Why do you care about the VAT on Duty, you’re VAT registered.

More to the point why is everybody suddenly getting so upset about the percentage of the cost of each litre that goes in tax and duty? The government are actually taking the lowest percentage ‘cut’ in tax per litre that they’ve taken for at least 20 years, maybe even as far back as VAT was introduced.

Much as I dislike this government, it’s not them that are making the profit from the high fuel prices and what extra they do make goes to reduce the tax bill that they’ve lumbered us all with. What’s the problem?

Posted under Uncategorized

Posted by Alec at 9:24 pm, May 29, 2008

3 Comments so far

  1. Alec added on  May 29th, 2008 at 21:41

    Current tax percentage based on £1.30/litre is 53.62% – that’s the lowest percentage it’s been since at least January 1989 and I suspect the lowest since VAT was introduced.

    The amount per litre has risen but the percentage of total cost has fallen drastically – it was 80% of the cost at one stage.

  2. Alec added on  May 30th, 2008 at 10:34

    You didn’t read what I wrote. I’ve no love for this government at all. I was just pointing out that their percentage take of the fuel cost is going down, not up as some people imagine.

  3. Alec added on  May 30th, 2008 at 11:28

    But it’s not “the Government” making the money, it’s the country. Whatever happens there’s a huge budget deficit caused by the government’s mismanagement of the economy. It’s their mistake but one way or another WE are going to have to pay for it, because WE are the only source of revenue that the Government has. If we don’t pay for it this way then we’ll end up paying another way, either way we lose.

    At least while fuel prices are high it keeps a bit of traffic off the road.

    I’m not particularly disagreeing with anyone or trying to make a point – just pointing out that there’s more than one way of looking at things.

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