VAT Formula

[Im a BusyBee]

i read on here the new updated formula for working out the vat within a figure - the old formula was divide by 47 then x 7 - can anyone help me with the new one please? thanx.

[Im a BusyBee]

thanks for your quick answer - i do know that simple formula but i am needing the one that accounts use. i have read it on here and i hope someone can help me!

[kempie]

The version to mirror 7 / 47ths would be 3 / 23rds

[Im a BusyBee]

thats the one i wanted kempie thanks so much.

[eash]

Is this the question you remember?

http://www.theanswerbank.co.uk/How-it-Works/Qu estion663264.html

[BenDToy]

For a simple and accurate ready reckoner, add 1/10th and add another half of that. For example, the VAT on �80 is �8 and then another �4. VAT is �12 and total prrice is �92.