VAT

[Funderkat]

how do i work out VAT

[Phantaxus]

VAT is charged at 17.5% (this can be thought as 10%+5%+2.5%)

 

So take your starting figure. I will use and easy one �100 and work out 10% (move the decinal point one place left) �10.00 (Second figure)

 

Than take half of your second figure �10.00 = �5.00(third figure)

 

then take half of your third figure �5.00 = 2.50(fourth figure)

 

thern add your second third and forth figure together to get the VAT 10+5+2.5 = 17.50 add to your starting figure to get the price with VAT 117.50 

[kags]

If you are trying to work out the VAT that has already been charged, you need a calculator - multiply the total by 100 then divide by 117.5.

[swan04]

Multiply the amount by 1.175, so for example if you want to add VAT to �300, multiply 300 x 1.175 = �352.50, thus the VAT on �300 is �52.50. If the amount already includes VAT and you want to know how much it is, simply divide the amount by 1.175 e.g. �587.50 divided by 1.175 = �500 so the VAT amount is �87.50. Simple!