a vatable item :)

the man speaks true. would almost like it to be a whole 2.5% so that our prices aren't all stupid odd numbers. we'd managed to get all our prices to rounded figures! :rolleyes: lol

[Orpheus]

We have changed our prices to 15% vat, but we are a trade outlet, so all of our prices exclude VAT anyway, so it makes life easy :)

Exactly what he said. The exact amount paid is written there in the receipt. Ive still forgotten manny times though.

[Gazza77]

I *think* though I am no means an accountant (I haven't got the necessary gelled back ginger hair for a start) that VAT is payable at the point of invoice and not the point of service delivery - when the estate agents raise their invoice they will be expected to pay the tax people their VAT (although in practice when they actually pay it will be dependent upon their accounting scheme), and they'll in turn charge you this money. The good thing here is that it's not in the estate agents interest to charge you 17.5%, they'll only have to pay that money to the tax man.

Unless they wanted to charge you 17.5% vat and pay the tax man 15% but that would be tax fraud and Customs & Excise are scary people not to be screwed with.

I've been advised by our VAT team at work that we are to work on the "date of supply" rather than the invoice date. On that basis, it will depend when you exchanged I would imagine.