"Pasty tax"

[Silent Hunter]

Bakers aren't happy

[JML]

Damn EU. Things they come up with.

[copenhagen]

Preparing it gives it added value therefore subject to VAT. As usual the tabloids have bent it to mean Osborne says "let them eat cold pasties." Tabloid cretins.

[Silent Hunter]

Originally Posted by JML

Damn EU. Things they come up with.

Not EU - it's the Treasury.

[Andy H]

Its a non-story but it will fill a few column inches anyway.

You ask any Accountant that have Takeaways on there books, with a seating area inside, and they will inform you of all the 'tricks' they use to manipulate the VAT figures. Next time your in your local takeaway, just make a mental note of how many don't have a working till roll or leave the cash draw slightly ajar, so not every sale goes 'through' the till/books.

When the staff at McDonalds ask u if your staying inside, there doing so to record accurate VAT figures and not because their interested or doing some in-house research.

Regards

[dutched]

Originally Posted by Andy H

Its a non-story but it will fill a few column inches anyway.

You ask any Accountant that have Takeaways on there books, with a seating area inside, and they will inform you of all the 'tricks' they use to manipulate the VAT figures. Next time your in your local takeaway, just make a mental note of how many don't have a working till roll or leave the cash draw slightly ajar, so not every sale goes 'through' the till/books.

When the staff at McDonalds ask u if your staying inside, there doing so to record accurate VAT figures and not because their interested or doing some in-house research.

Regards

I don't know why I read it. It is a non story.

Ed.

[Kendrick]

Originally Posted by Andy H

Its a non-story but it will fill a few column inches anyway.

You ask any Accountant that have Takeaways on there books, with a seating area inside, and they will inform you of all the 'tricks' they use to manipulate the VAT figures. Next time your in your local takeaway, just make a mental note of how many don't have a working till roll or leave the cash draw slightly ajar, so not every sale goes 'through' the till/books.

When the staff at McDonalds ask u if your staying inside, there doing so to record accurate VAT figures and not because their interested or doing some in-house research.

Regards

VAT is due on hot foods whether or not it is eaten on the premises. Pasty Tax, Granny Tax, Caravan Tax and even Catherdal Tax are the result of a poorly thought out budget in order to pay for a tax cut for the rich.

[Silent Hunter]

Originally Posted by Kendrick

VAT is due on hot foods whether or not it is eaten on the premises. Pasty Tax, Granny Tax, Caravan Tax and even Catherdal Tax are the result of a poorly thought out budget in order to pay for a tax cut for the rich.

However, unlike a burger, I can eat my sausage roll cold.

[copenhagen]

Originally Posted by Kendrick

VAT is due on hot foods whether or not it is eaten on the premises. Pasty Tax, Granny Tax, Caravan Tax and even Catherdal Tax are the result of a poorly thought out budget in order to pay for a tax cut for the rich.

Its not a tax cut in the true sense of the word, its just removing a pre election booby trap left by Gordon Brown. Its not like its been around for years. It didnt raise us any money and it makes us more competitive against our global competitors in terms of attracting investors. A 50% tax rate is nothing short of legalised theft anyway, bit like IHT.

[Hop]

Pasty Tax, Granny Tax, Caravan Tax and even Catherdal Tax are the result of a poorly thought out budget in order to pay for a tax cut for the rich.

Taxes on the rich are going up thanks to various anti-avoidance measures.

We are paying more tax to clear up the enormous deficit left behind by the last government (a structural deficit of 7% of GDP according to the treasury in 2008). (A structural deficit is an underlying figure not affected by recession and boom)

The 50% tax rate was never about raising money. High earners make additional efforts to avoid taxes when they go up. Even Ken Livingstone managed to get out of paying top rate income tax by spreading his money between himself and his wife, and by spreading payments over years.

The 50% rate was designed by Labour to be as damaging as possible (it gave the UK the highest rate of income tax in the G20), and as damaging as possible to the Tories when they reduced it. That's why it came in to force in April 2010, 13 years after Labour came to power, and 1 month before they handed over to the Tories.

However, unlike a burger, I can eat my sausage roll cold.

You can eat a sausage roll cold if you bought it from a chip shop, too. The difference was that the large baker or supermarket sold it vat free, the chip shop had to charge vat.