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Vat


hissingsid

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10 minutes ago, Happier diner said:

Doesn't NI, VAT, Income Tax, other taxes (like road tax) all just go into one big pot?

Governments just divide it up accordingly to spend it. Or does it go into other reserved areas earmarked only for that purpose?

Its a question not a statement before anyone jumps on me

No, in the Isle of Man there's a separate NI Fund, with various accounts, though as usual the picture is complicated by the dozens of mysteriously named slush funds that Treasury operates.

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5 hours ago, Dirty Buggane said:

 

But not to worry he (Elinson) knows his way to the reserves. Till one day the cupboard will be bare.

Is there much in it now?

Whilst many reserves have positive balances the Net Total of all Reserves, Funds, Revenue Account etc (ie the bottom half of the Balance sheet) is minus £566m - see audited accounts 31/3/2021.

This includes the NI fund.

 

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