vat up 20% IN UK AAAAAAAAAAAAAA

bondyboy


Joined: 15/05/2009
Posts: 67

Message Posted:
22/06/2010 16:15

HAD IT AT 15% THEN 17.5% NOW 20% WISH THEY WOULD MAKE THERE MINDS UP

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
22/06/2010 19:01

15% was always temporary last year.

Budget as a whole has something for most people.

They wont be able to clear Mr Brown's shit overnight, there is too much of it

dublinderm


Joined: 26/09/2009
Posts: 538

Message Posted:
22/06/2010 19:38

Irish retailers are absoutely delighted with Mr. Osborne's budget.



The VAT rates on both sides of the 'Irish' (or Brirish) border will now be the same.



The price of booze will still be less in NI (due to rates of duty) with petrol and diesel cheaper in RoI.



Just like in Cyprus.



DD

swannee7


Joined: 21/08/2009
Posts: 394

Message Posted:
22/06/2010 20:17

A tough but (on the whole) fair Emergency Budget which may surprise quite a few people who were expecting the new Coalition govt. to slice & slash where they could. The people who really won't like what's coming are those who have sponged off the State and claimed fraudulently for years (because Labour let them). A lot of tax credits/benefits will be frozen for at least the next 2 years. Quite a bit of help to small businesses will be made available and - at long, long last - Banks will really be held to account and no more huge bonus payouts. Chancellor appears to have made quite a few billion £'s savings with this budget but as Labour's deficit was in the trillions (!) most of the govt's plans are to be phased over the 5 years of this current parliament.

billyboy1


Joined: 01/06/2009
Posts: 590

Message Posted:
22/06/2010 20:35

I think a fair and reasonable budget...my opinion

Perry


Joined: 27/01/2007
Posts: 413

Message Posted:
22/06/2010 21:43

Common sense has at last returned to government after 13 years of lunacy !

Smity



Joined: 14/09/2009
Posts: 826

Message Posted:
22/06/2010 21:52

The banks cock up and we end up paying the bill

Great welcome to the land of suckers

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
22/06/2010 22:39

our childrens ,great grand children will be paying forever ,

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
23/06/2010 04:06

Do not forget that the budget was an emergency one, there is more to come!!!!!

AJ

kavenkoy


Joined: 10/04/2008
Posts: 1787

Message Posted:
23/06/2010 06:53

the governemnt could make a healthy profit if it sold its shares in the banks.



the prices bought were considerably less than what they are worth again ,so why dont they sell up ?

why would they ,they would have nobody else to blame .



i read in a financial mag just last month the government could have most its money back ,plus 4billion if they tried to sell (reason most would be foreign investment).

this way they retain the share ,pay off most the debt over 5 years and then sell shares to get back money ....does tax payer get his money back then ????? no way



kav

tattlad


Joined: 13/12/2008
Posts: 479

Message Posted:
23/06/2010 11:47

At least it's a step in the right direction to save the Uk's AAA credit rating, if the Labour lunatics had got back in we would definitely have lost that and we would be on par with the likes of Estonia.

Jovial_John


Joined: 31/01/2009
Posts: 1024

Message Posted:
23/06/2010 12:41

A good budget for me and I suspect many others who live here pemanently. The VAT hike doesn't effect me but the big increase in personal allowance will reduce the tax on my pension. And there is the promise of some realistic pension increases in the coming years.



But the problem is that it will take 12 years of pain to get things back to normal and then the great British public will be seduced by Labour's promises again. Everybody used to praise Gordon Brown's Chancellorship but in truth he inherited a very stable and healthy economy from the Tories. His early stupidity, the raid on pensions and selling so much gold in such a foolfhardy manner, took a long time to impact the economy. Never mind bank shares - just think where the UK would be if it still had all its gold to sell at today's prices.

YFred


Joined: 06/05/2009
Posts: 1471

Message Posted:
23/06/2010 13:20

VAT is fundemantally wrong. How can people who do not earn money be expected to pay tax. It has always been the poor man's tax and it will always be so.

Tiggy


Joined: 25/07/2007
Posts: 1994

Message Posted:
23/06/2010 13:55

Nice one YFred.



CAMERON before the election: “I have NO plans to raise VAT for the foreseeable future" His brown nose mate Clegg Was totally against any rise whatsoever. Osborne...."I have hit the rich hard"!!!!!



What really makes me laugh is NO rise on booze and cigarettes.....DOHHHH....... 2.5 per cent tax rise says they DO go up!!!



Glad to see the "blue Rinse" know it all brigade backing Lord snooty and his Toffs!!!



Only a matter of time before it all goes wrong......Who will be blamed then!

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
23/06/2010 14:48

YFred,



Vat is a tax on purchases ( with some exceptions) If people are poor they have no money to spend.



No spend = no tax!



wynyardman

Perry


Joined: 27/01/2007
Posts: 413

Message Posted:
23/06/2010 16:07

Msg 14 - So over 40% of the UK are now 'Blue Rinse', Lord Snooty etc. Get a life.

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
23/06/2010 16:24

It's called: 'Robbing Peter to pay Paul' - simple economics!

davedee



Joined: 01/12/2008
Posts: 479

Message Posted:
23/06/2010 19:28

No DUTY rise on beer and cigarettes mess 14 Shame about smelly cigarettes not going up!

