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Buying a DUTY FREE camera from Dixons at Heathrow

Buying a DUTY FREE camera from Dixons at Heathrow

Old Jul 17th 2006, 8:40 pm
  #16  
Kgb
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Posts: n/a
Default 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
 
Old Jul 24th 2006, 2:34 pm
  #17  
Ken Tough
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Posts: n/a
Default 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.
 

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