ground rent and vat

[fontaine]

site fees have vat added to it as it is classed as a product or service
we are all used to paying the 17.5 % and indeed a couple of years ago we all enjoyed a reduction when vat went to 15% for a year
now the new chancellor has put vat up to 20% i hope parks will be a little sympathetic to us owners and for at least next season 2011, freeze the ground fees at 2010 rates as the total for ground rent will naturally go up when the 20% vat kicks in in january.
the new vat rate will be factored in to our site fees bills at the end of this year as the site fees is classed as a 2011 service
if the site fees go up as they normally do at the end of the year, and then the new vat kicks in in january, us owners will be hit by a double whammy
i wonder what other people think of this and i put this particularly to our new member who is a site manager for his views

[Teakbank12]

Originally Posted by fontaine

site fees have vat added to it as it is classed as a product or service
we are all used to paying the 17.5 % and indeed a couple of years ago we all enjoyed a reduction when vat went to 15% for a year
now the new chancellor has put vat up to 20% i hope parks will be a little sympathetic to us owners and for at least next season 2011, freeze the ground fees at 2010 rates as the total for ground rent will naturally go up when the 20% vat kicks in in january.
the new vat rate will be factored in to our site fees bills at the end of this year as the site fees is classed as a 2011 service
if the site fees go up as they normally do at the end of the year, and then the new vat kicks in in january, us owners will be hit by a double whammy
i wonder what other people think of this and i put this particularly to our new member who is a site manager for his views

If you pay in full by 1st December for 2011 fees as we do to get the early payment discount of £50 you will only pay vat at the current rate.
Likewise any big purchases would be worth doing before 4th January 2011 to save the extra 2.5%.
Our site were very good when vat dropped to 15%, they refunded money paid early as a goodwill gesture.