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howardg · 24-11-2008, 11:52 AM

Brian
Well irrespective of the rights and wrongs, today looks like being a day when VAT is slashed.
Personally, I think this could be very messy as whilst the man/woman in the street should benefit from reduced prices, it could mean alot of admin for many others. In fact the more I think about it this could be a nightmare. To be truly effective to stimulate consumer spending before Xmas, this probably needs to take effect from Dec 1st. Now think about all the computer systems, tills, stationery etc that needs to be changed. Also, there are loads of retailers on margin schemes and I can see these needing to be reworked.
Then of course, you have the problem that for many, the change could take place right in the middle of a VAT quarter causing plenty of problems. Additionally VAt on fuel scale charges would need reworking.

The more I look at this, it is a disaster waiting to happen.

24-11-2008, 11:52 AM	#6 (permalink)
howardg Junior Member Join Date: Nov 2008 Location: London Posts: 3	Re: Gordon Brown mulls VAT slash Brian Well irrespective of the rights and wrongs, today looks like being a day when VAT is slashed. Personally, I think this could be very messy as whilst the man/woman in the street should benefit from reduced prices, it could mean alot of admin for many others. In fact the more I think about it this could be a nightmare. To be truly effective to stimulate consumer spending before Xmas, this probably needs to take effect from Dec 1st. Now think about all the computer systems, tills, stationery etc that needs to be changed. Also, there are loads of retailers on margin schemes and I can see these needing to be reworked. Then of course, you have the problem that for many, the change could take place right in the middle of a VAT quarter causing plenty of problems. Additionally VAt on fuel scale charges would need reworking. The more I look at this, it is a disaster waiting to happen.