Vat Calculation

[bmwdrivernigel]

In the 'old days' to find the VAT content of a figure when VAT was 15% you could divide by 7.67 to give you the total, now than its 17.5% what do you divide it by?

Thanks guys, its that time of the month!!

Nigel

[magic torch]

Multiply by 0.175

[2 sMoKiN bArReLs]

magic torch said:

Multiply by 0.175

Eh?

Only if you have the vat exclusive value.

Try 6.714285714

[2 sMoKiN bArReLs]

Eg 117.5 divided by 6.714285714 = 17.5

[bmwdrivernigel]

2 sMoKiN bArReLs said:

magic torch said:

Multiply by 0.175

Eh?

Only if you have the vat exclusive value.

Try 6.714285714

Nope, must be more than 7.67!!!

VAT man must love you!

What I am asking for is:

If I have the VAT inclusive figure of £100, What do I divide it by to show me the VAT element in the £100 I have just spent?

Edited by bmwdrivernigel on Monday 27th November 18:39

[magic torch]

Ah, mis-read the question. In which case, yes it's 6.714285714286

[bmwdrivernigel]

Thank you.

[Eric Mc]

Multiply the VAT Inclusive value by 7/47 to get the VAT content.
Multiply the VAT Inclusive value by 40/47 to get the VAT Exclusive value.

[Smartie]

divide the gross by 1.175 to get the net, then subtract from gross to get the VAT.

[GerryTheFrenchie]

Smartie said:

divide the gross by 1.175 to get the net, then subtract from gross to get the VAT.

That's the way i've just calculated it.


ETA: Dunno why my gf's login has displayed. (It's Phil H here)..... Bizarre.

Edited by Phil Hopkins on Monday 27th November 20:18

[Phil Hopkins]

Test


That's better... I hate cross dressing prior to the weekend.

Edited by Phil Hopkins on Monday 27th November 20:19

[2 sMoKiN bArReLs]

Phil Hopkins said:

Test


That's better... I hate cross dressing prior to the weekend.

Edited by Phil Hopkins on Monday 27th November 20:19

and it's only Monday

[mcflurry]

multiply by 0.8510638 to find the ex VAT price or 0.148936 to find the vat