Am I the only sceptic with a calculator? I was sat sitting this morning, as you do when you get up, AND before you say owt, No I don’t have my calculator with me in the bathroom.
Take this situation. Haulage firm who can claim VAT back.
HGV lorry with two 45 gallon diesel tanks = 410 litres when filled.
Diesel at 113.9p/ltr
Pre budget:
Full tank inc VAT £467.00p
Full tank ex VAT £397.44p
Post budget
Full tank inc VAT £467.00p ( because duty will have been increased to replace loss from VAT)
Full tank ex VAT £406.09p
An increase of £8.65p per full tank of fuel.
Haulage costs will increase so prices at the shops will increase.
NOW, if an item that cost
£100.00p + VAT @17.5% = £117.50p
is increased in price because of haulage charges to
£102.17p + VAT @ 15% = £117.49p
dave