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15 Reasons Why The Vat Rate Change May Backfire.

Adapted From http://iaindale.blogspot.com/2008/11/15-reasons-why-vat-reduction-may.html A reader from the above blog came up with 15 good reasons as to why the VAT rate change may hinder instead of help the economy. We have added some of our own analysis to the comments: 1. Deflationary for the next 12 months -- Inflation causes the cost of products and services to go up over time. This VAT rate change will cause prices to go down, possibly risking the growth of our economoy at a time wh

A Better Deal For Who? Companies And Stores Taking Advantage Of The Vat Rate Change

The idea behind the UK VAT rate change was to increase consumer spending by lowing prices on goods, thus letting their money go further. However, it would appear that this is not the case across the board. Legally, the government cannot force companies to reduce their prices. Many companies have kept their prices the same, and are simply pocketing the 2.5% difference caused by the VAT rate change, leaving consumers angry and worse off. Perhaps most shockingly, councils are not p

Coping With The Vat Rate Change - How To Calculate And Deduct The New Vat Rates

Adapted from an article by Tim C James Although most companies are now up to date with the VAT rate change, there are still many occasional traders and people who freelance for a second income, like yours truly who are having to calculate new prices after the VAT rate change. Implementing the change can be tricky - invoices have to be amended, spreadsheets and databases need to be changed, and things can get complicated! Traditionally, many people have used the fraction method t

Get Up-to-date News On The Vat Rate Change In Your Inbox!

