Buying a DUTY FREE camera from Dixons at Heathrow
Jul 18th 2006, 8:40 am
#16
Guest
Posts: n/a
Re: Buying a DUTY FREE camera from Dixons at Heathrow
On Tue, 18 Jul 2006 02:48:04 GMT, mrtravel <[email protected]>
wrote:
>KGB (KGB) wrote:
>> In other words, you cannot work out the VAT-free cost of an item by
>> just deducting 17.5% of the purchase price; the way to do it is to
>> divide by 1.175.
>Or simply multiply by 1/1.175 :)
>You won't believe how many people believe that buying a stock at a 15
>percent discount means you gain 15 percent if the price doesn't change.
>(The gain is actually 15/85, not 15/100)
I used to own a shop many years ago. My usual markup was 50% - i.e.
my profit was 33.3%
Regards
KGB
wrote:
>KGB (KGB) wrote:
>> In other words, you cannot work out the VAT-free cost of an item by
>> just deducting 17.5% of the purchase price; the way to do it is to
>> divide by 1.175.
>Or simply multiply by 1/1.175 :)
>You won't believe how many people believe that buying a stock at a 15
>percent discount means you gain 15 percent if the price doesn't change.
>(The gain is actually 15/85, not 15/100)
I used to own a shop many years ago. My usual markup was 50% - i.e.
my profit was 33.3%
Regards
KGB
Jul 25th 2006, 2:34 am
#17
Guest
Posts: n/a
Re: Buying a DUTY FREE camera from Dixons at Heathrow
KGB wrote:
> On Thu, 13 Jul 2006 00:53:39 GMT, Ken Tough <[email protected]>
> >True. Prices within the UK include the 17.5% Value Added Tax (VAT).
> >If you buy on the high street, you can actually claim that VAT back
> >after you leave the country. You just need a form from the retailer,
> >and get it stamped before you check in at the airport (carrying the
> >goods out of the country with you). They will mail you a cheque
> >for 17.5% of what you paid.
> Hi
> Sorry to be pedantic, but that is not strictly correct.
...
> In other words, you cannot work out the VAT-free cost of an item by
> just deducting 17.5% of the purchase price; the way to do it is to
> divide by 1.175.
Not pedantic at all, that's a very good point. I was very sloppy
there, and in fact
I remember scratching my head briefly when calculating what I was due
back
after buying my last camera in the UK.
> On Thu, 13 Jul 2006 00:53:39 GMT, Ken Tough <[email protected]>
> >True. Prices within the UK include the 17.5% Value Added Tax (VAT).
> >If you buy on the high street, you can actually claim that VAT back
> >after you leave the country. You just need a form from the retailer,
> >and get it stamped before you check in at the airport (carrying the
> >goods out of the country with you). They will mail you a cheque
> >for 17.5% of what you paid.
> Hi
> Sorry to be pedantic, but that is not strictly correct.
...
> In other words, you cannot work out the VAT-free cost of an item by
> just deducting 17.5% of the purchase price; the way to do it is to
> divide by 1.175.
Not pedantic at all, that's a very good point. I was very sloppy
there, and in fact
I remember scratching my head briefly when calculating what I was due
back
after buying my last camera in the UK.
