What is the calculation for working out the vat on a total sum?

Question

What is the calculation for working out the vat on a total sum?

Answer 1

If VAT is 17.5%, divide by 1.175 then multiply by 0.175

Answer 2

If you need to add the VAT on an amount, just take

the figure and do:

Amount x 1.175

If you want to remove the amount:

Total Amount / 1.175

Or you can use a VAT calculator online

Answer 3

With VAT at 17.5%, the easiest way is as follows:

Take the gross amount. Multiply by 7. Divide by 47. This will give you the amount of VAT.

To work out the 'net' value, multiply by 40. Divide by 47.

So, if you have a gross price of 117.50, if you multiply by 7 and divide by 47 you are left with 17.50 - which is the VAT.

If you have a gross price of 117.50, if you multiply by 40 and divide by 47 you are left with 100 - which is the net value.

(The check is to then work back the other way. Take a net £100. Add on 17.5% VAT, which is £17.50. This gives you a gross figure of £117.50.)

Answer 4

if vat is 21% then divide sum by 100 and multiply by 21

e.g

13.5% of £500

500 divided by 100 =5

5 multiplyed by 13.5 = £67.50