Who is passing on the VAT Rate Cut? A "Name and Shame" Thread

JimmyTheWig

blue_monkey wrote: »

more texts if you pay per text.

But that's my point. If it's currently 10p per text, are they going to reduce it to 9.79p?

blue_monkey_2

Probably, if your invoice is analysed like mine is from Orange, then yes.

Or they could just put the price of the text up.

I guess you'll have to wait to find out until Monday - or ask them. I am on Dolphon Orange, I'll not be whinging over 30p each month if the call/text rates go up, I'll still get charged £15 with free lifetime texts.

blue_monkey_2

Here is an example from another thread asking if things would be reduced some Monday: http://forums.moneysavingexpert.com/showthread.html?p=16232591&posted=1#post16232591

They pointed out that this LCD wall thing was £129 in JL but today it is reduced to £126: http://www.johnlewis.com/230487588/Product.aspx

Hurrah, JL are passing on the rate.

However, Euroffice have the same item for less than £89 including VAT, plus you can get 15% off your first 3 orders AND you get 11% back on Quidco. So you could buy that off Euroffice for £76 (free delivery) and then you'd get £8.36 back from Quidco so it would have cost you just over £65. FOR THE EXACT SAME ITEM THAT EVERYONE IS ARGUING THE TOSS OVER ABOUT A £3 SAVING ON THE JL WEBSITE. And this is why we need to name and shame??

This is what I find so absurd. People are obsessing over the ridiculous little things. Shop around, buy things cheaper the same as we always did, that was the point of this site. ARGHHHHHHHHHHHHHH.

Money_Spinner

I run a restaurant in Salisbury It is called The Cross Keys Restaurant in the cross keys shopping centre near TKmax. We have already passed on the vat cut to our customers !!!! I feel quite proud as we had to have our menu reprinted and our till reprogrammed - and it was done in 48hrs !!!!

Lifeisbutadream

Money_Spinner wrote: »

I run a restaurant in Salisbury It is called The Cross Keys Restaurant in the cross keys shopping centre near TKmax. We have already passed on the vat cut to our customers !!!! I feel quite proud as we had to have our menu reprinted and our till reprogrammed - and it was done in 48hrs !!!!

You do realise that you still have to pay 17.5% VAT on anything before Dec 1st?

Markyt

brightonman123 wrote: »

i reckon HMG should have made VAT down to 10 or even 5- aw heck, ZERO percent, for December only- we are all going to be taxed to hell later on,so a few hundred billion extra cant hurt that much more??

They aren't allowed - 15% is the minimum under EU rules, excluding domestic fuel.

blue_monkey_2

Money_Spinner wrote: »

I run a restaurant in Salisbury It is called The Cross Keys Restaurant in the cross keys shopping centre near TKmax. We have already passed on the vat cut to our customers !!!! I feel quite proud as we had to have our menu reprinted and our till reprogrammed - and it was done in 48hrs !!!!

Oops, that could mean big trouble if any business customers, or those who claim their expenses from their company, come in to eat and then try to reclaim their VAT using their receipt. They have been charged the incorrect amount of VAT. They can then report you to HMRC as they can then not claim back the right amount of VAT on their return. I am doing mine on Sunday and I'd not be pleased to find I've been charged 15% already when the rate is 17.5%. I am not quite sure you realise the implications of what you have done.

Edit: Uh-oh. I just re-read your post, you've even given the HMRC your details on this forum and have admitted you are chaging your customers the incorrect rate of VAT. You might have thought you were advertising your little place to eat but you've made a big boo-boo there.

Money_Spinner

I know what I am doing - I have run the business for 16 years - my prices have been reduced to reflect the new VAT rate but till monday I will make up the difference - My vat receipts will still have 17.5% on them till monday then they will be changed. This is in fact what all the major retailers who have already reduced the rates are doing. The governement will get all their share of what they are owed.

The post was not for advertising - it was to show that it can be done if people want to and quickly. So i do not think I have made a boo -boo In fact my customers are very pleased about it !!!!

Lifeisbutadream

I am in a better position re charging the correct amount. I have re-sent all recent quotes with the new rate and im not invoicing anyone for work done this week until Monday.

But mine are relatively simple - our labour cost is simply amount+VAT - any materials have to be charged the same unless they are sold at amount+VAT.

JimmyTheWig

Markyt wrote: »

They aren't allowed - 15% is the minimum under EU rules, excluding domestic fuel.

I heard that they would have been allowed to reduce it below 15% as a temporary, emergency measure.