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  1. #21
    Join Date
    Dec 2005
    Location
    London
    Posts
    358

    Default Re: HMRC Consultation.

    More bad news on this front.

    After November next year, diesel for leisure boat use will be subject to the standard rate of VAT, because...

    "The reduced rate of VAT does not apply in any circumstances to a supply of hydrocarbon oil that is subject to a full (unrebated or unrelieved) rate of excise duty."

    As the red (if the Govt goes with option A) we use after November 1st 2008 will be unrebated, then full VAT will be applied.
    <br><a href="https://twitter.com/mbyipc" target="_blank"><img src="https://default.secure.media.ipcdigital.co.uk/9092%7C000001aaf%7Cafab_Twitter.jpg" border="0" /></a> <a href="https://www.facebook.com/mbyipc" target="_blank"><img src="https://default.secure.media.ipcdigital.co.uk/9092%7C000001ab0%7Ced9c_Facebook.jpg" border="0" /></a>

  2. #22
    Join Date
    May 2001
    Location
    live near Saint Ives, Cornwall.
    Posts
    3,853

    Default Re: HMRC Consultation.

    Standard rate of VAT is 17.5%, but the government also add Excise Duty/Fuel Tax, that takes the price up to what we see on road diesel.

    Will they be adding any Excise Duty/Fuel Tax to the red diesel to bring it up to road diesel prices.

    What is the present rate of tax on red? Is it 8% or something?
    regards,
    Philip

  3. #23
    Join Date
    Apr 2005
    Location
    Looking out of the window
    Posts
    13,939

    Default Re: HMRC Consultation.

    VAT is 5%, duty is 7.44 pence per litre

  4. #24
    Join Date
    May 2001
    Location
    live near Saint Ives, Cornwall.
    Posts
    3,853

    Default Re: HMRC Consultation.

    mmmmm. I wonder what the duty will be when they put the 17.5% VAT on red???

    The governments are never content with just VAT, they have to have two bites of the cherry. They add duty first, and then add VAT to the price of fuel plus the duty.
    regards,
    Philip

  5. #25
    Join Date
    Mar 2002
    Location
    ked into poverty by children
    Posts
    8,517

    Default Re: HMRC Consultation.

    After a moderately rubbish two week "cruise", isn't Ramsgate great? I'm back to considering jacking in boating. The socialists in HMG and the EU are in the process of restricting the hobby to the rich.
    Two beers please, my friend is paying.

  6. #26
    Join Date
    Feb 2007
    Location
    Cambridge Fens
    Posts
    5,703

    Default Re: HMRC Consultation.

    Hm, I wonder why they did not choose to remove the rail and farming derogations as well?
    Farmer Jones filling station and the cost of protecting the marshalling yards perhaps.

    Robin
    I'm more Teddybear than Werebear
    Beware the Grizzlybear

  7. #27
    Join Date
    Feb 2007
    Location
    Cambridge Fens
    Posts
    5,703

    Default Re: HMRC Consultation.

    Oh and actually LPG has a different rate of VAT, as to whether it is going in cars or heating a house, also 4.5p road fuel tax

    Robin
    I'm more Teddybear than Werebear
    Beware the Grizzlybear

  8. #28
    Join Date
    Oct 2006
    Posts
    5

    Default Re: HMRC Consultation.

    At the risk of being lynched I thought I'd add a thought. The principle problem with charging us a low rate of duty seems to be the risk of fraud where different levels of duty are charged for the same fuel. As I understand it the dying of diesel is easy and almost costless when done in the refinery.

    Low duty green (dyed) diesel for leisure boaters anyone?

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