VAT ,... possibly the most invasive tax in Britain .

[Evans Electric]

So  it becomes necessary to create a downstairs toilet at Dekington Towers .    

First operation is to get the incoming electric supply & meter  moved  out to a meter box .    Also made some initial purchases  such as  Timber stud/  a drain gully / door / hinges / handle /   100mm soil pipes  /  extract fan . 

Nothing fitted yet ...electrics moved today  .

The Treasury is already better off to the tune of   £187.00  in VAT .  :C

 

[binky]

didn't you know you are an unpaid tax collector?

 

[Sharpend]

Jeez, I thought you said this was a new build or major refurb are t these tax exempt? 

 

[Evans Electric]

New housing  build is VAT  exempt .   This  is a disabled toilet  , I made  enquiries with a local firm that specialises in disabled alterations  & fittings etc  but its all tied up in red tape , as you may imagine .   Because this could also be used by able bodied people  they won't consider it .  

Also the gear I 've purchased won't be considered because they won't consider a DIY job ,   there  has to be a third party . 

 

[Blue Duck]

VAT ,... possibly the most invasive tax in Britain

Ever paid inheritance tax? that was painful!

 

[Evans Electric]

Another rip off  Ducky !!!

VAT is the best  one Ducky  ....imagine doing a job  , the bill is £100   + VAT   = £120   

But 20%  of the  £100  is to to paid in Income Tax  so as the unpaid tax collector  you are charging  the customer  Tax on the Tax  element  of the bill  .    

Surely the Income Tax should be deducted first , leaving £80    ...THEN   VAT added  , making  £96  :C

I was never much good at maths 

 

[ProDave]

New builds are exempt from VAT. I am collecting all my VAT receipts in a box file for that great day when the house is complete and I can claim all the VAT back.

 

[Andy™]

wont be VAT exempt by then

 

[binky]

Another rip off  Ducky !!!

VAT is the best  one Ducky  ....imagine doing a job  , the bill is £100   + VAT   = £120   

But 20%  of the  £100  is to to paid in Income Tax  so as the unpaid tax collector  you are charging  the customer  Tax on the Tax  element  of the bill  .    

Surely the Income Tax should be deducted first , leaving £80    ...THEN   VAT added  , making  £96  :C

I was never much good at maths 

This what I detest most about stealth taxes. Thatcher started this, and every government since has continued with the same policy to hide the real tax rates. IMHO it would be easier and more efficient to collect tax upfront from your wages, and therefore cheaper lowering the overall tax burden to us all. It would also reduce my work load and accountants fees!

 

[Sharpend]

It won’t be long before we go full circle and get given a ration book at the end of the week instead of what’s left after tax. We could do away with money altogether then!! 

 

[Murdoch]

Ever paid inheritance tax? that was painful!

Hum .......... inheritance tax - the threshold is £325K or £650K and you only pay above these figures - so you can inherit £325K and not pay a penny in tax, if you inherit £326K you will pay £400 in tax

I'd like £325K tax free please.

And people paying it either haven't had organised relatives ..... there are very legitimate ways of reducing the burden .................

 

[binky]

the loopholes are being shut down, even of you transfer the house to your kids 10 years before you snugg it, if the tax man thinks you did it on purpose to avoid paying IHT then thye can still persue for the money, as I undertsand it.

 

[Murdoch]

the loopholes are being shut down, even of you transfer the house to your kids 10 years before you snugg it, if the tax man thinks you did it on purpose to avoid paying IHT then thye can still persue for the money, as I undertsand it.

Best you speak to a financial advisor .......

 

[Evans Electric]

There must be many hidden taxes in this country ...as mentioned earlier ...        before VAT  there used to be Purchase tax but it was hardly ever referred to .  

The big taxes  must be :-  

PAYE

VAT

National Ins . 

Road Vehicle  Tax  

TV license  

 

[Zeespark]

VAT is an EU imposed tax, 75% of the 20% that we are charged goes into EU coughers, the other 25% is kept in the UK from what I have read.

Andy Guinness

 

[Blue Duck]

VAT is an EU imposed tax, 75% of the 20% that we are charged goes into EU coughers, the other 25% is kept in the UK from what I have read.

Andy Guinness

Daily Express???

 

[Zeespark]

One of them, a few others, but I stand corrected if wrong, which seems to be My case these days

Andy Guinness

 

[Sharpend]

There must be many hidden taxes in this country ...as mentioned earlier ...        before VAT  there used to be Purchase tax but it was hardly ever referred to .  

The big taxes  must be :-  

PAYE

VAT

National Ins . 

Road Vehicle  Tax  

TV license  

You forgot IPT insurance premium tax, it now stands at 12%, for what? Isn’t an insurance just a tax anyway? 

 

[Blue Duck]

https://fullfact.org/europe/does-uk-pay-fifth-vat-going-eu-budget/

https://www.theguardian.com/uk-news/ng-interactive/2017/nov/22/where-does-the-uk-government-get-its-money-and-what-does-it-spend-it-all-on

Bit sceptical about the second one...

 

[Blue Duck]

You forgot IPT insurance premium tax, it now stands at 12%, for what? Isn’t an insurance just a tax anyway? 

Owning and running a vehicle is a quagmire of Stealth taxes. Fuel tax, road tax, vat, insurance tax, parking which isn't a tax in itself but goes towards the coffers of "underfunded" local authorities.

Now were all hooked on the internal combustion engine expect more tax!