Vat still at 5% ...fingers crossed
Did i just hear the budget say that vat was staying at 5% for a further 6 months ?
Hopefully that will get passed onto us again saving pitch site fees . Fingers crossed 😊
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Agreed 😊 . We haven’t really been able to take advantage of it much have we.
here’s hoping 😬😀1 -
Correct, until the end of September...as before to help the hospitality sector.
Like others.....The club do not have to pass this on to the customer..and in my personal opinion should not do so. The incentive to attract more usage of sites is no longer valid as can be seen in the take up of bookings well into 2022..
I would suggest the club use the savings to further improve the sites that have missed out from the last budget...
I was going to say "invest in improving 'Club Together' but I have come to the conclusion that this is a lost cause...
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This is the quote from the BBC website:- "The reduced 5% VAT for the hospitality and tourism sector will be extended for six months to 30 September, and will not return to the full standard rate of 20% until April next year."
Not quite sure what happens between the end of September and April next year?
Whilst it is a nice to have I am not entirely sure that it is needed as there so much pent up demand it's unlikely campsites will be empty regardless of whether VAT is 5 or 20%? Just a bit more to pay back later.
David
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From Sept 2021 to March 2022 there is to be an interim VAT rate of 12.5%.
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Not quite sure what happens between the end of September and April next year?
An interim 12.5 percent will be charged.
peedee
P.S. Just beat me to it TW. Minimum wage is to increase which will put up site fees and tax allowances are frozen until 2026 which is going to have a double whammy on what will be affordable.
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It is (to me) Interesting that some suggest the club shouldn't pass on the reduction. I'm not bothered either way but it's interesting as I recall from last time that some posters were saying that if the club didn't pass on the reduction the club would be committing fraud, cheating it's members, they wouldn't use a club ever again... and more like it.
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Corners, are you standing by to explain the calculations of the changes from 20 to 5 to 12.5 to 20%? Remember last time?🤣🤣🤣
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Last year the "other" club didn't pass on the VAT saving on forward bookings at first but did on the actual date it began. However they extended membership fees (they've just done this again.)
What ever way this is applied, it is a saving and I'll be glad to enjoy it. There'll be some out there who will have had reduced incomes during Covid restrictions and it is a welcome reduction for them. Not all members have incomes of such a level that they can say they don't need a reduction when it's available.
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I was just thinking the same thing!
I think it will be a case of - it just is, OK!
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We've had a letter Peedee, our cards run out soon and we can produce the letter to say we have an extension from 16/03/21 to 16/06/21 if needed. We will need the letter as we are hoping to use C&CC sites in May.
Or is this the extension from last year..maybe I'm confused?!
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I think we posted at the same moment!
Just a slight correction the EU required a minimum rate of 15% and member governments were able to select any rate above that. I suppose the Government could do away with VAT and reintroduce Purchase Tax? To me it's a bit academic because I am not convinced it was necessary now or previously. I think the pub/restaurant trade might be different case but perhaps it was difficult to separate them out?
The Club, having passed on the reduction to members last time I just can't see them not doing the same this time. How would they justify that? No doubt we will get clarification in the next day or two.
David
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Varying VAT Rates in Europe We have always been able to set our own rates. Leaving the EU had no effect.
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Our extension was from last November to February and we had the same letter. The renewal notice and new cards arrived in Feb.
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I stand corrected on the 15% minimum...which was a requirement set by the EU..In a previous life I had read a note on 20% being mooted.
As for the club passing on the VAT reduction...this was just my personal opinion...and as you yourself say 'was it necessary previously'...agree the club will have difficulty justifying any change in policy..
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Evening All
If you read the terms and conditions of a site booking made with the club it clearly states that vat will be charged at the going rate. So, it's early starts for us again adjusting payments lol
JK
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Any company that has ££millions in a war chest are not in any need for bail out funds👍🏻
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Brilliant 😊👍
Thanks for pointing this out . Never noticed it .
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R2b...I'm not sure the club..or any other company/organisation in the VAT reduction nominated group will have any choice in how they pay the VAT to HMG....in which case I suggested, as my personal opinion, that the VAT monies should not be passed on but improve those sites that missed out on the last sites budget...
or...the club could invest a new server at EG..
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GTP, I was generalising re VAT as in all reductions should be passed on to members unless a company could go under if it didn’t. I remember someone posting that C&MC had ££millions in its fighting fund(apparently gleaned from the published accounts) it that is so why wouldn’t they pass on the reduction🤷🏻♂️👍🏻
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