math  taxes


Question by  sunshine56 (2)

How do you calculate VAT?

I need to understand how to calculate Vat in Britain.


Answer by  tasa87jc (20)

You need a simple division. For example: Suppose you have a VAT component of £14.90. What was the price Net? 14.9 * 100 / 17.5 1490 / 17.5 = 85.14 If the Vat was £14.90, the price before VAT was £85.14


Answer by  jossf3d (258)

Since December 2009 the VAT rate is 17.5%. So to calculate, multiply by 0.175. So for an item that costs 10 pounds the tax is 10 x 0.175 or 1.75.


Answer by  Tweety32 (5)

In the UK there are three rates. Standard rate: Most goods and services 17.5 per cent. Reduced rate: domestic fuel or power 5 per cent. Zero rate: food books 0


Answer by  noguf (162)

The value added should be the difference between what you paid for the input and what is paid for our output. Only on this difference do you pay the VAT.

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