Under the budget starters gun!

[Rob-GB]

Well it seems we have a reprieve in the UK until January 2011 when VAT will jump 2.5% to 20% on all our Festool purchases (along with virtually everything else [sad]) So I am re-thinking the wish list to get the most expensive wishes first, while desperately looking for a way to fund them in our still depressed market place.
The upbeat side of this news is I will not have to use the credit card to get the next bit of kit planned, I can save another month or so, which is so cool because I've only just stopped the darn thing glowing in the dark  ;D ;D
Rob.

 

[Paul Franklin]

Rob

Sorry to hear about the VAT. I was reading about it on the BBC news site.

As an expat I am glad to be away from the expense of living in the UK, (or as I say YUK!)

Paul

 

[ajones]

Well it seems we have a reprieve in the UK until January 2011 when VAT will jump 2.5% to 20% on all our Festool purchases (along with virtually everything else [sad]) So I am re-thinking the wish list to get the most expensive wishes first, while desperately looking for a way to fund them in our still depressed market place.
The upbeat side of this news is I will not have to use the credit card to get the next bit of kit planned, I can save another month or so, which is so cool because I've only just stopped the darn thing glowing in the dark  ;D ;D
Rob.

Looking on the bright side there is no vat on Jaffa cakes [big grin]

 

[Paul Franklin]

The only thing I miss, is Pie and Mash, and Chocolate Digestives, we have French one here, but they are not as good.

 

[Sean7a]

What!  2.5% up to 20%!?  That is a massive jump.

Talk about compensating for a poor economy.  Here in NY they've introduced new mandatory license plates.  Same idea IMO...

 

[harry_]

mandatory license plates

?

 

[Sean7a]

New mandatory plates.  In other words, YOU have to upgrade!

 

[harry_]

sorry, I just assumed plates were mandatory in the first place

 

[AdamM]

sorry, I just assumed plates were mandatory in the first place

Yeah, plates are mandatory but they typically last many years.  Sounds like they are forcing everyone to buy new ones.

 

[Sean7a]

sorry, I just assumed plates were mandatory in the first place

No apologies!  I was just shocked when I found they were mandatory replacements of plates that were recently updated.

 

[harry_]

SO glad I live in New Hampshire! Property tax is nearly obscene. However there is no income or sales tax. The taxes on alcohol & tobacco are significantly lower than in our neighboring states. This year is supposed to be the last of a 2 year `budget deficit surcharge` for vehicle registrations. we'll see.

I have such a hard time fathoming a %20 tax at the register AND having an income tax. Something tells me the second amendment would come to life if that were to happen here! [scared]

 

[Paul Franklin]

Harry

In the UK, you do not add the tax at the register, it is already included in the cost on the shelf. Unless you are buying tools, sometimes they add it, because you used to be able to buy pro tools tax exempt, not sure if it is still the same?

 

[Deansocial]

Harry

In the UK, you do not add the tax at the register, it is already included in the cost on the shelf. Unless you are buying tools, sometimes they add it, because you used to be able to buy pro tools tax exempt, not sure if it is still the same?

general retail vat is already added on (often broken down on the reciept) were as trade items are all priced as a +vat price

 

[harry_]

gotcha,... but still!

 

[Jonhilgen]

Don't worry guys, the VAT is on its way over here.  They're running out of rich people to tax.  We're next...

 

[woodguy7]

The big problem with me is in Jan i will have to charge my customers 20% vat on my labor.  I lot of private customers don't like paying vat on labor already & they are going to like it even less in Jan.  Some might just get someone who is not vat registered to do the small jobs instead  [crying]  The problem is i don't blame them.

Woodguy

 

[zapdafish]

do you pay just a vat, or do you have to pay income tax on top of that?

 

[nickao]

A tax on labor is outrages!

 

[woodguy7]

We have to pay both.

 

[Tom Ryan]

Don't worry guys, the VAT is on its way over here.  They're running out of rich people to tax.  We're next...

If the rich people over here paid as high a proportion of their income as I do, we'd have a HUGE budget surplus.  The real problem is that the system soaks us middle class as much as we can stand, and the rich have too much influence on our government to allow congress to close down or narrow the loopholes

Tom in Central PA