The Virtual Pub
Come Inside... => The Commons => Topic started by: Nick on November 23, 2008, 08:35:41 PM
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Found this on the blogosphere.Interesting
PS M'learned friend the Village Postmaster makes an excellent point about the prospective cut in VAT. Since VAT is levied on turnover, not on an item by item basis, there is no compulsion on retailers to spread the 2.5% cut evenly across the shop. It would be much more rational for them to load the cut onto items where there'd be the biggest response in terms of extra sales. F'rinstance, booze - Tescos could load the cut on to their famous 22p lager - get it down to say 15p a can. Or fags - what about giving smokers a break? Or petrol? These are all things that have really suffered from having a high tax madman at the controls. And surely nothing would cheer us up more than cheaper booze, fags, and gas guzzling? The Postmaster describes the VAT cut as Gordo's contribution to the marketing budget of our biggest retailers. Sirs Terry and Stuart will be pleased. As will the overseas manufacturers who now supply our shops with virtually everything we'll be buying
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Must get to Specsavers. redface:
Three times I read the title as "Thai VAT cut" and wondered why the little gamelan tinklers were ahead of us.
The quote is of course 100% correct unless they split the VAT rating across defined categories.
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Interesting point on VAT... rubschin:
I think if the rate is cut to 15% the sheeple would expect to be able to get a 2½% discount on things they want to buy and not necessarily stock up on White Lightening or whatever... noooo:
Looks like Gorgon is going to give away billions on Monday today but I can't see the 'stimulus' package having any more effect than trying to stimulate him into being interesting with a cattle prod.
Sheeple will obviously welcome a few quid off their weekly bills and would love a tax rebate but, given the length and depth of the likely recession, if they have a few quid left over at the end of the month I think it is more likely that they'll stick it under the mattress for a rainy day than do a Viv Nicholson... noooo:
Anyhoo... the UK makes fuck all now... if the Sheeple do go out and blow their windfall on new TVs and DVDs they'll all have to be imported.
Election in April or May. cussing:
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According to an "expert" on the tv this morning, it will be more of a psychological effect. People will "think" it is massively cheaper and so go out and load up.
So really it will just be digging us deeper into the hole.
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According to an "expert" on the tv this morning, it will be more of a psychological effect. People will "think" it is massively cheaper and so go out and load up.
So really it will just be digging us deeper into the hole.
Unless he can pull something really amazing and unexpected out of the bag I don't think the sheeple will fall for it and go out spending... rubschin:
The spin doctors must be spinning like tops at the moment...
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It's this years Farepak. noooo:
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Just heard a good dissection of hte whole package on The Today programme. Must be on listen again later, will post alink.
Essentially, it is argued (correctly I believe) that they are borrowing £300 off each of us to give us back in taxes and then we have to repay ourselves later. With this £300 we are meant to go out and spend spend spend to save the economy.
Shite
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Just heard a good dissection of hte whole package on The Today programme. Must be on listen again later, will post alink.
Essentially, it is argued (correctly I believe) that they are borrowing £300 off each of us to give us back in taxes and then we have to repay ourselves later. With this £300 we are meant to go out and spend spend spend to save the economy.
Shite
Didn't the US give everybody $700? rubschin:
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Maybe, and now Ford, GM and Chrysler are on the verge of collapse.
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But that was an actually cheque! Frankly if I had an actual £300 cheque in the post I probably would spend it. redface:
2.5% off VAT isn't going to change my spending habits one iota.
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All utter buncumb.
Sheepies delight however. ::)
Fiver off a LCD tv. I can hardly contain meself , and must rush out and buy a new Mondeo with a £300 reduction too to carry it home like. eeek:
20% (at least) VAT within 18 months, you see. He's been gagging to increase it for years. cussing:
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But that was an actually cheque! Frankly if I had an actual £300 cheque in the post I probably would spend it. redface:
2.5% off VAT isn't going to change my spending habits one iota.
