VAT Reduction

[#1]

@shutter
Strange you had not come across QED before  
But then , I was a Grammar School  boy............

[#2]

Or as the inland revenue calculate it:
Multiply the gross amount by 0.851 will give you the value excluding 17.5% VAT then multiply by 1.15 will give you the new gross amount inclusive of 15% VAT.
£117.5x0.851=£100x 1.15= £115

[#3]

@artmo
yes, I knew of that way but I thought at the time that 0.851 wouldn't be as easy to remember as "Jumbo Jet" ! 

[#4]

Is it because Inland revenue employees can't use the divide key? 
The recipocal of 0.851 is 1.17508, so one can either divide by 1.175 or mulitply by 0.851

[#5]

Or get someone else to work it out for you

[#6]

Yes, but make sure it's  "itsme"........he knows all about reciprocals, so he must be a mathematical genius!

[#7]

Quote from: Strat

Here's something to cheer you all up... Speakers required

Very funny indeed Strat
*techguy falls under desk with laughter.
The kind of thing the internet was made for, that

[#8]

Multiply by .9787234  (115/117.5)

[#9]

115/117.5? Where did these values come from? Should be 1.15/1.175, the answer would be the same but you would lose marks on your exam paper. 

[#10]

do it in one old price x 0.978723404255 = new price
what is happening to the fuel 5%vat?

[#11]

Good point pierre. AFAIK absolutely nothing 

[#12]

Didn't see any reference to it at all pierre.

[#13]

Quote from: itsme

you would lose marks on your exam paper.

Not if it was being marked by a mathematician. The units are irrelevant as long as they are consistent, it's a ratio.

[#14]

Nothing is happening on the VAT on fuel.
So this reduction doesn't help anyone in basics, such as food, heating your home or getting about.
Fantastic.

[#15]

Food does not carry VAT, unless it's takeaways and restaurants and these have to charge 17.5% which has been reduced to 15%. So may be cheaper to eat out if they pass on the reduction.