News Column

ANDREW Sentance has got a

August 11, 2014


ANDREW Sentance has got a bee in his bonnet. It's the height of summer, garden parties are rife and the former Bank of England interest rate-setter has noticed a vast inequality, which hampers his enjoyment of said merriment. The VAT on party snacks. "20 per cent VAT on potato crisps; zero on tortilla chips! Ripe for reform," he announced on Twitter. He followed this with a terribly handy list of the VAT liability of "common snacks." It turns out to be a revealing list. For example did you know Skips have a zero rate of tax, whereas their close cousins, Monster Munch, have 20 per cent? Cheesy Wotsits carry a hefty 20 per cent VAT also, whereas Twiglets escape VAT free. No guesses for what Sentence will serve up at his next dinner party - tortilla chips will help him save a packet.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: City A.M. (UK)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters