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"UK to adopt a less complex system of spending tax."
Just give it to the rich?
Enough here. Go to LLOY board.
Leafie, you may be waiting some time...
Nonsense Alfa. My turn. When the UK leave the EU there will be no obligation to operate VAT and I fully expect the UK to adopt a less complex system of spending tax.
Oops. Sorry for the double post.
Not where I was staying in Budapest!
Not where I was staying in Budapest!
Pizza and 2 beers in Hungary (27% VAT) about £8
Well 2 beers and 2 pizzas in Covent Garden was about £50 quid.. so no real difference..
"PS VAT in Switzerland is i believe 7.7% not an " EU" country."
And a small pizza in a street cafe is about £20 . . .
Pretty sure no country has to have VAT.
PS VAT in Switzerland is i believe 7.7% not an " EU" country.
EU minimum VAT rate is 15%. we just charge 20% Not sure there is a "world" Vat rate.
Well if we leave the European Union then everything that is imported would have to be subject to 20% VAT at minimum. Further duties could be applied but if they were then they could be challenged by, for example the World Trade Organisation court.
https://www.reuters.com/article/us-usa-trade-wto-judge/world-trades-top-court-close-to-breakdown-as-us-blocks-another-judge-idUSKCN1M621Y
VAT is a tax, sorry for not being explicit.
The VAT on some energy saving devices is charged at 5%, but not energy storage and that was where HMRC went wrong.
https://www.gov.uk/tax-on-shopping/energy-saving-products
The ECJ ruled that the full 20% was payable so HMRC have to raise it back to 20%.
It all seems to have been a bit of a wooly mess, start to finish:
https://www.solarpowerportal.co.uk/news/proposed_solar_and_storage_vat_hike_risks_setting_uk_decarbonisation_back_y
Same outcome. Outside of the EU the European Court of Justice would have no say.
I understand what you say that the UK could legislate differently.
No the European Court of Justice which is different to the European Parliament or the European Commission.
The UK did not interpret the taxation rules consistently and this is what the court ruled upon, that is what courts do. If you want to change the rules then you would need to pass legislation in the Parliament.
The "correct" VAT rate according to the EU.
Leafie sorry
Leafie, the UK tax authorities did not apply the correct tax rate and are now having to claw the money back, so not the EU's doing at all.
An opportunity to contact some of the feckless muppets that just got elected to the EU parl, to get them to press for EU wide reduction in taxation for energy saving equipment?
League is right. It was a directive from the EU Alfa. Apparently the UK Govt looking to reverse it as soon as we leave EU but I'll believe that when I see it.
Leafie, nonsense, UK Taxation is the responsibility of the UK government
EU's doing.
This change in the VAT ratings for renewables at home is a disastrous decision and should be challenged. If the UK is serious about reducing carbon emissions the low VAT rate should stay or even be reduced to zero to encourage every family and home owner to install renewable energy projects.
Sometimes the UK government make the most ridiculous and abstract decisions. We have a chance to lead the world not follow!
I would like the install a VRFB at home but this additional tax will make the ROI to long.