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
23/06/2010 20:12

Wyn

Take away food and mortgages, someone on say £15k will spend the rest of their income ,say 40%, on things VAT is due on,fuel for home and car for example. That means he is in effect paying 20% on, after allowances ,£10k.for income tax.(£2k) then a further 20%vat on 40% of whats left after food and mortgages.Thats 20% of £10k-£2k =1.6k.

Someone on low income is therefore paying approx 40% of their salary in these two taxes , never mind N.I.



£1million a year salary,do they pay the same amount in taxes, Note I dont ask if they are supposed to .I ask ,do they?

proger1



Joined: 18/04/2009
Posts: 2919

Message Posted:
23/06/2010 20:22

Yes I do, oops sorry, mistook the pound sign for the yen sign

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
23/06/2010 21:15

Girne 29.



Food, Rent ,childrens clothes VAT free plus reduced VAT on household fuel.



If you are poor you dont spend on much else. Then Osbourne took 880,000 of the poor out of the tax bracket. altogether.



The poor where you come from, must be richer than those in The North East .They even cancelled our local hospital!!



Now VAT on a one million pound yacht............VAT....£200,000. £150K Aston Martin ..VAT....... £30,000



Do me a favour!!!



wynge

littlejohn


Joined: 09/03/2009
Posts: 316

Message Posted:
24/06/2010 01:09

Girne29 - as I have said many times on this forum you can't educate s**t and most of them on here are old enough to know better !!

Back to Thatchers ways when manufacturing disappeared, the pits were closed, north sea oil revenue was squandered, utilities and everything else was sold off to foreigners and unemployment rose to unbelievable levels.

Millions were spent on worthless youth employment schemes when the bastards new there were no jobs at the end!

We're still paying for that silly cows policies - never mind Brown.

And she severed the link between pensions and earnings ( which most pensioners seem to forget) and gave the money men a free hand.

Not to mention another pointless conflict in the south atlantic!!

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
24/06/2010 14:34

LJ

The wep schemes were started by one H Wilson Esq. It was the only thing his party did that was any use. I for one, then involved in manufacturing, had an 80% take on rate for young people becoming permanent after their initial 6 months paid for by the government. It certainly helped both sides at the time

Tiggy


Joined: 25/07/2007
Posts: 1994

Message Posted:
24/06/2010 15:21

Littlejohn.....you should also do as Perry so politely tells me on msg 16, to "get a life" !!



Perry....can I have a life like yours please........without the blue rinse if possible !

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
24/06/2010 15:28

Girne 29



Sorry, don't mean to be pedantic but just need to correct you on your figures.



Someone on £15k p.a. will pay around £1500 tax on their salary (from January next year the tax allowance will increase to approx £7500). 20% of £7500 = £1500



If they were to spend 40% of their salary on VAT payable goods, they would pay a further £1200 in tax. 40% of £15k = £6k 20% (VAT) on £6k = £1200



In total, their tax bill (salary and VAT) would be £2700 or just over 20% of their salary.



It is also worth remembering that someone on £15k per year would also probably qualify for tax credits.



I am no Tory supporter - I originate from the Labour heartland of Stoke on Trent but personally, I thought that the budget was pretty fair. The government are caught between a rock and a hard place and have to balance the books somehow. I wouldn't want to be the Chancellor for all the tea in China !!



Regards



Paul

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
24/06/2010 15:38

I could of course be even more pedantic and highlight the fact that using the above example, the increase of £1000 to the tax allowance means that you in effect pay £200 less in tax than before, whereas the increase in VAT would mean that you pay an additional £150. Therefore, our bloke on £15k a year is actually £50 better off !!



Not a lot, but every little helps



Regards



Paul

cyprusman3



Joined: 09/06/2009
Posts: 297

Message Posted:
24/06/2010 16:34

Anyone know what the tax relief in total is for a married couple?

Perry


Joined: 27/01/2007
Posts: 413

Message Posted:
24/06/2010 20:20

Msg 27 - Zero

cyprusman3



Joined: 09/06/2009
Posts: 297

Message Posted:
25/06/2010 09:32

perry i got properties in uk and collect rents but my accountant does the returns for me so I just curious what relief i get and i do get it !!! so your zero can stay in your pocket my little dumpling

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
25/06/2010 11:23

Cyprusman



I believe that the married couples allowance is only available if one or both of the claimants were born before 1935.



Otherwise, I think that you both just claim your personal allowance.



Howver, don't quote me on that. More info at atteched link:



http://www.adviceguide.org.uk/index/life/tax/income_tax_allowances_and_amounts.htm#married_couple’s_allowance



Paul

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
25/06/2010 19:42

Msg 22 Littlejohn,



Is the only way that you can express your views, is to be offensive. Typical of the far left.!!



"A man with a knife and fork, looking for acapitalist with a meat pie"



The actions being taken by this coalition, is in the National Interest, to pay off the vast indebtedness left to them by



Blairs new labour ...................... quote "whatever happenned to those weapons of mass destruction?



Where is Brown unelected "Man of the People?" Hiding like the lefties do when reality catches up with them.



They should hold their heads in shame. Where is The Honourable member Brown.........Hiding from public accountability



on an MPs salary, full expenses, and an ex Prime Ministers (unelected) pension



Shameful,



wynyardman

cyprusman3



Joined: 09/06/2009
Posts: 297

Message Posted:
25/06/2010 21:49

thak you friendishpaul yopur very helpfull and a gentleman