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BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > Regional Forums > UK > UK Off-Topic Discussions > 1p a litre off fuel what a joke?

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      03-24-2011, 07:26 AM   #23
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LOL your brother looks cool.
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      03-24-2011, 08:19 AM   #24
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Originally Posted by ChrisE91 View Post
LOL your brother looks cool.
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      03-24-2011, 03:41 PM   #25
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If I pay 1.390 for a litre of fuel the Govt gets the following:

VAT = 0.278
Fuel Duty = 0.582

Total Tax = 0.860

That equates to a marginal tax rate of about 162%

Of course I also have to buy this out of taxed income, which means the government gets a further 0.650 before the money even reaches me.

If you add that in the tax rate is 284%

1p reduction is taking the piss. It will probably have gone up another 5p by the end of the week so that the oil companies can pay the government the extra tax they are being charged.

If that happens the Government also get their penny back due to the extra VAT.
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