VAT

[jamesbrown]

Going to wait until after Brexit for that 911 TTS - no VAT, what's not to like!

A 25% local sales tax?

[AtW]

A 25% local sales tax?

And "First Registration Fee" of 50%

And exchange rate of 1 euro for £2

[jamesbrown]

And "First Registration Fee" of 50%

And exchange rate of 1 euro for £2

Buy, buy, buy, before they run out!

[TwoWolves]

Gove's PM ambitions are a burnt cinder.

[AtW]

Gove's PM ambitions are a burnt cinder.

Blown with the wind...

[NigelJK]

Blown with the wind...

Considering Vat was brought in to pay for entry into the common market, guess what it should be after we leave.

[DoctorStrangelove]

Gove's PM ambitions are a burnt cinder.

Of coke?

[JohntheBike]

Bring back Purchase Tax.

The ins & outs of that little miracle would boggle the mind.

Rates of 33%, 66%, 100% according to the whim of whatever feckwhit Chancellor we had at the time.

Not to mention deemed taxation on the rent you don't pay because you own your own house.

Hearth Tax wouldn't bring in much, but just think of the killing they'd make on Window Tax these days.

Purchase tax was only applied to luxury items. So, when you wanted to by a hammer, or some wood, etc, there was no purchase tax. Cars and cameras, etc were classed as luxury goods.

However, I believe that VAT was a favourite tax system of the EU and so purchase tax was abandoned here in the UK when we joined the EU, in favour of VAT, and was systematically rolled out to items that were never taxed previously. Initially it was hoped that cars and other luxury items would go down in price, but this never happened. A "special car" tax was applied which made the VAT + this tax total much the same as purchase tax.

By the time the Labour government left power in 1979, the income tax rate was 33%. So, it's swings and roundabouts. It could be argued that VAT allows the consumer some element of choice, whereas income tax doesn't, but that's all supposes there are some items which do not attract VAT that you need for your lifestyle.