Roughly the same with sales tax, it's just 1/3rd of that number.
> But buy a £50k Rolex and yes there is vat.
This is wildly ignorant of how less fortunate people live. They are hit with VAT on many daily expenses. Ignoring that fact and "tsk tsk"ing them for being frivolous is the [British] way.
I'd say it's very close to even odds that the other poster is correct to say "No vat on the majority of spending".
I'd also say that VAT should be reduced to encourage domestic spending and local growth, but I did leave the country for various reasons that can be simplified as "I do not expect the UK government to do the right thing".
For purposes of this discussion, I believe VAT is roughly uniform across the EU + UK and some other European jurisdictions. Correct me if I'm wrong, but I did update the comment to limit the critique to the UK.
Roughly the same with sales tax, it's just 1/3rd of that number.
> But buy a £50k Rolex and yes there is vat.
This is wildly ignorant of how less fortunate people live. They are hit with VAT on many daily expenses. Ignoring that fact and "tsk tsk"ing them for being frivolous is the [British] way.
Many daily expenses, yes. Before I left the UK, IIRC there was some campaign about tampons.
But "majority" just means half.
Between "The standard rate of VAT is 20 per cent, with around half of household expenditure subject to this rate." - https://obr.uk/forecasts-in-depth/tax-by-tax-spend-by-spend/...
And Figure 10.2 on page 6 of https://researchbriefings.files.parliament.uk/documents/SN05...
I'd say it's very close to even odds that the other poster is correct to say "No vat on the majority of spending".
I'd also say that VAT should be reduced to encourage domestic spending and local growth, but I did leave the country for various reasons that can be simplified as "I do not expect the UK government to do the right thing".
> the European way
There we go, the European monolith strikes again. Because the UK and Germany and Spain and Italy and Poland and Finland and and and are just so alike.
For purposes of this discussion, I believe VAT is roughly uniform across the EU + UK and some other European jurisdictions. Correct me if I'm wrong, but I did update the comment to limit the critique to the UK.