"British Tat Industry shares soar"
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It's not available yet, but it will be here later and the interview began at 8.54
http://news.bbc.co.uk/today/hi/today/newsid_7745000/7745197.stm (http://news.bbc.co.uk/today/hi/today/newsid_7745000/7745197.stm)
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Heard it "live" thanks all the same ~ It is of course "speculation" until the Chancellor actually announces it.
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About to start... (http://news.bbc.co.uk/2/hi/uk_news/politics/7740897.stm)
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The chancellor says he wants the UK to live within its means
Surely that means not borrowing.
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The chancellor says he wants the UK to live within its means
Surely that means not borrowing.
That's what it means to you and me Uncle... noooo:
Clearly he lives by a different set of rules....
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We've just been told borrowing will be 8pc of GDP within two years - that's higher than the percentage borrowed under the Labour government of the seventies. There is Opposition incredulity that everything will be on an even keel by 2015/6, as Darling says it will then be a case of borrowing only to invest again.
eeek:
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Alcohol, tobacco and petrol taxes will be raised to offset the VAT cut, Mr Darling says.
noooo:
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Alcohol, tobacco and petrol taxes will be raised to offset the VAT cut, Mr Darling says.
noooo:
VAT will be cut from 17.5 to 15% until the end of next year
And will the tax on alcohol, tobacco and petrol come back down at the year end?
I don't think so.
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Alcohol, tobacco and petrol taxes will be raised to offset the VAT cut, Mr Darling says.
noooo:
VAT will be cut from 17.5 to 15% until the end of next year
And will the tax on alcohol, tobacco and petrol come back down at the year end?
I don't think so.
noooo:
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I think those of us watching have just seen Labour lose the next election and many more after than!
The NI increase alone negates everything he has "given" the tax payer. But then he hasn't given us anything except a debt that will not be paid off before all of the current members of this forum are dead and buried.
BTW I Thought George Osborne did well given that he has to make an instant response.
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I think those of us watching have just seen Labour lose the next election and many more after than!
The NI increase alone negates everything he has "given" the tax payer. But then he hasn't given us anything except a debt that will not be paid off before all of the current members of this forum are dead and buried.
BTW I Thought Geogre Osborne did well given that he has to make an instant response.
Agreed...
I was surprised that he didn't go further and putting up booze, petrol and fags was insanity... What a tosser... noooo:
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Something I heard over the weekend bothers me. Apparently people are happy to keep Gordo in office when things are bad but will get shot of him as soon as they improve.
If that is true then Gordo has a vested interest in keeping this country the cess pit it is currently becomming.
It certainly explains a lot of what went into the budget.
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Something I heard over the weekend bothers me. Apparently people are happy to keep Gordo in office when things are bad but will get shot of him as soon as they improve.
If that is true then Gordo has a vested interest in keeping this country the cess pit it is currently becomming.
It certainly explains a lot of what went into the budget.
The figures are so terrible already I was surprised that they didn't go further with a huge give-away and then call an early election...
I wonder if the IMF has had a quiet word in Gorgon's shell like...? rubschin:
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1710Professor Peter Spencer, chief economic advisor, Ernst & Young Item Club This statement says more about the shocking state of the public finances inherited by Alistair Darling from Gordon Brown than it does about the recession or the measures he's taking to try to deal with it. The recession now hitting hard, we're looking at public borrowing reaching a cool £118bn, 8% of GDP next year. In 2012/13 he is still going to be borrowing £70bn - that's almost £50bn more than he anticipated for that year back in April. , chief economic advisor, Ernst & Young Item Club
I couldn't have put it better myself, Brown made a total balls of the economy while he was responsible for it and claimed that the world economy had no effect on its improvements, quite the opposite of when it was obvious how much of an abortion he has made of it. I do wonder however just how much of this budget has come from Darling and how much was hammered into him by the clunking fist.
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I also wonder if they've decided that they don't want to win the next election... leave the shite to the Tories... rubschin:
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And then do a Tony and find nice paying jobs overseas?
