vat ? worth waiting for?

dazzer68

is going to be worth waiting to purchase anything for christmas, if the vat gets lowered or not worth bothering with?

silkcutblue

Sort of depends how much you are spending and if the retailer you pick is planning on passing the saving on.

"BBC news: Chancellor Alistair Darling has cut VAT from 17.5% to 15% for 13 months in his pre-Budget report in a bid to get consumers spending again."

MrsBartolozzi

As far as I know , if it goes ahead, vat will go down by 2.5%, so if you are buying something very expensive, it might be worth the wait, but otherwise... it is up to you - if something costs you say £60 about £9 is vat so 2.5% off this £9 would save you about £1.28.
If there is a must have gift to buy, that might sell out, just buy now!
Just my opinion mind...
MrsB.


Edited:
Thanks to R1ch :T for spotting that I'd worked out 2.5% of £9 rather than taking off a seventh (17.5 - 15).:wall: .

r1ch

MrsBartolozzi wrote: »

As far as I know , if it goes ahead, vat will go down by 2.5%, so if you are buying something very expensive, it might be worth the wait, but otherwise... it is up to you - if something costs you say £60 about £9 is vat so 2.5% off this £9 would save you about 23p.
If there is a must have gift to buy, that might sell out, just buy now!
Just my opinion mind...
MrsB.

I think that your maths is a little off there:

17.5% VAT on £60 is £10.50
15% VAT on £60 is £9, so you'd save £1.50 rather than 23p

That's not quite the same as your example (because I'm taking the £60 as pre rather than post-tax, but it is near enough).

MORPH3US

Op, anything that previously cost you £100 will now cost you £97.87 = £2.13 saving.

Not a massive saving but then every penny counts.

Saying that, it depends on when the cuts come in and if companies even bother to pass them on at all.

katskorner

Then watch next year when the stealth taxes come in to pay for it all - this isn't going to happen for nothing.