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Ritz Hotel Cooking the books...
Comments
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grizzly1911 wrote: »They don't pay VAT the customer does.
They hand it over to the tax man. It's also a tax on the goods they are supplying.0 -
They hand it over to the tax man. It's also a tax on the goods they are supplying.
The manage the collection of tax. I doubt they would conciously take a cut in profit levels to hold the price of goods and services, inclusive of VAT, at the pre VAT levels.
OK they might shave a bit off to hold market share perhaps , maybe, short term.
Brands don't strike me as price sensitive they are brought for self gratification over price."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »The manage the collection of tax. I doubt they would conciously take a cut in profit levels to hold the price of goods and services, inclusive of VAT, at the pre VAT levels.
OK they might shave a bit off to hold market share perhaps , maybe, short term.
Brands don't strike me as price sensitive they are brought for self gratification over price.
Economic theory says that a consumption tax will be partly paid by the company via reduced profits and partly paid by the consumer via higher prices. You can make of that what you will but it's a standard part of supply and demand theory.
I've never bought from Starbucks because it's Starbucks, merely because it's caffeine that is available and comes with a comfy seat. I guess for some Starbucks could be a lifestyle choice, I'd never considered it TBH.0 -
There seems to be an anti business agenda. Which isn't what's required currently. As it's business that provides jobs. In the process contributing tax revenues (PAYE and NIC) to the exchequer.
The Ritz would have paid over £5.6 million in VAT on its 2011 turnover. Which was greater than it's pre tax profit of £5 million. So everything needs to be kept in perspective.0 -
If Littlewoods had recovered the massive tax rebate themselves, would they have even gone bust?
Did the negligence of the board in not sorting out their tax affairs correctly diddle the shareholders at the time the company went pop and therefore should the old board be brought to account?Sealed pot challange no: 3390
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