Subject: Re: VAT
From: "Alan" 
Date: Wed, 18 Jul 2007 07:49:04 GMT
Bytes: 2053
Newsgroups: uk.finance


"qvc"  wrote in message 
news:1184743775.358986.127160@i38g2000prf.googlegroups.com...
> Can any of the resident experts answer a simple question on VAT
> please.
>
> I have a phone bill from BT on which the service charge is shown as
> 26.35, I don't use them for calls etc. so the VAT is calculated on
> this figure.  They make the VAT 4.62.
>
> Now I know that it is only 1p but I make 17.5% of 26.35 to be 4.61125
> which I would expect to round down to 4.61 not round up to 4.62.  If
> BT have x million customers and round these figures up each quarter
> are we all paying too muich VAT?  Is 4.62 correct or should it really
> be 4.61?
>
ffs ---- what's your address i'll send you a penny