18-01-2011, 15:14
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#1
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** **** ********
Join Date: Sep 2007
Posts: 10,760
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VAT and your corner shop
The shop by me has a sign at the checkout saying "due to the VAT rising from 17.5% to 20% all marked prices will have the extra added at the till" something like that.
Pkt of Rizla papers was 33p last week 40p today. nothing to do with VAT I expect.
I bet they add the 2.5% on top of the current total.
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18-01-2011, 16:58
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#2
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cf.geek
Join Date: Oct 2008
Location: Huntingdon, Cambs
Age: 46
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Posts: 504
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Re: VAT and your corner shop
If it was purely VAT then it would now be 34p.
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18-01-2011, 17:10
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#3
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Anyone can play guitar
Join Date: Jun 2003
Location: London way
Age: 36
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Re: VAT and your corner shop
They were saying a lot of companies were going to use the VAT increase to hike prices...
---------- Post added at 17:10 ---------- Previous post was at 17:09 ----------
http://www.which.co.uk/news/2011/01/...-hikes-241342/
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18-01-2011, 17:32
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#4
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** **** ********
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Re: VAT and your corner shop
By my maths he's added another 20% on top of the already VAT inclusive price. so does that mean it's actually 37.5% VAT on top instead of 20%?
28p + 17.5% (5p) = 33p
33p + 20% (7p) = 40p
You thieving little..
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Last edited by Gary L; 18-01-2011 at 17:36.
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18-01-2011, 17:35
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#5
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cf.mega poster
Join Date: Jan 2009
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Re: VAT and your corner shop
Quote:
Originally Posted by Gary L
By my maths he's added another 20% on top of the already VAT inclusive price. so does that mean it's actually 37.5% VAT on top instead of 20%?
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maybe his maths is bad ,point it out and see what he says
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18-01-2011, 17:40
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#6
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Cable Forum Team
Join Date: Jun 2006
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Re: VAT and your corner shop
Original price - 33p, which means (rounded) 28p without VAT, and 5p VAT.
New price (assuming same base VATless price) - 40p, which means (rounded) 28p without VAT, and 12p VAT, which works out to a VAT rate of 43%
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18-01-2011, 19:22
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#7
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cf.mega poster
Join Date: Jun 2003
Location: Cheshire
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Re: VAT and your corner shop
If they are the standard size ( i.e. not kingsize  ) then the RRP is 25p.
Typically that would give the retailer a margin of over 40% from a cost price ex-VAT of under £12.00 for 100.
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18-01-2011, 19:38
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#8
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** **** ********
Join Date: Sep 2007
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Re: VAT and your corner shop
LOL Tesco sell them for 25p each or 5 pks for £1.02!
Seriously if I buy 2 pks a week, that will be £41.60 a year or £20.40 a year.
or if you're really stingy £13 a year from the poundshop 
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18-01-2011, 20:48
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#9
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Cable Forum Team
Join Date: Jun 2006
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Re: VAT and your corner shop
Or you could give up smoking - it's bad for your health, you know....
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18-01-2011, 21:02
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#10
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** **** ********
Join Date: Sep 2007
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Re: VAT and your corner shop
Quote:
Originally Posted by Hugh
Or you could give up smoking - it's bad for your health, you know....
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If I gave up smoking I wouldn't know what to do with my smoking hand. or even my smoking mouth.
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18-01-2011, 21:22
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#11
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vox populi vox dei
Join Date: Mar 2007
Location: the last resort
Services: every thing
Posts: 5,477
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Re: VAT and your corner shop
Quote:
Originally Posted by Hugh
Or you could give up smoking - it's bad for your health, you know....
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but its good for the economy 
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19-01-2011, 11:32
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#12
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cf.mega poster
Join Date: Jan 2006
Posts: 9,641
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Re: VAT and your corner shop
Quote:
Originally Posted by Mr_love_monkey
They were saying a lot of companies were going to use the VAT increase to hike prices...
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Yep reminds me of the days after decimalisation, shopkeepers marked up and soon their were half penny millionaires...
---------- Post added at 11:32 ---------- Previous post was at 11:31 ----------
Quote:
Originally Posted by papa smurf
but its good for the economy |
and the pension time bomb...
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20-01-2011, 07:43
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#13
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cf.addict
Join Date: Jul 2010
Location: Nottinghamshire
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Posts: 146
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Re: VAT and your corner shop
Quote:
Originally Posted by papa smurf
but its good for the economy |
Every billion they scrape back off the smoker eats into the so-called national debt doesn't it?
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20-01-2011, 08:21
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#14
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Cable Forum Team
Join Date: Jun 2003
Location: South Wales
Posts: 29,871
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Re: VAT and your corner shop
And local shop owners still ask us to use them instead of the major supermarkets 
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20-01-2011, 12:13
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#15
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cf.geek
Join Date: Oct 2008
Location: Huntingdon, Cambs
Age: 46
Services: XL Everything
Posts: 504
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Re: VAT and your corner shop
Quote:
Originally Posted by Russ
And local shop owners still ask us to use them instead of the major supermarkets |
yep -easy solution - don't use 'em!!
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