Tags Tagged With Income tax
How Does The Government Recover The Vat Rate Change Shortfall?
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
Why The Vat Rate Change Is A Future Scam Based On An Empty Promise
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... Benefit To Low-Income Families 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