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I also wonder if they've decided that they don't want to win the next election... leave the shite to the Tories... rubschin:
You a member of a certain off roading forum I frequent, as virtually those exact words have been stated by one of its members. Spooky AND so true.
Restaurants. I bet they're well chuffed. All the bloody menu's are going to have to be re-printed now, and at what cost? eeek:
Printers. Probably delighted with Mr Darling, and possibly the only ones to benefit from this fiasco. ::)
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Anyone remotely involved in sales will be unimpressed, the amount of work that is going to take is insanity!
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I also wonder if they've decided that they don't want to win the next election... leave the shite to the Tories... rubschin:
You a member of a certain off roading forum I frequent, as virtually those exact words have been stated by one of its members. Spooky AND so true.
Restaurants. I bet they're well chuffed. All the bloody menu's are going to have to be re-printed now, and at what cost? eeek:
Printers. Probably delighted with Mr Darling, and possibly the only ones to benefit from this fiasco. ::)
Surely one doesn't dine in Restaurants where they put prices on the printed menu?
My local purveyor of fine foods may need to buy some more chalk I suppose point:
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How much VAT is on food now...?
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Cooked food is VAT'd at standard rates. Uncooked food does not currently attract VAT
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So it isn't really going to help your weekly shop then... noooo:
And is it right that he could only cut VAT to 15% because of EU rules?
VAT here was 10% 'til we joined the EU and is 15% now so that would make sense... rubschin:
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So really it is only going to help those who could already afford to buy "luxury goods" Banghead
So basically, I am going to be worse off because of the NI rise. What a pile of devils testicles. cussing:
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So really it is only going to help those who could already afford to buy "luxury goods" Banghead
So basically, I am going to be worse off because of the NI rise. What a pile of devils testicles. cussing:
Indeed... they are a shower of shite...
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I also wonder if they've decided that they don't want to win the next election... leave the shite to the Tories... rubschin:
You a member of a certain off roading forum I frequent, as virtually those exact words have been stated by one of its members. Spooky AND so true.
Restaurants. I bet they're well chuffed. All the bloody menu's are going to have to be re-printed now, and at what cost? eeek:
Printers. Probably delighted with Mr Darling, and possibly the only ones to benefit from this fiasco. ::)
Surely one doesn't dine in Restaurants where they put prices on the printed menu
Indeed. Tonight being one of those such occassions in fact, and the bill will include VAT @17.5% ::)
Why couldn't she have had her burfday next week, selfish moose.
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Given the drop in VAT, the increases in Employee and Employer NI contributions and the 2p a litre on all fuels I should think the normal weekly shopping for "staple" foods etc will rise rather than fall. As Wenchy says luxury goods will see a drop but it will be a very small drop. It certainly will not be 2.5% off the list price that's for sure and anyone who thinks it will doesn't understand how VAT works.
It is a fact that the man has borrowed £20 billion and the cost to us when pay back comes round will be £40billion.
Osborne (like him or not) was right. This is what all Labour Governments do and what they will always do. It is just that this time they have fooled enough of the people to enable them to keep on doing it for 11 years and that is why we are in the mess we are. It has sod all to do with the USA and all to do with Gordon and Prudence racking up huge debts before we even got into recession. Look at the massive debts that aren't even on the books. PFI for example. Yet another deferred debt that will have to be paid one day ~ meanwhile the "interest" in the form of rents and maintenance costs are enormous. Our local Police HQ was built as a PFI and cost $35million. In thirty years time the tax payers will have to repay that £35m and in the meantime they are paying £5m per year just to use it. So a building (that we didn't really need anyway) will cost at least £185 million ~ just to give the cops somewhere to hide whilst they eat their donuts. Add to that one example all the schools, hospitals, government offices etc that have been built under PFI and you are looking at a huge debt that is being deliberately kept off the accounts. If you then add to it the debt that we know about we are royally fvcked..
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I also wonder if they've decided that they don't want to win the next election... leave the shite to the Tories... rubschin:
You a member of a certain off roading forum I frequent, as virtually those exact words have been stated by one of its members. Spooky AND so true.