VAT rate change are pleased to annouce the launch of our new service for anyone interested in the VAT rate change and its effects - the VAT rate change newsletter! The new newsletter will be sent weekly, containing articles, tips, information and news on the VAT rate change, and all related VAT cut subjects. Signing up couldn't be easier! Simply enter your Name and E-Mail address into the boxes below and you will recieve our very next issue! <h3><a href='/article/5-Has-the-VAT-Rate-Change-Failed-'>Has The Vat Rate Change Failed?</a></h3> <p class='description'> In an interview for the BBC, David Cameron has claimed that the VAT Rate Change has failed, saying "The VAT cut has been an unbelievable and expensive failure." When we look at the numbers, it's hard to say otherwise - even after that VAT rate change, the numbers of shoppers was down in December compared to previous years data. Compared to last year, retail footfall was down 3.1% in December from a year earlier, traditionally a busy period in the run up to Christmas. On the VAT </p> </div><div class='articleresult'> <h3><a href='/article/6-How-does-the-Government-recover-the-VAT-Rate-Change-Shortfall-'>How Does The Government Recover The Vat Rate Change Shortfall?</a></h3> <p class='description'> Obviously, in reducing the VAT rate from 17.5% to 15% for a year will create a shortfall in the government's finances for the year. There are a variety of predictions on exactly how much this will be, however, most agree that it will be somewhere in the region of £12.5 billion. The government will have to make this up in some way or another:  One option the Treasury has considered, but is now denying is to INCREASE the tax rate as the economy recovers. The plans seen on an Revenue </p> </div><div class='articleresult'> <h3><a href='/article/7-How-To-Deal-With-The-VAT-rate-change-tips-for-businesses'>How To Deal With The Vat Rate Change - Tips For Businesses</a></h3> <p class='description'> With the VAT rate change coming in on the first of December, companies across the country are scrambling to be ready in time. Here we go though some tips for companies trying to deal with the upcoming VAT rate change.  Companies that do not identify VAT on customer receipts can continue to work as they did before. As a company, you do not have to reduce your prices. Of course, the government is trying to get business to pass the savings on to customers, however, there is nothing t </p> </div><div class='articleresult'> <h3><a href='/article/8-Lower-UK-VAT-Rate-is-Attracting-Shoppers-from-Across-the-Border'>Lower Uk Vat Rate Is Attracting Shoppers From Across The Border</a></h3> <p class='description'> While it has been widely argued that the UK VAT rate change has not made a significant impact, shop owners in Northern Ireland have been experience an unexpected, but very positive side affect. Prompted by high tax rates, a strong Euro and a need to save money, many shoppers from the Republic of Ireland have been making the journey north to shop in the UK, where the VAT rate is only 15%, after being cut from 17.5% last year. The VAT rate in the Republic, by contrast, is 21.5% In the past year </p> </div><div class='articleresult'> <h3><a href='/article/9-Make-the-most-of-the-VAT-Rate-Change-Whos-offering-the-Price-Cut-'>Make The Most Of The Vat Rate Change - Whos Offering The Price Cut?</a></h3> <p class='description'> As we have covered in previous posts, there are many companies that have decided against offering the 2.5% VAT Rate Cut to it's customers. While 2.5% may not be a whole lot, the goverment was offering this VAT Rate Change to try and do something for the consumers, therefore it is only right that you get in on the act! Here, we are listing some of the stores, websites and companies that are passing on the cut in VAT to it's customers. If you want to be added to this list, please post a comment </p> </div><div class='articleresult'> <h3><a href='/article/10-Preparing-for-the-next-UK-VAT-Rate-Change'>Preparing For The (next) Uk Vat Rate Change</a></h3> <p class='description'> Now that most companies have put the final implamentation of the new UK VAT rate in place (rather than the emergancy systems that were in use straight after the UK VAT rate change came into affect), we can now look forward to doing it all over again - in 11 months time!! The new UK VAT rate of 15% is only in place until the 31st of December 2009, which means, in less than a year, all the companies that spent thousands of pounds implamenting the VAT rate change last December have to go through </p> </div><div class='articleresult'> <h3><a href='/article/11-Should-the-Republic-of-Ireland-Reduce-VAT-'>Should The Republic Of Ireland Reduce Vat?</a></h3> <p class='description'> News is emerging that concerned border towns in Ireland are calling for Finance minister Brian Lenihan to cut VAT by 6% from 21% to 15% in line with the UK's announced VAT rate change. Irish towns that border with the UK run the risk of shoppers deciding to take advantage of the strong exchange rate and the lower VAT rate in the UK and doing their christmas shopping across the border.  Lenihan has admitted that the large numbers of Republican shoppers travelling north to shop in N </p> </div><div class='articleresult'> <h3><a href='/article/12-Standard-VAT-Rates-on-All-Goods-Could-Cut-Other-Taxes-by-11bn-'>Standard Vat Rates On All Goods 'could Cut Other Taxes By £11bn'.</a></h3> <p class='description'> If a VAT rate change was made so that all items, including food and children's clothing were the standard 17.5%, it would raise enough revenue to increase benefits for poorer families and cut other taxes by over £11bn, a leading economic think tank says today. The pre vat rate change 17.5% duty is around the average for industrial countries but Britain applies zero rates more extensively than most other countries, according to the Institute for Fiscal Studies. Residential housing, childre </p> </div><div class='articleresult'> <h3><a href='/article/13-UK-VAT-Rate-Changes'>Uk Vat Rate Changes</a></h3> <p class='description'> The Chancellor announced in his Pre-Budget Report that, on the 1st of December, the standard VAT rate will reduce from 17.5% to 15% until the end of next year. For consumers, this means that the providers of any standard rate VAT products and services should charge the new rate of VAT from this date. Only standard-rated sales are affected. There are no changes to sales that are zero-rated or reduced-rated for VAT. Similarly, there are no changes to the VAT exemptions. </p> </div><div class='articleresult'> <h3><a href='/article/14-VAT-Rate-Change-Comes-Early'>Vat Rate Change Comes Early</a></h3> <p class='description'> In a bid to attract customers over the weekend, some of the largest companies in the UK are offering 'VAT rate cut' prices already, and many more will be doing the same in the days leading up to the official rate change.  Currys, PC World and Dixons started passing the cut on as soon as it was announced, in a bid to attract more customers to their stores and websites. A spokesman for the parent company said: "We felt it was right thing to do, even though it was complicated. We al </p> </div><div class='articleresult'> <h3><a href='/article/15-VAT-Rate-Cut-Comes-into-Force'>Vat Rate Cut Comes Into Force</a></h3> <p class='description'> While the VAT Rate Change came into force today, many companies and stores were still racing to get their systems updated and the prices in line. Early signs for the companies that did get it done in time however, were positive.  Even some major department stores were facing struggles, and some stores will not be bringing in the reduced prices until Wednesday. On the other hand, many companies have already introduced the new prices. Initial signs suggest that there has been a </p> </div><div class='articleresult'> <h3><a href='/article/16-What-Will-Things-Cost-After-The-VAT-Rate-Change-'>What Will Things Cost After The Vat Rate Change?</a></h3> <p class='description'> With the VAT Rate changing from 17.5% to 15%, suppliers are supposed to pass on the reduced VAT rate to you, the consumer on all standard VAT goods. So how much should things cost now?  Full rate 17.5% VAT items thought to be changing to 15% <strong>*Ford Mondeo</strong> Current price: £15,995; new price: £15,175.26 Saving: £819.74 <strong>*Big Mac</strong> meal Current price: £3.79; new price: £3.60 Saving: 19p <b>Article Continues Below:</b> <script type="text/j </p> </div><div class='articleresult'> <h3><a href='/article/17-Why-The-VAT-Rate-Change-is-a-Future-Scam-Based-On-An-Empty-Promise'>Why The Vat Rate Change Is A Future Scam Based On An Empty Promise</a></h3> <p class='description'> Since the UK VAT rate change was announced on Monday, thousands of people from financial experts to the average bystander have chipped in their opinions. Many of the opinions have been cautious, and some have been just plain negative, and for good reason...  <strong>Benefit To Low-Income Families</strong> One of the key claims surrounding this VAT rate cut is that it will benefit low income families. What the government seem to have failed to realise is that by its very nature, VAT </p> </div> <script type="text/javascript"> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> </div> <div id="colThree"> <h2>Tag Cloud</h2> <small><a href='/tag/Tax'>Tax</a></small>    <big><big><big><big><big><small><a href='/tag/VAT Rate Change'>VAT Rate Change</a></small></big></big></big></big></big>    <small><a href='/tag/vat rate'>vat rate</a></small>    <big><small><a href='/tag/Price Cuts'>Price Cuts</a></small></big>    <big><big><big><small><a href='/tag/Business'>Business</a></small></big></big></big>    <big><big><small><a href='/tag/Criticisms'>Criticisms</a></small></big></big>    <big><big><big><small><a href='/tag/consumers'>consumers</a></small></big></big></big>    <big><big><small><a href='/tag/Government'>Government</a></small></big></big>    <big><small><a href='/tag/Prices'>Prices</a></small></big>    <a href='/tag/Tesco'>Tesco</a>    <script type="text/javascript"> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> </div> <div style="clear: both;"> </div> </div> <div class='footer'> </div> <script type="text/javascript"> var gaJsHost = (("https:" == document.location.protocol) ? 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