Purchase Tax
Prior
to decimalisation of the currency Purchase Tax was
levied on many goods manufactured or sold within the
United Kingdom. It was a 'once only' tax, charged at
the factory gate for goods manufactured here. The
rate varied considerably so it is not possible to
give precise rates that applied at a particular point
in time.
It
is often referred to as P. Tax, P.T. , or Purchase Tax.
Generally
prices were quoted net of tax or sometimes - includes 9d P.T.,
incl 1/3d P.T. etc. where the price
quoted included the tax.
Value Added Tax
Since
metrication of the currency Value Added Tax has
applied. This is a percentage added to the sale price
at every step in the sale chain, from leaving the
factory to the retail customer. Generally where
prices are shown as being trade (non retail) they are
net of V.A.T. and attract tax at the rate applicable
at the time of sale.
Where
the price shown is for the retail market it includes
V.A.T.
The
rate has varied for photographic goods from 8%
through 10%, 12 1/2%, 15% to the current (2000) rate
of 17 1/2%.