Restaurants. I bet they're well chuffed. All the bloody menu's are going to have to be re-printed now, and at what cost? eeek:
Printers. Probably delighted with Mr Darling, and possibly the only ones to benefit from this fiasco. ::)
Surely one doesn't dine in Restaurants where they put prices on the printed menu
Indeed. Tonight being one of those such occassions in fact, and the bill will include VAT @17.5% ::)
Why couldn't she have had her burfday next week, selfish moose.
But as you are a guest surely you will not be paying? eeek:
The mere fact that you have been invited removes that obligation. Let the brother in law pay ~ it's his wife's birthday after all.
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No, that's NEXT month. ::)
It's Mrs GROWLERS burfday today, and I'm having to pay. Banghead
Do try keeping up, as difficult as it is I know. ;)
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McDonalds then
They'll even do a full party ~ but you have to take your own cake like whistle:
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Anyhoo... ::)
They keep talking about a Trillion Pounds of Debt but I seem to recall that we were already a Trillion Pounds in debt - credit cards, etc. Or am I wrong (for once)...? rubschin:
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I think it's 2 trillion
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I think it's 2 trillion
What, two trillion plus the new trillion making three...?
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No just 2 trillion, that's all
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No just 2 trillion, that's all
So I was correct in my earlier post then...? ::)
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I can't remember
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I can't remember
doh:
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http://www.order-order.com/2008/11/people-will-bail-out-of-bail-out-states.html (http://www.order-order.com/2008/11/people-will-bail-out-of-bail-out-states.html)
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Wonder if there is any legal grounds for taking Gordo to court for financial mismanagement... rubschin:
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Or just for being bonkers
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Anyone know the new formula? I've been multiplying by 7 and dividing by 47 for so long I've forgotten how to work it out confused:
Printers will make a quick killing with all that new stationery whistle:
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Divide by 100 and multiply by 15 noooo:
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Wrong ~ try again
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Old VAT was divide by 1.175 then times .175
New would therefore be divide by 1.15 then times by .15
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Awwwwww! You told him ~ I was looking forward to that.
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Old VAT was divide by 1.175 then times .175
New would therefore be divide by 1.15 then times by .15
OK. So what are the 2 numbers like 7 and 47?
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I've just worked it out... cloud9:
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Old VAT was divide by 1.175 then times .175
New would therefore be divide by 1.15 then times by .15
OK. So what are the 2 numbers like 7 and 47?
It seems that Darling has caught the Inland Rev & Customs out as their web site stilll gives the old method http://www.hmrc.gov.uk/vat/reclaim-howto-calc.htm
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Absolutely no idea. Why would you use two numbers that bear no relation to the actual rate?
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Um. £100.Divide by 100 = 1
Multiply by 15 = 15
Thus vat at 15% on 100 is 15, making 115
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See the link I provided earlier
http://www.hmrc.gov.uk/vat/reclaim-howto-calc.htm
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Absolutely no idea. Why would you use two numbers that bear no relation to the actual rate?
In my book keeping practice (arcane as it may be) I want to know the VAT figure first on a bill I've paid where it isn't itemised, not the Nett figure.
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Um. £100.Divide by 100 = 1
Multiply by 15 = 15
Thus vat at 15% on 100 is 15, making 115
Yes Nick we all understand that basic calculation from a cost price but if you buy an item costing £376.49 inclusive of VAT how would you calculate how much VAT you had paid in order that you might claim it back if for example you were VAT registered and wanted to off set your VAT paid against that you owed or as another example if you were leaving the country and thus qualified to buy the item VAT free?
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Absolutely no idea. Why would you use two numbers that bear no relation to the actual rate?
In my book keeping practice (arcane as it may be) I want to know the VAT figure first on a bill I've paid where it isn't itemised, not the Nett figure.
'nuff said.
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The new numbers are .............
6 and 46 drumroll:
It's just quicker on the calculator to multiply the amount by 6 and divide by 46, enter the new VAT amount and then enter the Nett figure.
