> I do know that the UK has a 20% VAT on each level of manufacture and/or > distribution. That can add up quickly in the end purchase price.
That's not quite how VAT works. If I buy a widget with a notional value of a pound, I pay £1.20. If I am registered for VAT (typically the case for most businesses), I can then sell it on at £2 plus tax (IOW £2.40), I offset the input tax (20p) against the output tax (40p) and end up owing the govt. 20p. Cheers, Dave _______________________________________________ volt-nuts mailing list -- volt-nuts@febo.com To unsubscribe, go to https://www.febo.com/cgi-bin/mailman/listinfo/volt-nuts and follow the instructions there.
