VAT

[Barman]

Remove Income Tax and bung it all on VAT... job done...as simple as... and suppliers even collect it for you...

May I refer the Hon Member to post #9 above? 

I have already reported you to the tax avoiders hot line... 

[Miss Demeanour]

I'd vote for any of the above that resulted in my retaining some choice in the matter, i.e. not Income tax.

Of course what one should do, hypothetically ahem  , is to become vat registered on the flat rate scheme, trade up to no more than ?150K p.a., apply the vat of say, 20% (?30K) and under the terms of the scheme only return 10% p.a. to HMRC (?15K). As for what happens to the remaining ?15K one couldn't possibly say.

 

You are veering towards Growler's mathmatically impossible thread that hurts my head immensely 

[Pastis]

Remove Income Tax and bung it all on VAT... job done...as simple as... and suppliers even collect it for you...

May I refer the Hon Member to post #9 above? 

I have already reported you to the tax avoiders hot line... 

IIRC Avoidance is within the roolz, evasion is not 

http://www.hmrc.gov.uk/vat/start/schemes/flat-rate.htm

[Nick]

 

[Barman]

 

[Nick]

BM is a tax exile 

[Barman]

BM is a tax exile 

 

[tel]

If I remember correctly, VAT was "invented" to replace income tax, ie you only paid tax on what you spent, not what you earned. (there again income tax was only a temporary tax)
This is why there were different rates, basic and luxury.
Think it was a Frog who came up with the idea, economics/commerce studies were a long time ago.

[Darwins Selection]

Theer is something quite different that they could and may do, though I have heard no mention of it, which is to cut the block grant to Local Authorities and tell them to raise their own dosh via Council Tax. That would concentrate some minds.

I would very much favour that approach. 

[Miss Demeanour]

 
 

[Darwins Selection]

 

See: Council tax, rateable values etc for agricultural land and buildings