Sentences with phrase «cent in vat»

However, without a fiscal stimulus, such as a reduction to five per cent in VAT for all Green Deal compliant work, Green Deal is unlikely to be successful.

Not exact matches

The leader of the Liberal Democrats said the cut in the rate of VAT to 15 per cent, which cost taxpayers # 12.5 billion, should have been used to fund a green investment programme instead.

Taking the fiscal credibility point first, the cost to the Exchequer of changing the standard rate of VAT by one per cent is approximately # 5bn a year (in other words, reducing the rate from 20 per cent to its previous 17.5 per cent would cost in the region of # 12.5 bn).

A recent YouGov survey showed that 48 per cent of those who voted Lib Dem were less inclined to do so again as a direct result of the rise in VAT.

The Conservatives have seen a double - digit lead over Labour in the polls being dramatically cut since the bailout of banks by the government in October, the announcement of a # 20 billion fiscal stimulus by the prime minister and a 2.5 per cent cut in the rate of VAT.

Research, commissioned by the FMB, shows that cutting VAT from 20 % to five per cent for all housing repair, maintenance and improvement work would provide a total economic stimulus in the region of # 1.7 billion in 2012 alone, rising to over # 20 billion by 2020.

It also one of the biggest revenue earners for the Government, with VAT raising in 2015 - 16 about # 116 billion - more than over 20 per cent of government revenue.

But a six - month extension of the 15 per cent VAT rate would be clever - it will not cost much if it helps sustain consumer spending and will in any case have no significant fiscal cost beyond 2010,» Mr McWilliams added.

Push for European - wide agreement to a lower rate of VAT, in Britain of five per cent, for the most energy efficient products.

He scored a hit with his attacks on this week's rise in VAT to 20 per cent, dubbing it «the wrong tax at the wrong time».

Under Labour's plans 95 per cent of taxpayers will be guaranteed no increase in their income tax contributions and everyone will be protected from any increase in personal National Insurance Contributions and VAT.

FSB's director general Richard Diment said VAT should be cut to five per cent for property refurbishment in a bid to create extra demand for energy efficient improvements.

VAT will increase to 20 per cent from 4 January next year, with the chancellor insisting that the move was «unavoidable» in dealing with the «years of debt and spending» under Labour.

Its National Chairman, John Walker, said: «The increase in VAT to 20 per cent will however, hurt small firms who will have to pass the increase on to their customers, unlike big business which can absorb the cost.»

Finally, it has been revealed in an official Treasury document signed off by a Treasury Minister that there is a secret tax bombshell to increase VAT to 18.5 per cent.»

Nothing has changed since then to necessitate a sharp rise in VAT to 20 per cent (as Will Straw points out, this was far from an «unavoidable» tax increase).

As the Fabian Society's Tim Horton has noted, while the richest 10 per cent pay # 1 in every # 25 in VAT, the poorest 10 per cent pay # 1 in every # 7.

The plans we set out involved around 80 per cent of the work coming from spending restraint and about 20 per cent from tax increases... The tax increases are already in place; the plans do not include an increase in VAT.

28 per cent - the new rate of capital gains tax for higher rate tax payers 25 per cent - budget cuts facing most government departments 20 per cent - the new VAT rate from 4 January 2011 14 times George Osborne said the word word cut in his budget speech

Pressure was growing on Gordon Brown to reverse the 2.5 per cent cut in VAT, which will cost # 12.5 billion, and use the money to cut income tax or national insurance.

Since the election, it has also emerged that the former chancellor Alistair Darling wanted to raise VAT to 19 per cent, a single percentage point lower than the rate that will be introduced in January 2011.

In January next year the VAT sales tax will rise from 17.5 per cent to 20 per cent - despite Conservative claims before the general election that they had no plans to raise it.

The 17.5 per cent rate of VAT has been in place since 1991, except for the temporary reduction to 15 per cent introduced by Alistair Darling as the last Labour government sought to tackle the recession.

In the early 1980s the Tories put up VAT from 8 per cent to 15 per cent and it rose again to 17.5 per cent in the 1990In the early 1980s the Tories put up VAT from 8 per cent to 15 per cent and it rose again to 17.5 per cent in the 1990in the 1990s.

But David Cameron was working for Norman Lamont back in 1993 when he tried to do just that and announce a phased increase of VAT on domestic fuel from zero to 17.5 per cent.

Prices in Germany are 88,038 euro for the 911 Carrera and 102,436 euro for the 911 Carrera S, including 19 per cent VAT and market - specific equipment.

The Cabriolet retails in the German market at Euro 184.546, again including 19 per cent VAT and local equipment / specifications (base price Euro 154,900).

In October 2010 HM Revenue & Customs described the process of supplying «text by electronic transmission» via the internet - such as Amazon flogging ebooks on its Kindle Store - as standard - rated (the 20 per cent VAT rate).

The Conservatives» proposals to enable SMEs to delay their quarterly VAT payments for up to six months, to reduce employers» national insurance contributions by one per cent for up to six months (for those businesses with fewer than five employees), to cut corporation tax from 28p to 25p and to reverse the planned increase in the small companies» rate from 20p to 22p are encouraging.