Make sure you use your full ISA allowance, £7,200 for a full "stocks and shares" ISA (if you can find something decent to invest in!).
The VAT cut is welcome (anyone know
exactly when it comes into effect? As usual, the news reports are annoyingly vague). However, this is one tax I object to more than income tax. So be aware of exactly how much VAT you are paying, i.e. what is VAT-able, and what isn't. I like Waitrose because they make it clear on their till receipts which items attract VAT and which don't, and summarise the VAT at the bottom. (Why don't all shops do this?).
Most things are predictable, but occasionally I get a surprise, e.g. pure fruit juice is VAT-able. I'd expect Coke to be, but fruit juice? Isn't that supposed to be healthy and all? (I don't actually think so, but that's an argument for another day). As far as I remember all fresh food is VAT-free. I know ready-cooked and warm stuff is VAT-able. I am not sure about things like frozen ready-meals. (I try never to buy heavily-processed foods, but again, that's another issue entirely).
For my supermarket shopping, I take pride in walking out having paid as little VAT as possible, preferably none
(I notice that Darling has upped the duty on tobacco, alcohol and petrol to counteract the VAT reduction, so the price is supposed to remain the same).
He's also put up NI, which is another tax I resent, since it's a kind of "back-door" income tax. I wish they'd be honest and put it on income-tax proper.
Makes me even more glad to be a spread-better.
Now, if I can just become a
profitable one...
Regard,
M.
