Please let me know which companies have not passed on the new lower VAT

avstar

catch22 wrote: »

Sorry everyone but why are you concerned about 2%? Okay this is a money saving forum but 2% less on an item is not going to entice me to buy it.

You're right that 2% off isn't going to entice most people to buy more, but I think the point people are making is it's naughty that retailers aren't passing this saving onto the consumer, as they should.

And yes £2 off a £100 microwave isn't much but a retailer that sells 1000 microwaves a week is pocketing an extra £2k a week that should be in the consumers pocket.

chiff

Peter_Kendrick wrote: »

www.netflights.com or Airline Network
Checked car hire prices last week and they are the same today...no VAT reduction.

Could be because VAT is zero-rated on passenger transport.

soolin

chiff wrote: »

Could be because VAT is zero-rated on passenger transport.

Reminds me of a woman kicking up a hell of a fuss in Primark this morning as her items were not reduced..assistant was trying to point out that she was only buying childrens clothes which are not subject to VAT, but woman was adamant that the bloke on the telly said that prices would be reduced and she demanded her discount. When I left she was throwing things around and demanding to see a manager.

Phyzelda

I just brought a Wii game in WOOLWORTHS and that hadn't changed

ethansmum

Amazon prices have definately gone up

Bob63

chiff wrote: »

Could be because VAT is zero-rated on passenger transport.

Original post was about car hire (UK I assume), which is subject to VAT.

dazzer68

if they dont pass on the vat reduction, they will still have to declare 17.5% to the taxman. im not sure whos checking that bit, but it was on tv this morning, that if retailers havent reduced the vat on the goods they must declare so to the tax man!

ethansmum

The reduce the vat but increase the base price, so totally legit.

blue_monkey_2

dazzer68 wrote: »

if they dont pass on the vat reduction, they will still have to declare 17.5% to the taxman. im not sure whos checking that bit, but it was on tv this morning, that if retailers havent reduced the vat on the goods they must declare so to the tax man!

Wrong - whop on earth said that? They will pay 15% on their sales as declared on their VAT return. Companies can charge whatever they want but the receipt must state the right amount of VAT if they give a VAT receipt. A VAT receipt is not something any retailer has to legally give, you can ask for one, but they do not have to supply one unless you are a VAT registered and then you have to supply your VAT number. You can find all of these details on the HMRC website.

Remember. This 'cut' is there to help the economy, none of you know how much trouble these businesses are in. The money 'they pocket' could be helping to keep them afloat and to keep people in jobs and off the dole queue.

So before going on about the rate please remember this.

The Chancellor is an idot! The rate cut is there to help THE ECONOMY - this would be consumer, employee and employer as one without the others is stuffed! He should be strung up for saying that it is down to retailers to pass on the cut as if they cannot afford to then why should they? Should the company just make everyone redundant so the Governement has more people to pay Dole money too? Some companies cannot afford the paperwork it is going to take for what is going to be a temporary measure for a few months. Some retailers might be having financial difficulties so they will be able to keep their head above water in these difficult times. And I for one do not begrudge any company that money if it means they can keep themselves/other people in employment.

I think we need to get a grip and realise just what we are saving. If you spend £500 on 'luxury and vatable goods' before Xmas then you'll only be saving £10 anyway. Is it really worth the hassle for a £10 saving. You can get more than this by spending £100 in Argos and getting a £10 free gift card!!

deanos

QVC and Maplin are not passing on the cuts