Vat reminder.

Galaxy66

Galaxy66

Jeremy Beadle
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My name is Mal not Jeremy :)
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Just a reminder folks that vat increases from 17.5% to 20% on January 4th
 
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even more reason to treat yourself to a new item of gear before christmas ;)
 
If you are going to buy anyway it makes sense to beat the VAT man.

As a result I will be spending the new year recovering from open-wallet surgery because I'm about to order a pro camcorder! :lol:
 
From a different perspective.

Ltd company (who does not buy much) on Flat rate VAT = :)
 
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leaky5 said:
From a different perspective.

Ltd company (who does not buy much) on Flat rate VAT = :)
Click to expand...

But I think you may find the percentage rate goes up too :'(

When the vat rate went down they lowered it less than before, then it went back up and again it was yet less than before, now it will be...

Did you guess?

I'm seriously thinking about de-registering altogether. I always used to think it was more professional to be registered, but as more and more people see they are about to lose 20%, I may lose business charging VAT. I'm not in the photographic industry although as there is more contact with private individuals, I imagine competing with someone charging 20% less is going to be psychologically more difficult.

But I have not yet decided. In truth, I think this is a really bad idea to raise the vat rate. It will effect everyone and is like a pay cut for most people.

Graham
 
blue max said:
But I think you may find the percentage rate goes up too :'(

When the vat rate went down they lowered it less than before, then it went back up and again it was yet less than before, now it will be...
Click to expand...

You are right, they are showing two links on their web site, one with the current rates and one from January onwards. Mine is up by 1.5%.

Still its a whole £250 extra to me a year and not in HMRC's pocket.
 
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