On 4 Mar 2009, at 13:29, Steve Wood wrote:
> Am I right in saying that the difference in duty varies depending
> on the
> base price? As I understand it there is additional VAT payable on the
> first bit so it is not a constant number. Or are you saying that 42.7p
> is the difference at 60p base rate? (I've not got all the numbers to
> hand to work it out.)
It makes no odds - OK, there's 5% VAT to pay on the additional duty,
but the duty is not related to the net price, so it still falls a
long way short of 50p. The examples given on the IWA site (derived
form the HMRC's own, I suspect) makes it look far more complex than
it really is.
All the best
Bruce
There are no strangers on the cut, only boaters we've yet to meet.
[Non-text portions of this message have been removed]
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