By using Apprenticeforums services you agree to our Cookies Use and Data Transfer outside the EU.
We and our partners operate globally and use cookies, including for analytics, personalisation, ads and Newsletters.

  • Join our UK Small business Forum

    Helping business owners with every day advice, tips and discussions with likeminded business owners. Become apart of a community surrounded by level headed business folk from around the UK


    Join us!

The Pre Budget

TomB

TomB

New Member
So anyone watching this?

Hmm giving with one hand and taking with another?

What do we all think?
 
TomB

TomB

New Member
I particularly like how he said he would cut VAT by 2.5% and then 2 min later he said he would be raising the duty on fuel, alcohol and cigarettes after atributing the rising fuel costs to some of the problem.

I thought Mister Darling, was going to cry when the Shadow Chancellor was shouting at him :D

Its like watching children fighting at the playground :lol:
 
TomB

TomB

New Member
What about the measures for business to spread their tax and VAT bills out over longer periods, not set by the timescales, but for as long as they need?
 
What about the measures for business to spread their tax and VAT bills out over longer periods, not set by the timescales, but for as long as they need?

The devil will be in the detail. We divert VAT to a holding account along with an allowance for tax as the cash comes in... I can see how it'll benefit some folk. But it makes no odds to me.

I particularly like how he said he would cut VAT by 2.5% and then 2 min later he said he would be raising the duty on fuel, alcohol and cigarettes after atributing the rising fuel costs to some of the problem.

This is where the obscene dishonesty of what's being done reveals itself. Fuel has been a major factor in generating the current crisis. For better or worse we live in a transport dependent economy. and the cost of road fuel at the pumps affects every product and service you can buy.

IF there's any benefit in the VAT rate being cut. (and let's face it; it's a trivial cut) it will be offset by the burden of fuel duty; and that will affect even non-drivers.

I view today's news as reflecting Gordon Brown and Co's cynical contempt for the intelligence and well-being of the average working person in the street.
 
Scottish Business Owner

Scottish Business Owner

New Member
The big headline grabber today was of course the cut in VAT to 15%. Now lets be honest from a consumer perspective this is hardly going to make a huge difference and make you rush out and spend spend spend. What seems to have been missed in all of this is the cost to businesses of changing systems etc to relect this rate, oh and by the way you only have a week to do it!

I thought the main issue here was the availability of credit and finance but I dont see much in what has been announced today to actually solve any of these issues. The markets seem to have reacted quite well to what has been well leaked info to the media but I cant help thinking it will be short lived. These guys are supposedly clever people and I really hope what they have done will pay off but I have my doubts and I certainly wont be going out and splashing the cash.
 
Top