VAT increase to 20%

[temi]

The VAT is being increased to 20% from January 2011, what are you thoughts, do you think this will slow down business and sales?


Thanks

[gkd_uk]

Not really sure. It may be a little more difficult for the smaller businesses

[sueque]

i think it will end up hurting the economy. if you raise taxes then business goes elsewhere. it's a bad idea in my humble opinion.

[Paul-UKWSD]

i think it will end up hurting the economy. if you raise taxes then business goes elsewhere. it's a bad idea in my humble opinion.

I think it's a good thing, it will help raise the much needed capital in a step to pay off the huge debt the UK. The consumer won't be paying that much extra at only 2.5% more so I don't think it will affect public spending, I hope not anyway ;)

As far as business and company owners, providing your VAT registered then it won't make a different regarding your costs.

[Aquarezz]

It's still less than Belgian's BTW :D

[ovidiuu]

In Romania from 01 July 2010 we have the VAT increase from 19% to 24%

Ovi

[sueque]

I think it's a good thing, it will help raise the much needed capital in a step to pay off the huge debt the UK. The consumer won't be paying that much extra at only 2.5% more so I don't think it will affect public spending, I hope not anyway ;)

As far as business and company owners, providing your VAT registered then it won't make a different regarding your costs.

Yes, those are good points :) I guess we'll see!

[simpleservers]

the extra 2.5% isnt really going to matter that much, but at the same time, i really think they should try doing something helpfull, with the extra money, otherwise dont take it.

[ovidiuu]

Yes, indeed, but... that 2.5 % or in our case in Romania 5% this will reflect in much higher increase in final prices to the consumers. Gas price increase, or even electricity, can bring to increase in the price of bred, ecc, ecc