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tweetiepooh · 09-07-2020, 15:26

The drop in VAT works out at 12.5% (Current - £100 nett -> £120 gross, New is £100 -> £105, saves £15 which is 12.5% of £120.)
Wonder how many people expect 15% off the gross so £120 -> £102 and complain?

I remember when VAT was first placed on takeaways and many places raised their prices more than the change would warrant. I don't think I mind if places do raise prices a little at this time, the drop in VAT would allow them to do that and still lower the total price to customer and make a bit more profit. Hey both seller and buyer win.

09-07-2020, 15:26	#4509
tweetiepooh Virgin Media Employee Join Date: Sep 2005 Location: Winchester Services: Staff MyRates BB: VM 1Gb TV: VM XL Phone : VM XL Posts: 3,292	Re: Coronavirus The drop in VAT works out at 12.5% (Current - £100 nett -> £120 gross, New is £100 -> £105, saves £15 which is 12.5% of £120.) Wonder how many people expect 15% off the gross so £120 -> £102 and complain? I remember when VAT was first placed on takeaways and many places raised their prices more than the change would warrant. I don't think I mind if places do raise prices a little at this time, the drop in VAT would allow them to do that and still lower the total price to customer and make a bit more profit. Hey both seller and buyer win. __________________ I work for VMO2 but reply here in my own right. Any help or advice is made on a best-effort basis. No comments construe any obligation on VMO2 or its employees.