VAT reduction
VAT reduction
Out of context: Reply #7
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- johnnnnyh0
No you don't have to at all. You just charge more for your service. This is the issue that it won't really give any money back to people in the form of less tax. If I charge £10 including VAT I send 17.5% (1.49) to the VAT man, if the rate reduces I send 15% (91p) to the VAt man so I pocket the 2.5% unless I reduce my charges - which in all honesty is unlikely particularly in retail.
- but I can see if a supplier to our business increases their hourly rate before tax... will be a bit obvious!!ribit