VATgreenspun.com : LUSENET : Repossession : One Thread
Can anyone remember when VAT changed from 15% to 17.5%? This is to check Estate agents bill for "a fixed fee of £1000 plus £175 in VAT (for a £20000 sale)" which works out at 5% (1996)
Thanks in anticipation
-- marne small (email@example.com), June 19, 2002
Not sure exactly when but it was long before 1996 - mid 80's I think.
-- Matt (firstname.lastname@example.org), June 20, 2002.
17.5% of £1000 is £175!!!!!!!!!!!!!!!!!!
-- gerry byrne (email@example.com), June 20, 2002.
Yes thanks for the reply(Matt), Gerry, I AM capable of the simple maths involved!(One explanation mark is sufficient Gerry - please dont get so excited).
However, I was unsure as to the VAT levels in the mid 90's, and am going through all information with a fine toothed comb, checking every detail. Although I need not question the VAT level now, I can question the 5% fee at a time when estate agents were charging less.
Should I need to.
-- marne small (firstname.lastname@example.org), June 20, 2002.