£49.11 is the new VAT figure btw, on your example, like
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It seems that Darling has caught the Inland Rev & Customs out as their web site stilll gives the old method http://www.hmrc.gov.uk/vat/reclaim-howto-calc.htm
It doesn't surprise me. ::)
I've had a communication from HMCR this week in which the tax due statement bears no relation to the computation from my accountants. My accountant's reaction was:
" eeek: ::) Let's wait until late December / January and see what they say then"
HMCR are incompetent in so many ways...
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Before I scrolled all the way down the thread I asked Mrs JOM (does accounts) what the new figures were, she said 3 and 23 (half your figures Pastis). I ain't gonna bother telling her you said 6 and 46, I'll never hear the last of it
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She's quite right JOM. I worked it out by trial and error knowing that it had to be less than 7 & 47 which won't divide down any less.
And.... 3 & 23 works just as nice because the figures on the keypad are side by side happy088
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Now all we have to do is explain it to Nick tunble:
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I have no idea what you are all talking about
How do you do the sums for the (alleged) increase to 18.5%?
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I always used to use 3 and 23... whistle:
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Useful numbers, those
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My brain hurts.
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I find it one of the worst chores of running a business ~ being an unpaid tax collector evil:
There's another one that nearly caught me out; occasionally I sell material, books etc in a venue. The venue demands a 20% cut of the sale. How much do I increase the price of the material by to ensure I'm covered exactly? Not the obvious answer whistle:
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rubschin:
rubschin:
angry041:
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happy100
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B@STARDS !! evil:
I've just noticed that they've switched from supplying pre-paid envelopes to return your VAT cheque to ones where I have to supply the stamp evil: That one slipped under the radar... ok, only the cost of a stamp but more tightening of the screw evil:
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Whilst this is rapidly turning into the Pastis VAT thread I've had a missive from the FAT controller today, one Geoff Lloyd (must be Welsh?), informing me that the VAT fraction has changed from 7/47ths to 3/23rds.
Well, FAT man you're late! We'd worked that out. What happens when we're late? Effing penalties! What happens when you're late? Buggerall evil: And no mention of the fact that in addition to collecting the Fat for you we also have to pay to send it to you evil: in your four page letter!
Thank you. I feel moderately unburdened.
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Whilst this is rapidly turning into the Pastis VAT thread I've had a missive from the FAT controller today, one Geoff Lloyd (must be Welsh?), informing me that the VAT fraction has changed from 7/47ths to 3/23rds.
Well, FAT man you're late! We'd worked that out. What happens when we're late? Effing penalties! What happens when you're late? Buggerall evil: And no mention of the fact that in addition to collecting the Fat for you we also have to pay to send it to you evil: in your four page letter!
Thank you. I feel moderately unburdened.
lol: lol: lol:
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http://uk.youtube.com/watch?v=wtIjgsxe-jM&eurl=http://www.iaindale.blogspot.com/ (http://uk.youtube.com/watch?v=wtIjgsxe-jM&eurl=http://www.iaindale.blogspot.com/)
eeek:
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A terrible ring of truth about that clip noooo:
I could not believe, last week, how many people when interviewed about the effect of the 2.5% cut, thought that prices would reduce by 2.5% eeek: And these were not the man in the street, but included some on QT and on R4 ::)
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Proving once again that you can fool some of the people most of the time and most of the people some of the time.
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I have been emailing.I expect to get arrested
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You'll be allowed one phone call ~ Don't call me!
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I watched QT last night... I have to say I was encouraged at the general feel of the audience towards the VAT cut... cloud9:
(i.e. they all thought it was shite)
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I watched QT last night... I have to say I was encouraged at the general feel of the audience towards the VAT cut... cloud9:
(i.e. they all thought it was shite)
I Got about 25p off new clothes in m&s, also pennies off in sainsbogs...LOL tunble:
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New Clothes???? M&S???? Sainsbogs???????
She's spending it before it's even cold. eeek:
Get more off if you wait a fortnight for the sales to start ~ The "reduced" VAT will still apply.