Royal Bank Of Scotland Share Discussion Threads

[maxk] 04/11/2017 18:32

graham.

"professions liberals" is a French term for freelancers or self employed.

TVA is payable/chargeable at a lower starting rate than here: €32900, which is very close to what spreadsheet phil is proposing.

I wonder if there is a connection (€uro style)?

[grahamite2] 04/11/2017 17:17

Max, I don't think it is a price hike for customers - it's an additional cost the small trader will have to take on the chin. The market will bear what the market will bear. If a jobbing gardener can get away with £10 an hour, he just won't be able to put his price up to £12. Customers won't be interested in reasons and excuses.

What's weird is that Hammond is a businessman himself, not one of these clowns who went straight from university to politics. He knows all this.

[dbesim1] 04/11/2017 15:06

After a strong post-Brexit recovery, are Lloyds, RBS, Barclays and co set to run out of steam? HSBC thinks so

“Banks have rebounded strongly since the dust settled on the fallout from the UK’s EU membership referendum. However, we see the risk as being more balanced over the next couple of quarters”

Lloyds, RBS and Barclays have all seen their share prices jump by 25% since Brexit.

European banks such as Lloyds Banking Group PLC (LON:LLOY), Royal Bank of Scotland Group PLC (LON:RBS) and Barclays PLC (LON:BARC) have rebounded strongly since last summer’s Brexit vote, but HSBC reckons the rally could be coming to an end soon.

The Asia-focused bank has downgraded the entire European banking sector, claiming that risk is likely to be “more balanced” over the coming quarters.


Analyst Robert Parkes thinks market optimism in the banking sector is “starting to fade” and expects it to “be more sensitive to any potential negative newsflow”.

Parkes adds that a market correction is likely just around the corner as well with the “very favourable combination” of loose monetary policy and rising growth expectations unlikely to be as supportive going forward.

Rates expected to remain lower longer

“We also detect a degree of market complacency regarding political risk in Europe and believe it is too premature to assume that this has abated,” wrote the analyst in a note on Wednesday.

“In Spain, the Catalonia situation is unresolved, Brexit uncertainty is undiminished and the Italian election must take place by May 2018 at the latest. History tells us that banks are likely to come under pressure in any correction.”

On top of those things, the HSBC fixed income team expects rates to stay lower for longer than what the markets currently expect, which is likely to be disappointment for the sector.


[...]

[maxk] 04/11/2017 13:08

graham.

I haven't seen the whole article (paywall) but from the comment section, it was suggested that the threshold would be reduced to about £25k, anyone turning over more would have to charge vat.

For the small trader/tradesman that's a 20% price hike they will have to foist on their customers:

I can see why Hammond would like it, in theory more money to squander.

[grahamite2] 04/11/2017 12:05

Max, you've seen the full article. Is it suggesting that the threshold is to be reduced? Does it explain exactly how that is supposed to encourage small businesses to grow?

[whatgoesupcomesdown] 04/11/2017 11:58

Those businesses were like end customers before. Ie buying good with vat and selling to their customers whatever they wanted. Vat was already collected by their cash and carry type suppliers. Now it is proposed they will buy ex vat and sell goods and services with vat. They will be VAT registered. A non story spun into a non sensical money grab.

[whatgoesupcomesdown] 04/11/2017 11:53

No it doesn't. That was my point. They will buy ex vat

[grahamite2] 04/11/2017 11:52

Did your post come out wrong, whatgoesup? Charging VAT without passing it on is fraud.

[maxk] 04/11/2017 11:41

It still boils down to the end punter paying more, especially labour only type self employed, ie, a gardener, decorator, indeed almost any one man band outfit.

[whatgoesupcomesdown] 04/11/2017 11:35

Inaccurate reportingThose businesses will not charge customers VAT for the first time. They will pass on the VAT for the first time. Ie they will collect VAT on behalf of HMRC.

[maxk] 04/11/2017 11:17

The tory party decent into madness continues..



One million businesses and self-employed people could be dragged into VAT system


By Katie Morley, Consumer Affairs Editor
3 November 2017 • 9:30pm




Britain's VAT system is set for major reform after a review commissioned by Phillip Hammond found the current rules are hurting the economy.

The review, carried out by Government advisers at the Office for Tax Simplification, found that the current threshold above which businesses pay VAT is discouraging small businesses from growing.

The report, due to be published next week, will lay out options which could to be used to create a windfall for the Treasury in Phillip Hammond's Autumn Budget latest this month.

One of the suggested options would see a million extra businesses and self-employed people having to charge customers an extra 20 per cent for goods and services for the first time.



More here, but behind a paywall...read the comments:

[polar fox] 04/11/2017 09:10

Lovely cartoon on the Times website, showing May morphing into Major, with appropriate political comment. Spot on!

[maxk] 03/11/2017 17:59

No, not just the blokes leeds.

I too have seen the list, it has been published across the road by Stan.


Some red faces (and other parts) at tory HQ no doubt:

I wonder if they will try to stonewall it, or will there be some by-elections?

[leedskier] 03/11/2017 16:12

I have a detailed list which purports to be the Tory Party dossier. The details contained in it are illuminating. However I do not propose to upload it.

Suffice it to say those recently named feature, plus a lot more.

add

It is not just men on it.

[maxk] 03/11/2017 15:40

That article was prolly a spoiler to try and deflect the dirty dossier story.

There is a list in this article, which even if half of it is tosh, it's probably the end of Treesa and the Tories. (old fashioned pop group)

[polar fox] 03/11/2017 15:15

On the FT at present:

May’s critics smell decay in battle to bolster cabinet

Downing St effort to keep pace with Westminster rumours is reminiscent of Major era
unquote

Exactly the point I made earlier. In the 90s, the PM was politically inadequate. Now, the PM is politically inept/incompetent. A recipe for disaster whenever the public get an opportunity to vote.

[leedskier] 03/11/2017 12:31

At the age of 76 it was in his case probably wishful thinking and early dementia.

[leedskier] 03/11/2017 09:24

Very good maxk ...

perhaps the new Defence Secretary should gift Cronus to Leadsom, after all she got him the promotion and she and Cronus should make good bedfellows.