NPower to raise Electric charges by 15%, Gas by 4.9%

[El Cid]

They can't take VAT off. EU law forbids this. Maybe in 2 years...

 

Which law is that?

 

---------- Post added 04-02-2017 at 19:32 ----------

 

From 1 January 2017 Romania will reduce the VAT charged on sports and fitness-related services from the 20% standard rate to the reduced rate of 9%.

 

They can reduce levels of VAT, Romania did.

[999tigger]

Which law is that?

 

---------- Post added 04-02-2017 at 19:32 ----------

 

From 1 January 2017 Romania will reduce the VAT charged on sports and fitness-related services from the 20% standard rate to the reduced rate of 9%.

 

They can reduce levels of VAT, Romania did.

 

The EU sets the broad VAT rules through European VAT Directives, and has set the minimum standard VAT rate at 15%. The 28 member states are otherwise free to set their standard VAT rates. The EU also permits a maximum of two reduced rates, the lowest of which must be 5% or above.

 

That sets it out for you.

http://ec.europa.eu/taxation_customs/business/vat/eu-vat-rules-topic/vat-rates_en

 

They wouldnt anyway because they need the money and people can change supplier.

Edited February 4, 2017 by 999tigger

[El Cid]

The EU sets the broad VAT rules through European VAT Directives, and has set the minimum standard VAT rate at 15%. The 28 member states are otherwise free to set their standard VAT rates. The EU also permits a maximum of two reduced rates, the lowest of which must be 5% or above.

 

 

As I have stated above, VAT rates can be lowered.

 

Exceptions to the rules – "special rates" of VAT

 

"Special rates" refers to the multiple exceptions to the basic rules.Largely for historical reasons and under certain conditions, many EU countries (in some instances, most of them) have been allowed to depart from these rules for a transitional period, with the objective to allow for the gradual alignment of national laws with the VAT Directive, pending the definitive adoption of agreed VAT arrangements by all EU countries.

 

This enables them to keep "special rates" - reduced rates under 5% (including zero rates) and reduced rates for goods and services other than those listed in the directive (Articles 102-128 VAT Directive).

 

 

NOTE

The VAT rate applicable to the supply of goods also applies to the import and intra-EU acquisition of the same goods (Article 94 VAT Directive).

[999tigger]

As I have stated above, VAT rates can be lowered.

 

Exceptions to the rules – "special rates" of VAT

 

"Special rates" refers to the multiple exceptions to the basic rules.Largely for historical reasons and under certain conditions, many EU countries (in some instances, most of them) have been allowed to depart from these rules for a transitional period, with the objective to allow for the gradual alignment of national laws with the VAT Directive, pending the definitive adoption of agreed VAT arrangements by all EU countries.

 

This enables them to keep "special rates" - reduced rates under 5% (including zero rates) and reduced rates for goods and services other than those listed in the directive (Articles 102-128 VAT Directive).

 

 

NOTE

The VAT rate applicable to the supply of goods also applies to the import and intra-EU acquisition of the same goods (Article 94 VAT Directive).

 

I was supporting what youd said.......

 

You quoted my own link back to me... I wont bother next time

[El Cid]

I was supporting what youd said.......

 

You quoted my own link back to me... I wont bother next time

 

The Unbeliever will be along soon

[unbeliever]

There's so much choice and competition now it hardly matters.

 

---------- Post added 04-02-2017 at 21:03 ----------

 

As I have stated above, VAT rates can be lowered.

 

Exceptions to the rules – "special rates" of VAT

 

"Special rates" refers to the multiple exceptions to the basic rules.Largely for historical reasons and under certain conditions, many EU countries (in some instances, most of them) have been allowed to depart from these rules for a transitional period, with the objective to allow for the gradual alignment of national laws with the VAT Directive, pending the definitive adoption of agreed VAT arrangements by all EU countries.

 

This enables them to keep "special rates" - reduced rates under 5% (including zero rates) and reduced rates for goods and services other than those listed in the directive (Articles 102-128 VAT Directive).

 

 

NOTE

The VAT rate applicable to the supply of goods also applies to the import and intra-EU acquisition of the same goods (Article 94 VAT Directive).

 

 

Hi. It's already at 5%. It can't be cut further under EU law.

Edited February 4, 2017 by unbeliever
I see tigger's already taken care of this one. Apologies for the redundancy.

[phil752]

There's so much choice and competition now it hardly matters.

 

---------- Post added 04-02-2017 at 21:03 ----------

 

 

 

Hi. It's already at 5%. It can't be cut further under EU law.

 

It is but we still get screwed for insulation some ones house on the outh side of the country

[El Cid]

It is but we still get screwed for insulation some ones house on the outh side of the country

 

The Government could try to meet its targets by raising money via general taxation instead; in which case YOU may end up paying more!!

[unbeliever]

As I said earlier, the thing which really jumps out at me is the fact that electricity is going up 3x more than gas. This is very likely down to feed in tariffs and other support for renewables. That's definitely something a post-Brexit government can fix.

[El Cid]

It said wholesale electricity prices had risen 38% over the last 12 months, while gas prices had risen 60%.

 

And possibly smart metres, I have held off getting one, but I believe they can save people money - so I will make inquiries.