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captain cab
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PostPosted: Fri Oct 24, 2008 6:28 pm 
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cabbyman wrote:
The VAT on diesel is 19.05P not %!!!

:lol:


Thats what I mean....Skippy was wrong :wink:

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cabbyman
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PostPosted: Fri Oct 24, 2008 6:38 pm 
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skippy41 wrote:
cabbyman wrote:
The VAT on diesel is 19.05P not %!!!

:lol:

% or P its still 2.5 P more


Because the cost of the product, retailers margin and delivery cost more. Don't ask me why those costs are higher....You may like to address that question to Petrolprices.com
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echo15
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PostPosted: Fri Oct 24, 2008 6:46 pm 
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Shouldn't worry too much about it OPEC want more money so they are cutting production so we'll be paying more for both.

In the end the only people that gain are the oil companies and the government

No change there then! :evil:

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Fae Fife
 Post subject: Re: VAT on fuel
PostPosted: Sat Oct 25, 2008 9:20 am 
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skippy41 wrote:
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%


As has been pointed out the VAT shown is in pence rather than a percentage.

The reason the VAT on diesel is more than that on petrol....now wait for it...is that diesel is dearer than petrol :shock:

If you have a price with the VAT included then you can find out the VAT amount by using the VAT fraction, which is 7/47.

Thus just multiply the total cost of the fuel by seven then divide by 47 and you'll get the VAT.

The example on the website shows petrol at 115.0 pence and diesel at 127.9 pence.

Just multiply each figure by seven then divide by 47 and you'll get the VAT figures shown on the diagram.

Taking the VAT figures from the price of the fuel gives 97.9 and 108.9 respectively. Thus this is the figure NET of VAT. If you then multiply these figures by 17.5% you come back to the VAT figures shown in the diagram.
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captain cab
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PostPosted: Sat Oct 25, 2008 9:59 am 
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Well done fae fife :wink:

Skippy was wrong wasnt he :D

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jimbo
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PostPosted: Sat Oct 25, 2008 7:09 pm 
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captain cab wrote:
Well done fae fife :wink:

Skippy was wrong wasnt he :D

CC


Never thought I'd see the day when Skippy was wrong...

Now there's only the Pope who's infallable...

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skippy41
 Post subject: Re: VAT on fuel
PostPosted: Sun Oct 26, 2008 5:14 am 
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Fae Fife wrote:
skippy41 wrote:
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%


As has been pointed out the VAT shown is in pence rather than a percentage.

The reason the VAT on diesel is more than that on petrol....now wait for it...is that diesel is dearer than petrol :shock:

If you have a price with the VAT included then you can find out the VAT amount by using the VAT fraction, which is 7/47.

Thus just multiply the total cost of the fuel by seven then divide by 47 and you'll get the VAT.

The example on the website shows petrol at 115.0 pence and diesel at 127.9 pence.

Just multiply each figure by seven then divide by 47 and you'll get the VAT figures shown on the diagram.

Taking the VAT figures from the price of the fuel gives 97.9 and 108.9 respectively. Thus this is the figure NET of VAT. If you then multiply these figures by 17.5% you come back to the VAT figures shown in the diagram.


Dam I put the decimal point in the wrong place :lol: :lol:
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captain cab
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PostPosted: Sun Oct 26, 2008 12:10 pm 
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jimbo wrote:

Never thought I'd see the day when Skippy was wrong...

Now there's only the Pope who's infallable...


In certain parts of the Country they believe he's inflammable.

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echo15
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PostPosted: Sun Oct 26, 2008 2:01 pm 
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Quote:
Now there's only the Pope who's infallable...


There was me thinking of a pope filled with helium then I read it again :lol: :lol: :lol: :lol:

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gusmac
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PostPosted: Sun Oct 26, 2008 2:24 pm 
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echo15 wrote:
Quote:
Now there's only the Pope who's infallable...


There was me thinking of a pope filled with helium then I read it again :lol: :lol: :lol: :lol:


You're mixing him up with the PM.
He's the one who's a balloon :lol: :lol:

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captain cab
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PostPosted: Sun Oct 26, 2008 2:26 pm 
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gusmac wrote:

You're mixing him up with the PM.
He's the one who's a balloon :lol: :lol:


Baboon surely

Image

The cabinet yesterday

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gusmac
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PostPosted: Sun Oct 26, 2008 2:32 pm 
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captain cab wrote:
gusmac wrote:

You're mixing him up with the PM.
He's the one who's a balloon :lol: :lol:


Baboon surely

Image

The cabinet yesterday

CC


Here's the official pic.
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grandad
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PostPosted: Sun Oct 26, 2008 5:35 pm 
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wannabeeahack wrote:
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


Actually it is the other way round. They add the duty and then put VAT on the lot.

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Sussex
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PostPosted: Sun Oct 26, 2008 6:46 pm 
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captain cab wrote:
In certain parts of the Country they believe he's inflammable.

Only once a year. :shock:

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