John Wright Posted May 3, 2022 Share Posted May 3, 2022 44 minutes ago, The Phantom said: I don't think the IOM can alter its VAT rates anyway unless the UK does, due to the shared purse arrangement. We have some leeway. So, I think, in hospitality, accommodation is 5% but not the supply of food or drink. Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted May 3, 2022 Share Posted May 3, 2022 1 hour ago, Passing Time said: Drop the VAT rate for hospitality to 5% that way the businesses get to keep more of what they earn. It's been the perfect storm so far with price rises, not much the government can do about that. They can and should look at VAT Ashford would go faint at the thought of VAT reduction. That's what helps to pay for our PS legions and they'll be the last to suffer, as it was during Covid lockdowns. 3 Quote Link to comment Share on other sites More sharing options...
Passing Time Posted May 3, 2022 Share Posted May 3, 2022 3 hours ago, John Wright said: Except most of what a butcher ( or Ramsey Bakery ) supplies will be zero rated. And if VAT is reduced that should be passed on to consumers, not kept by retailers or the service industries. It's a catch 22 John, when VAT was 5% that is all we charged - when it rose to 12.5% we raised our prices slightly and were met with groans from customers. Even though it is well publicised that is now 20% elements of the general public would not go out as often. We have noticed this trend. Quote Link to comment Share on other sites More sharing options...
Kopek Posted May 3, 2022 Share Posted May 3, 2022 Quite, if people are buying their meat i Tesco rather than their local butcher that will affect the viability of the butcher. However,that is a trend not the cost of living crisis?? If you don't want to lose your butcher, spend there not Tesco!!! 1 Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted May 4, 2022 Share Posted May 4, 2022 8 hours ago, Kopek said: Quite, if people are buying their meat i Tesco rather than their local butcher that will affect the viability of the butcher. However,that is a trend not the cost of living crisis?? If you don't want to lose your butcher, spend there not Tesco!!! Fine if you've got anything to spend? If you're on a tight budget now, and lots will be, you're going to go for the cheaper option out of necessity rather than choice? Plus there's the convenience factor of picking up everything under one roof? 1 Quote Link to comment Share on other sites More sharing options...
Bandits Posted May 4, 2022 Share Posted May 4, 2022 (edited) 16 hours ago, Kopek said: I'm not sure a Butchers could be so affected by the 'Cost of Living' crisis that it has to close? Could be the level of business was not sustainable??? 1. Less spending on higher value products as money tightens 2. Shipping and produce costs both up 3. Less discretionary spend from customers 4. All your fuel bills have gone up. 5. Your staff wages have gone up. You would be surprised how narrow the margins are for a lot of local retail businesses. There was an article yesterday about how chicken is now rising to a price not far off that of beef. if you were taking a £20K divi out of the business at the end of the year you are lucky for some IOM retail businesses so it doesn’t take much for the whole thing not to be worth the effort. Edited May 4, 2022 by Bandits Quote Link to comment Share on other sites More sharing options...
jackwhite Posted May 4, 2022 Share Posted May 4, 2022 On 4/25/2022 at 11:07 AM, Annoymouse said: Well they shouldn’t be allowed to put covenants on them, the alcohol licence application already has measures to stop unfair competition, the covenant is no more than taking their ball away and saying if they can’t play there, then no one can. They don’t seem to understand that people don’t want to be in their pubs, drinking their beer because a lot of people don’t support their business model and so vote with their feet. Infact going one step further they should be forced to maintain the building inside and out, they’ll rinse 30k on a refurb that nobody wants but leave another pub with an uninhabitable living accommodation with damp/mould from leaky roofs etc, it doesn’t make any sense. If the brewery ever find themselves in financial difficulties I hope to god the Government never bail them out, I can’t see it ever happening for as long as they have Spar shops keeping them afloat. Ramsey bakery tried to wipe out all the independent bakeries and look what happened, the likes of H&B shouldn’t be allowed to try and do the same with pubs/restaurants. New licensing laws will put a stop to it. When they'll be actually introduced, well who knows. Quote Link to comment Share on other sites More sharing options...
Banker Posted May 4, 2022 Share Posted May 4, 2022 14 hours ago, Passing Time said: It's a catch 22 John, when VAT was 5% that is all we charged - when it rose to 12.5% we raised our prices slightly and were met with groans from customers. Even though it is well publicised that is now 20% elements of the general public would not go out as often. We have noticed this trend. You may have only charged 5% but lots of businesses did not reduce prices & kept extra VAT element for business so now VAT has returned to normal they have not had to amend prices as much 1 Quote Link to comment Share on other sites More sharing options...
hissingsid Posted May 4, 2022 Share Posted May 4, 2022 Where is Harding’s ? Quote Link to comment Share on other sites More sharing options...
hissingsid Posted May 4, 2022 Share Posted May 4, 2022 Just been told it is in Onchan . Quote Link to comment Share on other sites More sharing options...
kevster Posted May 4, 2022 Share Posted May 4, 2022 31 minutes ago, hissingsid said: Just been told it is in Onchan . Top of summerhill - opposite the petrol station Quote Link to comment Share on other sites More sharing options...
0bserver Posted May 4, 2022 Share Posted May 4, 2022 1 hour ago, hissingsid said: Where is Harding’s ? It was one of the few redeeming features of Onchan. Quote Link to comment Share on other sites More sharing options...
Banker Posted May 4, 2022 Share Posted May 4, 2022 7 minutes ago, 0bserver said: It was one of the few redeeming features of Onchan. Try & use the one in willaston, excellent butchers who will cut meats etc to size & cut you want. Home cooked meats, pies etc 3 Quote Link to comment Share on other sites More sharing options...
Passing Time Posted May 4, 2022 Share Posted May 4, 2022 18 minutes ago, 0bserver said: It was one of the few redeeming features of Onchan. That and of course you not living in Onchan... 3 Quote Link to comment Share on other sites More sharing options...
0bserver Posted May 4, 2022 Share Posted May 4, 2022 4 minutes ago, Passing Time said: That and of course you not living in Onchan... Well with you living there people are scrambling to sell up... 1 Quote Link to comment Share on other sites More sharing options...
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