Reply to: VAT

[DoctorStrangelove]

Some of us can remember when the standard rate of income tax was 35p in the £.

What were the rates of NICs at the time?

6% for employee, dunno about employers.

I'll look it up later.

Odd how as the tax rate went down NI went up to match.

Who'd have thunk it.

https://www.ifs.org.uk/ff/fiscalfacts2000.xls

[elsergiovolador]

6% for employee, dunno about employers.

I'll look it up later.

Odd how as the tax rate went down NI went up to match.

Who'd have thunk it.

Just politicians "looking busy" solving problems they created. On to the next elections...

[LondonManc]

We live in a high tax low margin economy, so companies will take every opportunity to increase their margins if it won't affect sales.

Who's we? Have you seen the margins on food?

[DoctorStrangelove]

6% for employee, dunno about employers.

I'll look it up later.

Odd how as the tax rate went down NI went up to match.

Who'd have thunk it.

[AtW]

Some of us can remember when the standard rate of income tax was 35p in the £.

What were the rates of NICs at the time?

[SueEllen]

Some of us can remember when the standard rate of income tax was 35p in the £.

[DoctorStrangelove]

Some of us can remember when the standard rate of income tax was 35p in the £.

[AtW]

We live in a high tax low margin economy, so companies will take every opportunity to increase their margins if it won't affect sales.

Yes, Gricer, obviously - that’s why publicly cutting VAT is Mor Onic move

[elsergiovolador]

You ain't seen nothing yet, trust me on that.

I wouldn't be surprised if one day we will get government issued debit cards with daily allowance and all salary you make (there will be no contracts) will go to HMRC. I think at one time HMRC actually had plans to implement this.

[DoctorStrangelove]

We live in a high tax low margin economy, so companies will take every opportunity to increase their margins if it won't affect sales.

You ain't seen nothing yet, trust me on that.

[elsergiovolador]

“ McDonald’s is cutting 20p off the cost of a Big Mac and 40p off a Happy Meal at most of its restaurants, while Nando's is lowering the price of a quarter Peri-Peri chicken from £4.25 to £3.70.

However, many of the price reductions are significantly smaller than the reduction in VAT, which has been cut from 20 per cent to 5 per cent, and many hospitality businesses have yet to announce price cuts at all.”

VAT cut: Big chains reduce prices — but not all go the whole hog | News | The Times



Where is the Mor On who advocated virtues of VAT cuts?

We live in a high tax low margin economy, so companies will take every opportunity to increase their margins if it won't affect sales.

[LondonManc]

If those fookers wanted to give businesses extra margin they could have just done VAT refund instead of pittining businesses against their customers demanding full pass on

If it gets to social media, I'm sure the Daves and Karens will pick up on it. They're already virus and racial equality experts, economics and maths shouldn't be beyond them. They can then have a high six after their campaign succeeds.

[AtW]

Most customers don't have any clue what VAT is.

They do now

[d000hg]

Most customers don't have any clue what VAT is.

[AtW]

Meal subsidy from next month should really increase margins, pretty stupid trying to pocket some VAT, will just piss off customers