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fuel cost
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Ciantar
Posts: 2 Newbie
I don't know where best to post this, but I thought I should add this anyway.
on this site, I cant add the link...
A break down of fuel cost is shown
fuel duty 54 %
manufacturer 23
vat was 15 (17.50)
retailer 8This is wrong. As fuel duty is worked out based on spirit or alcohol content.
IE Tanker of fuel comes into UK say costing
£2500 17.5% of this is only £437.50
However VAT is not calculated on this cost.
First add excise, then manufacturer costs and retailer
Now the price would be £4625
VAT on this is £809.37
I spent 16 years as an import export clerk. this is how the calculation works.
so your break down of cost is wrong the Government gets more than 54% + 15%
(now 17.5) as per your calculations.
on this site, I cant add the link...
A break down of fuel cost is shown
fuel duty 54 %
manufacturer 23
vat was 15 (17.50)
retailer 8This is wrong. As fuel duty is worked out based on spirit or alcohol content.
IE Tanker of fuel comes into UK say costing
£2500 17.5% of this is only £437.50
However VAT is not calculated on this cost.
First add excise, then manufacturer costs and retailer
Now the price would be £4625
VAT on this is £809.37
I spent 16 years as an import export clerk. this is how the calculation works.
so your break down of cost is wrong the Government gets more than 54% + 15%
(now 17.5) as per your calculations.
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