Britain's Petrol Problem Here Is The Solution.

Mr Parsnip

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Hi everyone just been thinking while watching the breakfast news,we are supposed to be one of the riches countries in the world So why doesnt britains goverment buy its own oil rig/land/feed and produce its own i know we should have to get it shipped over here so our refinerys could do its business.


By doing it this way the goverment could make a good profit and charge us the customer a good affordable rate.


im sure it they were to charge 80 pence a litre they would still make a large profit.

Mr P
 

Donnie Darko

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We already have the north sea,but its well in decline.The gov already tax the north sea as well as at the pump with finished product.
 

digidude

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im surprised they havent thopught up a tax tax lol

where you have to pay tax as a percentage of the total tax you pay over the year

i think ill VAT register myself and get a nice windfall every year for doing fook all, itll mean diesel becomes 20p a litre cheaper straight away

now fookin ell, theres a thoughtfor every tenner im putting in the tank, 1.75 of thats VAT. in the last 2 days ive gone through 60 quid of fuel, thatd be over a tenner back next april

hmmmm, im gonna look into this
 

Munkey

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im surprised they havent thopught up a tax tax lol

where you have to pay tax as a percentage of the total tax you pay over the year

i think ill VAT register myself and get a nice windfall every year for doing fook all, itll mean diesel becomes 20p a litre cheaper straight away

now fookin ell, theres a thoughtfor every tenner im putting in the tank, 1.75 of thats VAT. in the last 2 days ive gone through 60 quid of fuel, thatd be over a tenner back next april

hmmmm, im gonna look into this

As long as your turnover is over £70k IIRC you can register for VAT. Considering how easy it is to do a return its a no brianer if you can turn over £70k or more. Her majesty may grant you a VAT number even if you trade under that amount in exceptional circumstances like other companies refusing to trade with you as you are not VAT registered.
 

JonMMM

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im surprised they havent thopught up a tax tax lol

i think ill VAT register myself and get a nice windfall every year for doing fook all, itll mean diesel becomes 20p a litre cheaper straight away

hmmmm, im gonna look into this

It does not work that way on fuel there if fuel tax and VAT you would only be able to claim back the VAT not the fuel tax, otherwise the lorry drivers would not be up in arms
 

digidude

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It does not work that way on fuel there if fuel tax and VAT you would only be able to claim back the VAT not the fuel tax, otherwise the lorry drivers would not be up in arms

yep i know that m8, but if vat makes up 17.5% of the total price, then that means that if a liter is 129.9p (which by me it is) then every liter carries 22.75p you can claim back, if your tank holds 50L and you fill it up, thats nearly 11.40 you can claim back
 

JonMMM

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yep i know that m8, but if vat makes up 17.5% of the total price, then that means that if a liter is 129.9p (which by me it is) then every liter carries 22.75p you can claim back, if your tank holds 50L and you fill it up, thats nearly 11.40 you can claim back

But I also think that you can only offset it against VAT that you are charging, so you would have to work it out very carefully

Jon
 

digidude

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ill phone my accountant on tuesday and see what she says, ive always considered VAT to be 'dead' money and a waste, but with fuel like it is, i can see it being worth me registering
 

JonMMM

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ill phone my accountant on tuesday and see what she says, ive always considered VAT to be 'dead' money and a waste, but with fuel like it is, i can see it being worth me registering

it will still prob be dead money, and puts another debt, i.e. we charge over £1/4 mill VAT a year(at those figures we have no choice but to be VAT registered) but you see the money coming in and spend it then the VAT bill comes in - not good.

Don't forget you will have to charge VAT as well so your prices will go up to whoever you are billing, depending what you are doing that may not make any difference to them, on the other hand may price you out of te market.

In our case we charge about £250,000 VAT per annum and claim back about £50,000, if you are a sevice industry I would avoid it until you have no choice, if you are in the bying and selling sector and are buying things that you pay VAT on then go for it.

Jon
 

digidude

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i run my own company installing aerials and satellite equipment, i pay VAT on everything, all the prices i get quoted are 'plus VAT' but if im paying more VAT than im collecting, which if i just kept my prices as they are, but the VATs included in the price, itd mean i take slightly less throughout the year, but would pay more VAT than i collect, i think
ill speak to my accountant after the weekend about it
 

v14

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As long as your turnover is over £70k IIRC you can register for VAT. Considering how easy it is to do a return its a no brianer if you can turn over £70k or more. Her majesty may grant you a VAT number even if you trade under that amount in exceptional circumstances like other companies refusing to trade with you as you are not VAT registered.

anyone self employed person can register for VAT regardless of turnover.
if your turnover is more than £67000 then it's compulsory.
if your self employed and you pay for goods or services with VAT added then it's a bit daft not to register for VAT.

if youre vat registered then £100 of diesel at the pump actually costs £85.11 once you claim the vat back.
 
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MFCGMFC

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thank god i don't have a car, fook this paying for fuel crap surprised there has been a rise in cases of siphoning!!

Cheers
MFCGAVMFC
 

K

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Went to costco before.. bought 40Ltrs of Cooking Oil.. its a Box with a 20ltr bottle inside..

Cost @ £16.99 per 20 Litre..

Cost per Litre 0.85p...

Saving of 0.41p 1.26.9 for diesel :)...

There is however a limit on how many barrels of oil you can buy at any one time.. as they know what the score is.. im not sure what the limit is but just go in with your card.. take the oil home and go back for more an hour later.. as it seems to only be limited per visit..


Oh yeah... Kia Sedonna runs a treat on it.. and the smell from the exhaust is nice aswell lol..
 
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