Quotations!

[Mick Dempsey]

  On 02/03/2018 at 14:55, forestboy1978 said:

Yeah to me it makes perfect sense to have the VAT at a low threshold so the playing field is levelled fully and all customers expect to pay it 99% of the time. 

 

Perhaps not 5k but maybe 20k giving absolute startups a few months or a year to get on their feet before they start paying VAT. A tiny little edge if you will. 

 

 

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VAT threshold in France around €32000, for what it’s worth.

[Mark Bolam]

  On 02/03/2018 at 11:06, Steve Bullman said:

This has been said for years and couldnt be truer IMO

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It would make sense in the long term for sure, but would the public entertain a 20% price hike overnight?

 

[Mesterh]

  On 02/03/2018 at 20:01, Mark Bolam said:

It would make sense in the long term for sure, but would the public entertain a 20% price hike overnight?

 

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VAT is value added tax. Do you reckon you add any value to your customers trees?

 

I think it would widen the gap between the tax payers and the non tax payers a bit too much. Plus I don't believe Mrs Miggins should pay a good chunk of her hard earned to the tax man if she doesn't have too. Less relevant for those doing mostly commercial.

It's never going to change though.

[Mick Dempsey]

The Americans call it Purchase Tax which is probably a better name for it.

[arbogrunt]

  On 02/03/2018 at 20:45, Mick Dempsey said:

The Americans call it Purchase Tax which is probably a better name for it.

It used to be called purchase tax here too, around 8%. When Ted Heath took an ailing UK into the EEC, VAT was one of their taxes we adopted...at the time, I think I'm correct in saying, was 12.5%. It's since gone up in stages to 20%. As we are leaving the EU, it would be nice if it was cut to 10%. What a boost to businesses and everyone's buying power that would be!. I doubt the Govt would turn away a big money spinner like 20% VAT though[emoji848]

[arbogrunt]

  On 02/03/2018 at 19:44, Mick Dempsey said:

VAT threshold in France around €32000, for what it’s worth.

I think they should actually raise the threshold to £150k....just read the comments on here...the current threshold is holding small business back...it you want to, you can always enter the system voluntarily....

[Mesterh]

  On 03/03/2018 at 12:50, arbogrunt said:

 

 

I think they should actually raise the threshold to £150k....just read the comments on here...the current threshold is holding small business back...it you want to, you can always enter the system voluntarily....

 

 

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Ditto.

 

 

[Ashley-Middleton]

  On 03/03/2018 at 20:55, Mesterh said:

Ditto.

 

 

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The issue is, in my opinion, that the threshold is based on turnover and not profit. Therefore depending on what industry you are in it will effect you differently. 

 

But I also agree with what has previously said that reducing the threshold will lead to a greater gap between those that comply and those that don't.