RED - it aint over yet

MBM went to press just before the "updated" HMRC document was issued, which is a bit unfortunate.

But the latest information is 5% VAT on both propulsion and heating fuels, which I'm reasonably happy with /forums/images/graemlins/cool.gif

dv.
 
isn't the VAT on top of the full road fuel duty, which is about 50-60p/l, so the basic cost will zoom from 70-75ppl to 130ppl PLUS 5% VAT, so prbly rounded up to 140ish ppl?

The VAT isn't the only increase.
 
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isn't the VAT on top of the full road fuel duty, which is about 50-60p/l, so the basic cost will zoom from 70-75ppl to 130ppl PLUS 5% VAT, so prbly rounded up to 140ish ppl?

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Have you read the briefing note linked to in the original post?

Rick
 
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Have you read the briefing note linked to in the original post?

Rick

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<suitablycontrite>ah. yes. I have now. apologies for stating the bleedin' obvious</suitablycontrite>

/forums/images/graemlins/blush.gif
 
Yep, sorry about this. The 5% news broke three days after we sent MBM to the printer. When we went to press, the 17.5% rate was correct and had been for months. Am still trying to get a satisfactory answer out of HRMC as to why the change was made. Not that I'm complaining, would just like to know as it's made us look a bit foolish.
 
"made to look a bit foolish"

Not at all, you can only report what you are quoted.
Maybe next month they'll make the VAT zero? /forums/images/graemlins/grin.gif
 
I'm not sure that everyone isn't getting confused over this ?

My understanding is that all fuel will be VATable at 5% regardless of propulsion or domestic use. That bits easy. Thats doesn't mean that our only increase is 5%.

The propulsion element (which the HMRC is suggetsing is 60% of the fill) will additionally be increased by the full rate of duty which is something close to 40ppL.

If you take Shotley marina right now it's 83ppL. Assuming nothing changes to the base price, for 100L I'll be paying 83 plus 40 ppl (123 ppl) for 60L and 83ppL for 40L. That's £73.80 for the propulsion and £33.20 for the heating, giving a bill of £112.35 including the 5% VAT. Right now I'd be paying £87.15 including the 5% tax (which oddly we've been being charged since time began ?).

Therefore, for Shotley, the overall ppL has increased from 87.15 pence per L to £1.12 per L. That's still a 29% increase on 1st November.

Admittedly it's not as bad as first thought but I can't help but think that peeps on here think the increase is just 5% ?

Maybe I'm wrong. It's still not good news.

CD
 
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The propulsion element (which the HMRC is suggetsing is 60% of the fill) will additionally be increased by the full rate of duty which is something close to 40ppL.


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The full duty payable (on the 60% bit) is actualy about 50ppl, remember it already has 9.9ppl on it already, so it is increasing by 40ppl.

You seem a bit confused /forums/images/graemlins/grin.gif
 
If after the dust settles red ends up being dearer than road diesel I imagine that there is nothing to stop you putting 60% white in and then topping up with 40% red for heating. You would probably have to keep reciepts though. -At least you would have a drop of decent stuff in the tank.
 
While 60% white 40% red sounds good, the declaration you will sign is that 0% of the red will be used for propulsion. If you have separate tanks this may be true but it won't be if it all goes in one tank. Declarations of 0% are also likely to attract the Revenue's interest. I would recommend you keep your head below the parapet.
 
EH !!???
It's not 60% White and 40% Red.
It's 100% Red - unless you want to put some White in from a filling station.
You then declare how much of this will be used for propulsion (typically 60%) and what for "non propulsion" (typically 40%).
It just has to be an educated guess, no one is going to come along and accuse you of being, say, 5% out for that fill up.
 
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