15% Vat

[Mike_B]

So how are they helping small businesses :( It's going to cost me 48p for every £100 invoiced.

They aren't. But it's only 'fair', of course... :tsktsk:

[Bazza]

Currently invoice £100, VAT takes it up to £117.50, you pay 13% of that, so VAT man gets £15.27

Now you'll invoice £100, VAT takes it up to £115, you pay 11.5% of that, so VAT man gets £13.25

With the former you get to keep £2.23, now you get to keep £1.75 - so you've lost out. Remember with flat rate VAT you pay the percentage on the gross, not the net.

Thanks Mike B. I'll double check my spreadsheet to see if I'm calculating on gross or net.

So how are they helping small businesses :( It's going to cost me 48p for every £100 invoiced.

I wonder if Poundland will now be called 97.9p land and will reduce prices?

effectively you will be buying in at less

[Bazza]

Don't know how it's going to work, but I can't see it making people buy houses which means i'm Fooked and will need a new job

its about confidence............trains going into london are not so packed with builders anymore...............why take a risk moving if your job may go..........

funnily enough the aftermarket industry is doing OK as people are looking to make changes to their car rather than chop it in

Your right about the confidence thing, the slump in the housing market should of worked in my favour with more landlords buying new houses to rent to people who can't get mortgages, but then the banks s :tsktsk: t themselves and no one could aford to buy anything as the deposits are too high, so even buy to let has gone down the crapper.

Anyone need a new carpet fitting BTW

with more people trying to rent out their properties the rents are now decreasing, thus putting off further investors