The Tax man takes a whopping 75% (Duty and then VAT on top of the overall sale = 75%.)
The thing is that now with fuel at today’s £1.10 plus per litre price the garage owners share is still only 3p per litre, so we are now down to less than 3% profit. If that was not tough enough, these day’s people often pay with credit cards so the banks then take between 1 % and 2%commission, this brings our profit down to between1 and 2%! And that’s before we pay rates and electricity bills etc. never mind staff! I don’t know how long we can keep going on these margins, says Jeff.
Tags: