[volt-nuts] Fluke 720a self calibration repair
David C. Partridge
david.partridge at perdrix.co.uk
Mon Sep 28 04:05:14 EDT 2015
> I do know that the UK has a 20% VAT on each level of manufacture and/or distribution. That can add up quickly in the end purchase price.
That's not quite how VAT works. If I buy a widget with a notional value of a pound, I pay £1.20. If I am registered for VAT (typically the case for most businesses), I can then sell it on at £2 plus tax (IOW £2.40), I offset the input tax (20p) against the output tax (40p) and end up owing the govt. 20p.
More information about the volt-nuts