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Has new VAT rate started ?!
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I have a vague recollection of this going to court with McVities saying it was a cake and HMRC saying it was a chocolate covered buscuit and subject to VAT. McVities won I assume?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?Always get a Qualified opinion - My qualifications are that I am OLD and GRUMPY:p:p0 -
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Vat going back to 17.5% is an inflationary factor which will be there until the end of this year. Popping it up to 20% from 1st January 2011 will just maintain the pressure, increasing it before then will add too much to the inflation rate, if it was increased after that it would dip then rise, so increase in Jan 2011 then the same for Jan 2012, 2013 etc.
There you go, that's Jan 2011 taken care of.0
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