simon Posted February 1, 2006 Share Posted February 1, 2006 Well they should be VAT registered then. If they were they could claim the VAT back on their purchases. The only people this will hit are the end consumers to whom the VAT burden is eventually passed onto ie homeowners undertaking home improvements. Oh and crooked builders undertaking a bit of cash in hand work According to an item I heard on RTE1 - well the tax expert interviewed was of the opinion that, in general, the reduced rate of VAT was inflating the (pre VAT) cost of building work. The general argument (and I think I agree with it) is that the price of any job will increase so as to offset any advantage offered by tax breaks, grants, allowances etc The price of a job is what people will be prepared to pay. If builders find that they aren't getting enough work then they'll have to start competing on price. Link to comment Share on other sites More sharing options...
FCMR Posted February 1, 2006 Author Share Posted February 1, 2006 Heh, it's not what you know..... Link to comment Share on other sites More sharing options...
Gladys Posted February 1, 2006 Share Posted February 1, 2006 Last I heard on MR (evening Mandate) was that the reduced rate ended at the end of January (we know that) but that the EU were waiting for Poland to agree to it continuing until 2010. The EU was putting pressue on Poland to agree. So, technically, the rate is back up to 17.5%, but the strong expectation is that the reduced rate will be reintroduced. A case of watch this space still, unless a later announcement has been made! Link to comment Share on other sites More sharing options...
TheTool Posted February 1, 2006 Share Posted February 1, 2006 The Isle of man receives 1% of all the VAT collected in the UK every year which if i am right ends up being some £650 million pounds a year. This is the only thing that keeps the isle of man going. Sure the island will get a bit more money from the raise in the VAT but then also if the rate raises it also means people will put of spending so its a catch 22 situation. Just wait for the zero rate of tax, then you will all be moaning about stealth taxes. Link to comment Share on other sites More sharing options...
Ringwraith Posted February 2, 2006 Share Posted February 2, 2006 They are not f*****g Manx, they are cheap Polish labour taking the bread out of other peoples mouths I thought that local tradespeople loved 'foreigners'! Link to comment Share on other sites More sharing options...
GD4ELI Posted February 2, 2006 Share Posted February 2, 2006 They are not f*****g Manx, they are cheap Polish labour taking the bread out of other peoples mouths It's called competition, see also: tourism, mining and probably other areas. Link to comment Share on other sites More sharing options...
slinkydevil Posted February 2, 2006 Share Posted February 2, 2006 Vat Goes Up.... Vat rate on refurbished properties is to return to the old rate of17.5% as of today, this is due to Poland objecting to the lower rate. Wrong. Still at least you had a good bashing of Polish people for no reason FCMR. http://www.manxradio.com/readItem.aspx?stI...1&stCT=Business Link to comment Share on other sites More sharing options...
Tugger Posted February 2, 2006 Share Posted February 2, 2006 I didn't think unemployment was a serious problem on the island anyway. Am I wrong? Link to comment Share on other sites More sharing options...
FCMR Posted February 2, 2006 Author Share Posted February 2, 2006 Vat Goes Up.... Vat rate on refurbished properties is to return to the old rate of17.5% as of today, this is due to Poland objecting to the lower rate. Wrong. Still at least you had a good bashing of Polish people for no reason FCMR. http://www.manxradio.com/readItem.aspx?stI...1&stCT=Business Not wrong when I posted, Link to comment Share on other sites More sharing options...
Declan Posted February 2, 2006 Share Posted February 2, 2006 Poland had rejected a compromise deal agreed by the other 24 EU member states on which labour-intensive services should benefit from VAT breaks.Warsaw wanted the construction of new houses to be included on the list, which currently features such services as home renovations, haircutting, home-care and small repairs for items such as bicycles and shoes. So not only were you wrong, but you also unfairly maligned the noble Poles, who wanted to extend the exemption to the construction of new homes. Something I would have thought you would approve of. Anyway you complain about all the Poles over here, but remember that cuts both ways. They got Cheesemonster 2005 - so it looks like the Island won in the deal. Link to comment Share on other sites More sharing options...
molly Posted February 2, 2006 Share Posted February 2, 2006 Ain't new homes zero rated anyway? Link to comment Share on other sites More sharing options...
ans Posted February 3, 2006 Share Posted February 3, 2006 And that puts 12.5% on the price of your new windows, or are you going to pay cash to some dodgy git.Falls off my chair laughing Are you now sitting comfortably again? (Hint: I, and I suspect a whole lot of other people, knew this was happening. Surprised as someone who shouts loud about his profession didn't know it either. I guess only important people knew) Link to comment Share on other sites More sharing options...
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