Possible VAT change

[nivending]

If there's a change to the vat limit so it's cumpulsory then what's that mean for us with a fixed vend of £1?

[nivending]

Meant to say the government is considering lowering the vat limit to £20k

[Snackmore]

Our £1 is inclusive of VAT so 83.3p per pot with commission relevant to this figure so 20% will be 16.66p per vend plus VAT

[nivending]

Sorry mate you've lost me

Currently if product is say 35p all in and commission 20p which means I get 45p how will this alter if theres20% vat?

And any legitimate tricks to lessen the tax burden

Thanks

[PabloV8Haggis]

For flecks sake....

Only just got over this coin malarkey....... now everyone is talking vat changes! Totally missed that one in last budget, totally took my eye of the ball!

All I see is interference after interference!

If this nonsense is true I can foresee many hiccups along the way.... as Trump would say "This is bad, really, really bad", these beans counters are after extra money to pay for Westminster repairs.

We pay 20% for our goods from suppliers, why not remove that payment and pay HMRC direct? We pay 20% commission in cash, how will that figure in the accounting process? Sure I give out receipts but as far as accounting goes, my accounting only works with he cash paid in at bank - I need to speak to them for advice as I pay them enough.

What a palaver

[PabloV8Haggis]

With all the elites siphoning £11+ trillion on offshore accounts should they not be picking on them first? Just about had enough of politicians and how they work, or should I say, not work!

We pay 20% tax, 12% nat ins and just about 20% on everything we purchase, who is fooling who?

They must have teams sitting around a desk thinking up hair brain ideas!

Bunch of cabbage dolls!

Rant over!

[OscarHarris]

I'm not sure there is any real truth in these particular rumours at the moment. The OTS are simply set to publish a review of VAT containing a number of recommendations towards simplification. It would appear that people are writing articles and speculating what some of these recommendations may include. So far I've read these could include raising the threshold to 500k or reducing it to 20k. Hell it could mean we have to wear adult baby nappies and keep 20% of our pound coins down our soiled pampers