skippy41 wrote:
a CC charge of 2.5%
I like that charge
CC
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| Author: | skippy41 [ Fri Oct 24, 2008 1:54 pm ] |
| Post subject: | VAT on fuel |
Could someone explain why the vat on diesel is 2% more at 19.5% yet petrol is only 17.5% I thought the vat on everything was 17.5% except for a few things being ether 0% or 5% |
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| Author: | wannabeeahack [ Fri Oct 24, 2008 2:25 pm ] |
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where do you get 19.5% from? dont forget petrol/derv has vat and duty on them all fuel sold on forecourts also has a CC charge of 2.5% even if you pay cash/folding |
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| Author: | skippy41 [ Fri Oct 24, 2008 2:32 pm ] |
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wannabeeahack wrote: where do you get 19.5% from?
dont forget petrol/derv has vat and duty on them all fuel sold on forecourts also has a CC charge of 2.5% even if you pay cash/folding It was on one of them find you cheapest fuel sites it showed a break down of what you pay and what tax and vat are charged |
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| Author: | captain cab [ Fri Oct 24, 2008 2:46 pm ] |
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skippy41 wrote: a CC charge of 2.5%
I like that charge
CC |
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| Author: | wannabeeahack [ Fri Oct 24, 2008 2:53 pm ] |
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skippy41 wrote: wannabeeahack wrote: where do you get 19.5% from? dont forget petrol/derv has vat and duty on them all fuel sold on forecourts also has a CC charge of 2.5% even if you pay cash/folding It was on one of them find you cheapest fuel sites it showed a break down of what you pay and what tax and vat are charged thats VAt at 17.5% plus duty then tax on tax |
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| Author: | wannabeeahack [ Fri Oct 24, 2008 2:56 pm ] |
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United Kingdom Main article: Hydrocarbon oil duty From 2007-10-01 the main road fuel (petrol and diesel) duty rate in the UK is GBP£0.5035 per litre (GBP£2.2890/imperial gal or GBP£1.9059/US gal). The rate for biodiesel and bioethanol is £0.3035/L Value Added Tax (VAT), currently at 17.5%, is also charged on the price of the fuel and on the duty. At a pump price of 128.8p/litre (typical for diesel as at May 2008), this would put the combined tax at 69.53p/litre Thus without tax, the retail price would be 59.26p per litre, making a combined tax rate of 117%. Diesel for use by farmers and construction vehicles is coloured red and has a much reduced tax. Jet fuel used for international aviation attracts no duty, and no VAT.[3] The Fuel Price Escalator (FPE) was the practice of automatically increasing hydrocarbon oil duty (better known as 'fuel tax') in the United Kingdom ahead of inflation. The escalator was introduced as a measure to stem the increase in pollution from road transport and cut the need for new road building which was then a politically sensitive topic. The escalator also resulted in significant increases in revenue for The Treasury. The fuel price escalator was introduced by the Conservative government in 1993 and set at an annual increase of 3% ahead of inflation, later rising to 5%. After gaining power in 1997, the rate of increase was raised by the Labour government to 6% per year. The last rise due to the escalator took place following the budget on March 9, 1999 [1]. The end to the escalator was announced on November 9, 2000, following the UK fuel protests, of which it was a contributory factor. When the escalator ended, fuel in the UK was the most expensive in Europe, with fuel tax representing over 75% of the retail price of fuel. In 1993 UK fuel had been amongst the cheapest in Europe. |
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| Author: | wannabeeahack [ Fri Oct 24, 2008 2:59 pm ] |
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2007 Fuel Tax Figures NOT VAT! 2007 fuel duty (as of 1 October 2007) in the United Kingdom is: * 50.35 pence per litre for ultra-low sulphur unleaded petrol/diesel * 53.65 pence per litre for conventional unleaded petrol * 56.94 pence per litre for conventional diesel * 30.35 pence per litre for bio-diesel and bio ethanol - low tax to encourage consumer conversion * 16.49 pence per kg for gas other than natural gas (LPG) * 13.70 pence per kg for natural gas used as road fuel. * 9.69 pence per litre for rebated gas oil (red diesel) * 9.29 pence per litre for rebated fuel oil |
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| Author: | captain cab [ Fri Oct 24, 2008 3:03 pm ] |
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You mean Skippy is wrong
CC |
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| Author: | wannabeeahack [ Fri Oct 24, 2008 3:41 pm ] |
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captain cab wrote: You mean Skippy is wrong
CC mis-informed, confused, but not totally wrong the total taxation on fuel may be 19.5% but not the vat which is, i believe, rebated for school bus contract work basically, who would think anyone would pay tax on tax on goods.... |
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| Author: | Sussex [ Fri Oct 24, 2008 5:14 pm ] |
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Heard a mush on five live yesterday saying that more diesel refining capacity will come on line towards the end of next year. Which in turn should lead to the price of diesel being much the same as petrol. 
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| Author: | edders23 [ Fri Oct 24, 2008 5:59 pm ] |
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Sussex wrote: Heard a mush on five live yesterday saying that more diesel refining capacity will come on line towards the end of next year.
Which in turn should lead to the price of diesel being much the same as petrol. Oh look there goes a flock of flying pigs !!!!!!!!! 
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| Author: | wannabeeahack [ Fri Oct 24, 2008 6:10 pm ] |
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if derv stays higher than u/leaded any longer, or the gap widens i think dual fuel/LPG is the way to go, especially in the car/small van/swb transit area, until GB raises the tax/duty on LPG, which will really prove that global climate change is sod all to do with his "green tax" policy as LPG is about as clean as an internal combustion engine can get how many deisel car owners actually benefit from using it? the 50p a gallon difference, higher purchase price of the diesel, higher serving costs and all that bloody smoke (not many are 100% clean are they, really) and mrs smith doing 30 miles a day thinks 50mpg is just great......oh no it isnt! |
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| Author: | skippy41 [ Fri Oct 24, 2008 6:11 pm ] |
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http://www.petrolprices.com/price-of-petrol.html Found it |
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| Author: | cabbyman [ Fri Oct 24, 2008 6:23 pm ] |
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The VAT on diesel is 19.05P not %!!!
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| Author: | skippy41 [ Fri Oct 24, 2008 6:28 pm ] |
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cabbyman wrote: The VAT on diesel is 19.05P not %!!!
% or P its still 2.5 P more |
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