Off TopicAre you a QOTWer? Do you want to start a thread that isn't a direct answer to the current QOTW? Then this place, gentle poster, is your friend.
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rob, Sun 1 Apr 2001, 1:00)
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I believe it works thusYou (as a retailer) buy a product from a supplier for £100, and pay VAT, thus forking out £117.50.
You then sell to me at £200, plus the VAT I pay, thus I pay £235
You've paid out £17.50 in VAT, and received £35. So, you get back the £17.50 that you'd paid out, and the other £17.50 goes to the VAT man.
So, my phone company (KC) don't pass anything onto us. The net price of their service remains the same, the savings come from the VAT man.
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sandettie light vessel automatic New Twitter - @bollocksreally, Mon 1 Dec 2008, 20:48,
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