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Wedding rings look to cut VAT as fuel costs sour

Wedding bands say they’re absorbing additional prices for {couples}, however costs must go up any further as a result of musicians are “actually badly hit by gas prices.”

The Wedding Band Affiliation (WBA) is lobbying the federal government to decrease the 23% VAT fee that applies to trade, which may offset rising diesel prices.

In a current letter to Ministers Paschal Donohoe and Michael McGrath, the WBA stated the VAT earnings threshold was too low for a “respectable earnings return,” making it an “unappealing prospect” for brand new bands.

Relying on the variety of folks, a marriage ring prices between 2,000 and three,000 euros.

Picture: Getty Photographs

Tony Wardfrom the Blue Moose Wedding Band, stated they’ve been extremely busy in current months catching up on weddings which have been postponed due to Covid, however costs are nonetheless as agreed.

“The largest downside actually is that we’re enjoying weddings that had been booked due to postponements three or 4 years in the past. In fact, on the value we had been booked at three or 4 years in the past, we could not have foreseen the massive will increase in gas prices. So we’ll take successful, he stated.

“Possibly some bands will contact the couple once more. We do not. We solely take the gas and insurance coverage prices. It impacts all prices.”

Ward added his band performed three weddings in Wicklow final week, in addition to weddings in Galway, Sligo and Limerick.

“’You are speaking about 1,500 euros in diesel prices should you drive from the highest of the nation to the underside of the nation. Most marriage ceremony rings try this,” he stated.

“I’ve 5 individuals who journey full-time and one who works full-time within the workplace. It is a very respectable and respected enterprise. That is how I pay my mortgage and feed my children.”

Kathal Molloy the WBA commented, “Musicians typically are hit very exhausting by gas prices. What we do could be nearer to the 13.5% fee than the 23% fee or take a look at what the hospitality trade has. You have got 9%.”

Molloy added that the 23% VAT fee poses a barrier to beginning marriage ceremony bands, as they need to register for VAT in the event that they earn greater than €37,500 a yr.

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