Reply With QuoteLast time VAT was reduced, Rolex UK did indeed reduce their RRPs by the relevant amount. I would expect they will do the same, if a general cut in VAT is temporarily implemented now.
Will the predicted vat cut in uk, affect the price of Rolex, or will they just adjust their prices too suit? I’ve read reduction of 20% to 15%. Could be savings from £300 up to thousands.
Last time VAT was reduced, Rolex UK did indeed reduce their RRPs by the relevant amount. I would expect they will do the same, if a general cut in VAT is temporarily implemented now.
Let’s hope so! I’m due to pick up my BB58 this weekend so anything saved is a bonus!
Germany is currently 16% so definitely a saving to be made on big purchase from there
Wow, I haven’t heard this news. A 5% cut in VAT would massively reduce the cost of living, that in itself would help with any watch purchase to be honest.
Don't think it will make much difference to most peoples cost of living.
Wasn't this mooted as being just for certain sectors anyway, such as hospitalities? I guess we'll find out later today.
Predicting accurately what the economy will do seems hard enough for the so called experts, us arm chair economists are often wrong. That said I wouldn't be surprised to see a vat cut for a short period to encourage us to spend on more costly non essential items (cars, furniture, watches, holidays etc) and pump some cash into the economy. However essentials don't attract vat and there could be some inflation in these areas as production had dropped while demand hasn't. My family food bill seems massive as it is, but I could see it jumping 10% or more. If it does I may need a lot more than a 5% vat reduction to get me buying expensive non essentials.
Those in a position to spend that way, yep it should help encourage some spending which is good for all of us.
I’ve certainly noticed an increase in weekly food bills over the last few months. And also expiry dates on perishables seem to be getting short. I assume the supply chains have been affected.Originally Posted by LondonNeil
Sorry - I thought this topic was on G&D. as relation to watch buying 5% off retail makes no difference to me as I don’t tend to buy retail anyway.
if it’s a long term cut - the manufactures will increase their prices to compensate.
Last edited by MartynJC (UK); 8th July 2020 at 12:45.
Yep - no Rolex price cut for you.
VAT cut temporarily to 5% for the hospitality and tourism sectors.
As you were.
Does that include beer? Refunds on already booked flights?
I would say:
No for beer.
No refund of part VAT on a flight that has already been paid for, or where you have received a VAT invoice, but not yet paid.
Last edited by gbn13; 8th July 2020 at 17:29. Reason: I was wrong re. the Beer
From how I read it there is no VAT cut for Alcohol at all.
This stimulus package is a total waste of time.
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So we should be social distancing but given an incentive to go on holiday and eat out ??
Awesome insight, thanks.
Now just had a look, I think you are correct. I was just taking it at face value as applying to the hospitality sector; which would therefore include the full bill I pay in a restaurant.
The administration in Scotland would never allow a vat cut in alcohol, given they created a minimum price to “encourage” people to drink less.
Oh well the shortlived dream is over.
Eh? The minimum pricing will still prevail no matter what the VAT rate is.
Any VAT cut would just feed more profit to the retailer.
Not at rolex.
In goldsmiths today same price
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Obviously a predicted cut in VAT wouldn't affect the price of Rolex.
A cut might but there has been no such cut.
[QUOTE=ozzyb123;5472668]This stimulus package is a total waste of time.
Why have you posted this in WT?
When you look long into an abyss, the abyss looks long into you.........
[QUOTE=Chris_in_the_UK;5473004]No different to many posts here, VAT on alcohol and such like.
[QUOTE=Kingstepper;5473015]Lazy inept Crapatalk posts - no place in WT, stop defending it.
When you look long into an abyss, the abyss looks long into you.........
[QUOTE=Chris_in_the_UK;5473017]Many are, why single out that one?
[QUOTE=Kingstepper;5473019]First one I came to, why are you defending them all?
When you look long into an abyss, the abyss looks long into you.........
Not sure why you think I am.
Would be very surprised if any VAT cut made it's way to your restaurant bill.
The restaurant will pocket the VAT break.
To be honest you can't blame them as they have been hit hard but it won't encourage people out in that case.
You could maybe withhold that London 15% service charge they like to add on in lieu of any reduction.
There’s still the 50% (up to £10) off the bill to encourage people out.
Unless the restaurants put prices up to take this too...
That was my point.
How many peoples meals out will £10 make a big difference to?
Maybe kids going for a cheap pizza but can’t see it being a deal breaker for that many
To many will make a bigger difference than the VAT cut.
McDonald’s are popular with some TZers.
I think so.
If they can get their price lists amended quickly - with new vat-inc prices (as they always are) - and it actually looks like they have passed on the saving - then (for that type of establishment) - people will continue to tip.
If they simply leave their prices as they were - I can see people adding nothing to the bill by way of a tip. “Take it out the 15% VAT saving”
Will restaurant staff complain, or will they have to suck that up “at least I have a job”.
Hopefully there will not be a downside to the initiative.
Ah, sorry.
LOL you really thought there could be a price decrease on Rolex watches?
If there were a cut in VAT, Rolex UK would indeed have reduced the price —- exactly as they did when it dropped temporarily from 17.5% to 15% some years ago. I still have the dated price lists from the time.
Yep, I remember it. However knowing what Rolex is like now, they’d have a price increase implemented pretty quickly.
I was all up for buying the watch but I kid you not there was a mark on the bezel.
Awaiting another before I buy...
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