20% VAT how does this affect arb

[Amelanchier]

Sorry it wasn't depreciation, it was allowances...

 

"2.75 From April 2012, the rate of capital allowances on the general pool of plant and machinery will be reduced from 20 per cent to 18 per cent, and the rate of allowance on the special rate pool of plant and machinery will be reduced from 10 per cent to 8 per cent."

[Gareth Dalzell]

Yes, I found that out with a tax bill 4 times higher than normal

 

A yes that would be to bulk up the Civil Servant pension pot - its running rather low - just don't start me on this one (and then there's their sick pay, bonuses, christmas shopping day...........)

At least their pay is frozen for 2 years over £21k, but I,m sure they'll find another way to top it up!

[Johny Walker]

could have been worse,its not going to break the bank now is it capital gains was forcast back up to 40% ,but only went to 28% which will be good for some folk

[MattyF]

last thing private customers want to hear is there is VAT on top, stay out of that game for as long as possible..hire purchase your trucks chippers and what ever else and it ofsets your tax but make sure you have the work to pay for it..

[arbaholic]

Id do anything to avoid becoming vat registered. I no a few people that seem to get by fine with it but if the bulk of your work is private then surely you`ll lose alot to people who arent vat registered and cheaper? that`s my thoughts.

[DN22 Gardening]

looks like we'll be splitting our business into 2 to avoid vat.

 

the wife'll be running the gardening side

and i'll run the arb side

 

yummy

 

lol

[veners]

you can bet your life that 20% is here to stay, we saw an increase in domestic work when it was at 15%. I think it is a psychological thing for the private clients, we had people almost panic ordering when they heard vat was going back up to 17.5%