{"id":225,"date":"2011-01-18T08:00:37","date_gmt":"2011-01-18T08:00:37","guid":{"rendered":"http:\/\/my-brains.co.uk\/jackross\/blog\/?p=225"},"modified":"2011-01-18T08:00:37","modified_gmt":"2011-01-18T08:00:37","slug":"new-vat-rate-could-be-a-long-term-measure","status":"publish","type":"post","link":"https:\/\/my-brains.co.uk\/jackross\/new-vat-rate-could-be-a-long-term-measure\/","title":{"rendered":"New VAT rate could be a long-term measure"},"content":{"rendered":"

The new standard rate of VAT could well become a permanent feature of the\u00a0business landscape. The rate rose from 17.5 per cent to 20 per cent on 4\u00a0January.<\/p>\n

In a press interview given late last year, the Chancellor, George Osborne\u00a0suggested that the rise may be here for a good while. Mr Osborne told The\u00a0Spectator magazine: “The VAT rise is not temporary. It can’t be. We are\u00a0talking about a totally different scale of revenue, and the VAT rise is a\u00a0structural change to the tax system to deal with a structural deficit.<\/p>\n

“Once we can bring some stability to the public finances, we can look at\u00a0reducing the tax burden on people. But it is a complete mirage to cut taxes\u00a0one year, then to have to borrow the money and put up taxes later to have to\u00a0pay for that borrowing.”<\/p>\n

But the Chancellor also hinted that the new 50 per cent top rate for income\u00a0tax would not be a long-term measure.<\/p>\n

A recent survey suggested that many businesses are finding that, along with\u00a0payroll management, VAT is becoming one of the more onerous admin burdens\u00a0they face. We are more than happy to provide all the support your business\u00a0requires when it come to dealing with the complexities of the tax system.<\/p>\n

For more information contact Bernadette Gibson at\u00a0bernadette@jackross.co.uk<\/a> or visit our\u00a0Contact Page<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new standard rate of VAT could well become a permanent feature of the\u00a0business landscape. The rate rose from 17.5 per cent to 20 per cent on 4\u00a0January. In a press interview given late last year, the Chancellor, George Osborne\u00a0suggested that the rise may be here for a good while. Mr Osborne told The\u00a0Spectator magazine:… Read More »New VAT rate could be a long-term measure<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","neve_meta_reading_time":""},"categories":[3,6],"tags":[],"yoast_head":"\nNew VAT rate could be a long-term measure - Manchester Chartered Accountants<\/title>\n<meta name=\"description\" content=\"The new standard rate of VAT could well become a permanent feature of the\u00a0business landscape. 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