First annual fall since VAT was introduced in 1973

[DaveB]

Bit more detail here.

Apparently it's all down to Missing Trader fraud.

[Bitbucket]

Treasury agenda

Originally Posted by threaded
Just because you build a machine to make hats doesn't mean you bear the responsibility if it is used to mask the face of a bank robber...

I think as long as the Bank robber pays VAT on the hat then HM Gov. arnt going to be too bothered about the robbery anyway.

[DodgyAgent]

Just because you build a machine to make hats doesn't mean you bear the responsibility if it is used to mask the face of a bank robber...

Nearly threaded but not quite; there is a difference between building something for an express legal purpose and profiting from it and building something that is unwittingly used for criminal activities.

[DaveB]

Just because you build a machine to make hats doesn't mean you bear the responsibility if it is used to mask the face of a bank robber...

No longer true if the court cases in the US surrounding viloent films and video games are to be belived.

[Dundeegeorge]

Well, while that was previously true

Just because you build a machine to make hats doesn't mean you bear the responsibility if it is used to mask the face of a bank robber...

don't be too sure it still is, or will remain so.

[threaded]

Just because you build a machine to make hats doesn't mean you bear the responsibility if it is used to mask the face of a bank robber...

[wc2]

No Thank you all you contractors who (whilst making yourselves heaps of money) built and designed the technology that enabled so much work to be done offshore

It seems that you are in a position putting contractors in position that has put the country in the position that it is in.

Conclusion - It's Chico's fault

[DodgyAgent]

as predicted on this forum, if you off-shore your employment, they dont pay tax in this country. They dont buy things in this country. The off shorers make more profits - thank you brown stuff.

No Thank you all you contractors who (whilst making yourselves heaps of money) built and designed the technology that enabled so much work to be done offshore

[EternalOptimist]

as predicted on this forum, if you off-shore your employment, they dont pay tax in this country. They dont buy things in this country. The off shorers make more profits - thank you brown stuff.

[bobhope]

I did it

it was me de-registering from VAT last year :-)

[wc2]

What's VAT?

[threaded]

Official data yesterday showed that VAT revenues tumbled nearly 14% in March compared with March last year. In the full fiscal year they were down 0.2% to £72.9bn - the first full-year drop. The fall in revenues is remarkable given that the economy has had two severe recessions since the early 1970s that did not cause VAT revenues to drop.

Doomed I tell ya!