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Additional Details
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Additional Details
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dolly | If i have a bill of £39.99 including VAT how do I work out how much VAT i have paid? |
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Paul S
 |
Ok think of 47 being the magic number in working out VAT and Net amounts from a Gross amount
£39.99 = 47 Gross Amount
Vat = 7 VAT Amount
Net = 40 Net Amount
therefore to work out the vat element
£39.99 /47 x 7 = £5.96 rounded up
to work out the net element
£39.99 /47 x 40 = £34.03
Hope this helps |
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bails
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times by 7 then divide by 47 will give you the vat element |
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Rajiv T
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it would be 39.99 divided by 1.175 = 34.03, so the VAT paid is 39.99 - 34.03 = 5.96 |
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sonya
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the bill was £34.03 + VAT @ 17.5% = £39.99 well thats what i get it to anyway. |
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Mumknowsbest
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I think some of the other answerers are finding it difficult to work out "backwards". If you paid £34 for it, the VAT, added at 17.5% would bring it to £39.95, so it's about £6 you've paid extra, not £7. |
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C
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you times the number by 7 then divide it by 47, so 39.99 x by 7 =279.93 divide by 47 = £5.96 so that is how much VAT you have paid going off the VAT being 17.5 percent x |
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fwtmagik
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the bill must include the amount of VAT that you have paid, but it is 17.5%. |
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rozy
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roughly 14% of the TOTAL value is the vat IN a price hope this helps.....rose |
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Lauren
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VAT in UK last time I heard was 17.5% Try this calculator http://www.taxcentral.co.uk/taxcentral/home/vat/vatcalculator/default.asp |
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♥Scottish♥ ♥Fairy♥
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usually 17/5 % vat |
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Gem*
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Actually VAT in the UK is 17.5%, not just England |
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Lucie
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Vat is 17.5% in the Uk. So if you paid £39.99 then you paid about £6.99 in VAT. To work that out i did 39.99 x17.5 / 100. |
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pepzi_bandit
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depends what it was for, different goods have different tax |
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