VAT Cut backs ....

[BrilloPad]

http://forums.contractoruk.com/gener...e-changes.html

try to keep up at the back.

[diesel]

That would be right...which would really go against the governments plans...im hoping they will announce a extra 1% compensation on how much we get too keep or something to offset the loss....

All that said, im glad the government are doing something to try and kick start everything...I would sacrifice some VAT income for a more stable economy...more chance of that next contract etc....

Well finally goverment get the hands out and do something..albeit late!

I very much doubt they will announce an extra 1%.
Personally wish they would tax the fat cat bankers more to compensate for everyone else....

[dx4100]

If VAT is cut down to 15% how will this effect our LTD Co? apart from only being able to charge clients 15% VAT i see it means we make less income from VAT benefit if youre on a fixed rate VAT scheme....please correct me if i am wrong...

That would be right...which would really go against the governments plans...im hoping they will announce a extra 1% compensation on how much we get too keep or something to offset the loss....

All that said, im glad the government are doing something to try and kick start everything...I would sacrifice some VAT income for a more stable economy...more chance of that next contract etc....

[diesel]

If VAT is cut down to 15% how will this effect our LTD Co? apart from only being able to charge clients 15% VAT i see it means we make less income from VAT benefit if youre on a fixed rate VAT scheme....please correct me if i am wrong...