View Full Version : VAT?
anyone know wat VAT is? :O
03-07-2007, 02:30 AM
VAT stands for Value Added Tax in the UK. Currently it is 17.5%. It applies to most items, but there are some anomalies, for example - biscuits in the UK are VAT free, but chocolate biscuits are NOT VAT free becasue they are, amusingly, viewed as a 'luxury' by the Govt!
03-07-2007, 02:31 AM
Value Added Tax... http://forums.ubi.com/groupee_common/emoticons/icon_biggrin.gif
03-07-2007, 02:33 AM
at first i thought it was sumthin bad
03-07-2007, 02:33 AM
this is my LAST damn account grrr lolz
i wish theyd delete my old 1z
03-07-2007, 02:38 AM
VAT or value added tax, is basically another way for the British government to get money out of people who want to buy anything except what they class as the essentials of life.
So things like vegetables are VAT free, as are some clothes, but anything not expressly needed for survival has VAT on it.
03-07-2007, 02:53 AM
Originally posted by Realjambo:
VAT stands for Value Added Tax in the UK. Currently it is 17.5%. !
We have standard 22 % and very seldom lower one 7 % !
03-07-2007, 03:41 AM
This post remidns me why I love living in US now, no more VAT!
03-07-2007, 03:56 AM
Here in Denmark all goods and services contain VAT of 25 %! And the income tax is pretty high too!
That's pretty high compared to most other countries within the European Union and probably a lot compared to USA!
But compared to USA, we have free doctors and hospitals, and a minimum retirement pension for everybody!
Actually, I prefer paying a certain percentage of my income and preserve the benefits, we have now!
03-07-2007, 05:17 AM
Don't get me going....here are a list of the UK Taxes.
Income Tax (I have reached the 40 percent bracket, fortunate or not it is still a massive amount to pay)
VAT 17.5 per cent on just about everything.
National Insurance contributions......which allegedly pay for a free health service and retirement pension.....firstly you are normally seriously ill or dead by the time that the NHS gets round to seeing you and the retirement pension is less that a £100 per week.
Council Tax....a charge that is paid to the council for rubbish collection etc. EVERYONE now pays a minimum of £1000 per year regardless of income...so the poor pensioner on less than £100 per week has to pay the same.
Inheritance tax.....so you've worked hard all your life and want to leave some money to relatives....well the average house is worth about £180,000, the majority between £250,000 and £350,000, and the governemnt gets 40 percent of everything over £300,000 (1st April)
The boffins have calculated that from the 1st January to 11th May, of each year, you are working to pay your tax liability.
Roll on retirement, I will become an ex-pat, will find somewhere else to live...providing it has broadband connection it doesn't really matter.
Signed Tony Blair (He He)