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Author VAT Calculation
Tomnova16
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Registered: 21st Jan 06
Location: Gerrards Cross Drives: Porsche 911
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3rd Aug 09 at 08:51   View Garage View User's Profile U2U Member Reply With Quote
just a quick one
what is the calculation for working out VAT @ 15% from a total, i know the 17.5% one but cant find a 15% one, cheers in advance

http://www.lemass.co.uk/ for all your automotive/bodyshop needs
Located in Chalfont st Peter
willay
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3rd Aug 09 at 08:53   View Garage View User's Profile U2U Member Reply With Quote
http://www.contractorcalculator.co.uk/vatcalculator.aspx

google
Tommy L
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3rd Aug 09 at 08:54   View User's Profile U2U Member Reply With Quote
To get the net figure it is gross divided by 1.15

ie. £115

£115/1.15 = £100

edit - When you say total i thought you meant gross not net

[Edited on 03-08-2009 by corsa_tomtom]
Tomnova16
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3rd Aug 09 at 08:55   View Garage View User's Profile U2U Member Reply With Quote
the 17.5% one is total divided by 47 * 7.
is there one the same as this for 15%

http://www.lemass.co.uk/ for all your automotive/bodyshop needs
Located in Chalfont st Peter
Tommy L
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3rd Aug 09 at 08:56   View User's Profile U2U Member Reply With Quote
So are you trying to put VAT onto a figure or get the VAT element out of a figure (gross)?

[Edited on 03-08-2009 by corsa_tomtom]
Tomnova16
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3rd Aug 09 at 09:00   View Garage View User's Profile U2U Member Reply With Quote
Nope say you have £117.50 as a total inc vat
vat @ 17.5%
117.50 / 47 = 2.5
times by 7 = £17.5

the total / 1.15 does work but gives you the net which you have to subtract from the total, the other way is just quicker as it gives you the vat as the answer.
Cheers for your quick replys though guys

http://www.lemass.co.uk/ for all your automotive/bodyshop needs
Located in Chalfont st Peter
Tommy L
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3rd Aug 09 at 09:06   View User's Profile U2U Member Reply With Quote
Gross/1.15 then the figure you get times it by 0.15

ie. £115 inc VAT

£115/1.15 = £100

£100*0.15 = £15

£15 is the VAT element of £115
DaveyLC
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3rd Aug 09 at 09:13   View User's Profile U2U Member Reply With Quote
times by 3 then divide 23

So (115 * 3) / 23 = 15

Sorted
Cosmo
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3rd Aug 09 at 09:16   View User's Profile U2U Member Reply With Quote
No, divide by 23 then times by 3.
Tomnova16
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3rd Aug 09 at 10:30   View Garage View User's Profile U2U Member Reply With Quote
thats the one cosmo/davey cheers

[Edited on 03-08-2009 by Tomnova16]

http://www.lemass.co.uk/ for all your automotive/bodyshop needs
Located in Chalfont st Peter
Cosmo
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3rd Aug 09 at 10:33   View User's Profile U2U Member Reply With Quote
tbh what I said is exactly the same as what Davey said, but it is correct.

Its imprinted on my brain after just finishing our Q2 VAT return
Tomnova16
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3rd Aug 09 at 10:37   View Garage View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Cosmo
tbh what I said is exactly the same as what Davey said, but it is correct.

Its imprinted on my brain after just finishing our Q2 VAT return

just doing my first one now, pain in the arse

http://www.lemass.co.uk/ for all your automotive/bodyshop needs
Located in Chalfont st Peter
Cosmo
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3rd Aug 09 at 10:37   View User's Profile U2U Member Reply With Quote
You're late with it, should of been in last day in July.

Wouldnt worry too much though, have handed a few in late.
DaveyLC
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3rd Aug 09 at 10:41   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Cosmo
No, divide by 23 then times by 3.


Because that makes such a difference
Tomnova16
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3rd Aug 09 at 10:42   View Garage View User's Profile U2U Member Reply With Quote
no mate got till end of august to get it in, the 1/4ly ones start from august 1st

http://www.lemass.co.uk/ for all your automotive/bodyshop needs
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Cosmo
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3rd Aug 09 at 10:45   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by DaveyLC
quote:
Originally posted by Cosmo
No, divide by 23 then times by 3.


Because that makes such a difference


Yes I know, was taking the michael.
Cosmo
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3rd Aug 09 at 10:46   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Tomnova16
no mate got till end of august to get it in, the 1/4ly ones start from august 1st


Eh?

Are you doing a 1/4erly return? So Jan to Mar, to be in end of April. Apr to Jun, to be in end of July.
Tomnova16
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3rd Aug 09 at 10:47   View Garage View User's Profile U2U Member Reply With Quote
1st one so one month, 01/07 till 31/07

http://www.lemass.co.uk/ for all your automotive/bodyshop needs
Located in Chalfont st Peter
jacko198
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3rd Aug 09 at 11:31   View User's Profile U2U Member Reply With Quote
Number devided by 115 X 100 is what we do at work for cyclescheme quotes
DaveyLC
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3rd Aug 09 at 11:56   View User's Profile U2U Member Reply With Quote
That works out the price before VAT, not the value of the VAT
jacko198
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3rd Aug 09 at 12:29   View User's Profile U2U Member Reply With Quote
Suppose, but then you just take away that number from the original one, and then you get the vat
DaveyLC
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3rd Aug 09 at 12:30   View User's Profile U2U Member Reply With Quote
Yep.. but he wanted the simple equation.
Welsh Dan
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3rd Aug 09 at 12:33   View User's Profile U2U Member Reply With Quote
Am I missing something, or are you lot all making it look harder than it is to work out 15% of a total?

Just do 10% of the total, then add half of that amount again
Cosmo
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3rd Aug 09 at 12:44   View User's Profile U2U Member Reply With Quote
working out 3/23rds is just as easy as that.
Welsh Dan
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3rd Aug 09 at 13:03   View User's Profile U2U Member Reply With Quote
No it isn't. 10% of anything is easy, and halving that amount isn't that hard either.

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