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#11
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Buying a DUTY FREE camera from Dixons at Heathrow
Following up to Ken Tough :
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. Only if you are traveling back to a non-EU country. -- Tim C. |
#12
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Buying a DUTY FREE camera from Dixons at Heathrow
In article ,
Ken Tough wrote: 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. I looked at prices for the Nokia E61. 349 pounds. Even if you got 20% VAT back, it's still way more than what you'd pay in the US, under $400. |
#13
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Buying a DUTY FREE camera from Dixons at Heathrow
On Thu, 13 Jul 2006 00:53:39 GMT, Ken Tough
wrote: SNIP 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. Let's assume you bought an item costing £100 which included 17.5% VAT; what you would actually get refunded is £14.89, NOT £17.50. This is because something costing £100 INCLUDING VAT, breaks down to a VAT-free cost of £85.11 plus 17.5% of this sum (£14.89) adding up to your £100. 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. Regards KGB |
#14
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Buying a DUTY FREE camera from Dixons at Heathrow
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) |
#15
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Buying a DUTY FREE camera from Dixons at Heathrow
On Tue, 18 Jul 2006 02:48:04 GMT, mrtravel
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) Which is even betterr. ************* DAVE HATUNEN ) ************* * Tucson Arizona, out where the cacti grow * * My typos & mispellings are intentional copyright traps * |
#16
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Buying a DUTY FREE camera from Dixons at Heathrow
On Tue, 18 Jul 2006 02:48:04 GMT, mrtravel
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 |
#17
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Buying a DUTY FREE camera from Dixons at Heathrow
KGB wrote: On Thu, 13 Jul 2006 00:53:39 GMT, Ken Tough 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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