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Has new VAT rate started ?!

2

Comments

  • Lifeisbutadream
    Lifeisbutadream Posts: 13,102 Forumite
    ahinds wrote: »
    if vat goes up in the budget on 22nd june when will it come into effect i have a new car due for delivery early july should i pay for it before the budget
    Thanks

    OK - it will go up to 25% on 23rd June. At half past 9. :) I think you should go and pay for it now.
  • dzug1
    dzug1 Posts: 13,535 Forumite
    10,000 Posts Combo Breaker
    ahinds wrote: »
    if vat goes up in the budget on 22nd june when will it come into effect i have a new car due for delivery early july should i pay for it before the budget
    Thanks

    It will come into effect when the budget says it will come into effect.
  • phil8715
    phil8715 Posts: 23 Forumite
    I know the budget is on the 22nd June. Will the VAT rise to 20% the same day?
  • Lifeisbutadream
    Lifeisbutadream Posts: 13,102 Forumite
    phil8715 wrote: »
    I know the budget is on the 22nd June. Will the VAT rise to 20% the same day?

    Yes. It will take effect 5 minutes after it is announced.:)
  • dzug1
    dzug1 Posts: 13,535 Forumite
    10,000 Posts Combo Breaker
    phil8715 wrote: »
    I know the budget is on the 22nd June. Will the VAT rise to 20% the same day?

    read post 13
  • Lifeisbutadream
    Lifeisbutadream Posts: 13,102 Forumite
    dzug1 wrote: »
    read post 13

    and post 10
  • imajica
    imajica Posts: 93 Forumite
    In response to Lifeisbutadream's advice i've stocked up on Jaffa Cakes now...is that right?:rotfl:
    Make £5 a day in July - £105.33/£155

    Total debt July '09: £7,500
    Proud to be dealing with my debts but not proud that they are still the same a year on.
  • Lifeisbutadream
    Lifeisbutadream Posts: 13,102 Forumite
    imajica wrote: »
    In response to Lifeisbutadream's advice i've stocked up on Jaffa Cakes now...is that right?:rotfl:

    No because the budget will also announce that as from June 23rd Jaffa Cakes will be classed as biscuits and therefore not subject to VAT - you have wasted your time and money I am so sorry :(
  • John_Pierpoint
    John_Pierpoint Posts: 8,401 Forumite
    Part of the Furniture 1,000 Posts
    Have you not got that the wrong way round?
    Biscuits with chololate on the outside get charged at 17.5% VAT
    BUT a Jaffa CAKE is not a biscuit so pays 0% VAT?
  • Lifeisbutadream
    Lifeisbutadream Posts: 13,102 Forumite
    John_Pierpoint wrote: »
    Have you not got that the wrong way round?
    Biscuits with chololate on the outside get charged at 17.5% VAT
    BUT a Jaffa CAKE is not a biscuit so pays 0% VAT?

    Oops :o good job I dont work for the government !
This discussion has been closed.
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