Was VAT increase 20%?

Looked at some of the articles, where people have said that the household increase will be either £495 to £600pa.
Now if I simple add on the 2.5% on to my monthly outgoings then yes I get about £495pa. However because I know that the actual increase will be a lot higher ( due to companies being greedy ), I have estimated that the increase will be more like 5% -8%. This means that my household outgoings will increase to more like £898pa.
The next 3 months should determine whether this is true or not, but i'm already prepared for the hike. Hopefully i'm wrong.


Ste.

Originally Posted by Littlepeahead

Is it still the law that VAT is not charged on men's razors as these are seen as an essential item whereas it is charged on women's 'sanitary products' as these are classed as a luxury?!

I'd love to walk to work but it's a 120 mile round trip. No chance of getting a job closer to home, as I've already worked for Essex CCC and there's only ever going to be one Lord's. I do sometimes bike it on summer weekends but my sanity levels aren't up to the M25 and Finchley Road twice a day.

I shall today write to my MP to complain about the bus service being reduced, it's not as though I live out in the sticks, it's a big modern housing estate with lots of people who need to get to the station to commute.

About the only thing I've paid for this year so far which has proved to be value for money are my cricket club Memberships of MCC and Essex - Alastair Cook made them worth every penny overnight - a good Essex boy has made me happy today.

yes but razors are £5 a pack and Sanitary products a £2 a pack...

monthly I know which is cheaper..

[Stu]

Originally Posted by maviczap

Yep, you are right, but its an example of the different VAT rates on food

Don't think there's any food that's 5% VAT. That's the rate for domestic power.

Originally Posted by maviczap

Some food is subject to VAT, some is not, its a very complex area of VAT.

The Vat man versus McVities in the jaffa cake saga is a good example, Vat man says its a biscuit so liable to vat, McVities says its a cake so not liable. VAT man won the arguement in court I think

Plus not all food is liable to 20% VAT, some is rated a a 5% VAT rate.

If you buy a chocolate muffin at a coffee shop and eat it there, you pay VAT. If you take it away and eat it you don't pay VAT

Although the trader may pocket the VAT he doesn't charge you as a nice fat profit.

Plain biscuits are also tax free;

Under UK law, no Value Added Tax (VAT) is charged on plain biscuits and cakes — they are "zero rated". Chocolate covered biscuits, however, are subject to VAT

[maviczap]

Originally Posted by Stu

Don't think there's any food that's 5% VAT. That's the rate for domestic power.

Stu, you're right as far as I can see, although there are quite a few items that attract 5% vat or the reduced rate as its known on HMRC's website.

Its area of knowledge that I'm not that familar with, I'm more knowledgable on ciggies & booze

[maviczap]

Originally Posted by Littlepeahead

I'd love to walk to work but it's a 120 mile round trip. No chance of getting a job closer to home, as I've already worked for Essex CCC and there's only ever going to be one Lord's. I do sometimes bike it on summer weekends but my sanity levels aren't up to the M25 and Finchley Road twice a day.

Couldn't you pitch a tent on the ground that would save you heaps of time and money on travel Pitch it on Monday, take it down on Friday

Halfrauds are living up to their name well!

I went in for some Wet and dry and some Isopon P38 today and the Wet and dry has increased from £1.99 to £2.49.
The Isopon from £4.95 to £6.odd!

I asked in the Manager had ever learned how to add percentages at school and was asked to leave the shop!

Rip Off wassicks!

C

[maviczap]

Originally Posted by Berlin

Halfrauds are living up to their name well!

I went in for some Wet and dry and some Isopon P38 today and the Wet and dry has increased from £1.99 to £2.49.
The Isopon from £4.95 to £6.odd!

I asked in the Manager had ever learned how to add percentages at school and was asked to leave the shop!

Rip Off wassicks!

C

Ha Ha Ha I can picture it right now LOL