vat

[spin cycle]

sorry i'm pretty sure i've asked this before then forget ....i need to reverse calculate 5% from a gross number,,,eg if 120 is total including vat what's the net

 

[Highland Mule]

120/1.05 = 114.29

 

[goodevans]

100 ,divide by 6 x5
Sorry misread question

 

[caveman]

Divide 120/21 gives vat element.

 

[goodevans]

Divide 105 x100

 

[Baker9]

Divide £120 by 6, then multi[ply by 5 gives the net amount
or if it is 5% vat you are looking at then divide by 105 and multiply by 100 gives net amount.

 

[neilo]

If the gross amount (with 20% VAT) is 120, then multiply by 5/6 to get the net amount, or x 0.8333333 if you like.

 

[yellowbelly]

What you need @spin cycle is a tree with square roots..................

..................... you just have to saw it down and make it into log tables - you'll then be able to calculate the vat

 

[norse]

Online VAT Calculator

Free UK VAT calculator. We have created this VAT calculator as a free to use tool for calculating VAT rates in the UK.

www.vatcalculator.co.uk

online vat calculator, you can set the rate at whatever you want and it calculates it for you

 

[spin cycle]

so divide by 21 ...thank you

BTW i'm sure you're all right ...apart from YB... but @caveman was the only i understood

 

[delilah]

What's the new enterprise then Spin Maester, you entered the log game or moving on some chawed cherry ?

 

[Tractorstant]

Online VAT Calculator

Free UK VAT calculator. We have created this VAT calculator as a free to use tool for calculating VAT rates in the UK.

www.vatcalculator.co.uk

fed up with getting roasted from the FD!

 

[spin cycle]

What's the new enterprise then Spin Maester, you entered the log game or moving on some chawed cherry ?

for the holiday let

 

[andybk]

Reverse VAT calculator in 2024, reverse value-added tax of United Kingdom, UK

Rerverse calculator of the VAT in UK 20%, 5% or 0% free reverse calculator of VAT in United Kingdom in 2024

www.calculconversion.com

 

[andybk]

Online VAT calculator

Online VAT calculator is fast and easy net amount calculator. VAT Calc Online: to calculate VAT just type the amount and press the button.

vatcalconline.com

 

[spanners and hammers]

dont you have to then deduct the number you first thought of

 

[Barleymow]

Dividing the final total by 6 gives you the 20% vat total

 

[Bald Rick]

for the holiday let

Pfft ........

Charge 20% VAT, pocket the 15% as a "bonus" & give HMRC one quarter of the charged VAT (makes the maths easy).

Jeez

 

[nickwiley]

sorry i'm pretty sure i've asked this before then forget ....i need to reverse calculate 5% from a gross number,,,eg if 120 is total including vat what's the net

To reverse calculate the net amount from a gross number that includes a 5% Value Added Tax (VAT), you can use the following formula:
Net Amount=Gross Amount(1+VAT Rate)Net Amount=(1+VAT Rate)Gross Amount
In your case, where the gross amount is 120 euros and the VAT rate is 5%, the calculation would be:
Net Amount=120 euros(1+0.05)Net Amount=(1+0.05)120euros Net Amount=120 euros1.05Net Amount=1.05120euros
Now, calculate the result:
Net Amount≈120 euros1.05≈114.2857 eurosNet Amount≈1.05120euros≈114.2857euros
So, the net amount, excluding the 5% VAT, is approximately 114.29 euros. If you have any more questions or if something is unclear, feel free to ask!

 

[David1968]

To reverse calculate the net amount from a gross number that includes a 5% Value Added Tax (VAT), you can use the following formula:
Net Amount=Gross Amount(1+VAT Rate)Net Amount=(1+VAT Rate)Gross Amount
In your case, where the gross amount is 120 euros and the VAT rate is 5%, the calculation would be:
Net Amount=120 euros(1+0.05)Net Amount=(1+0.05)120euros Net Amount=120 euros1.05Net Amount=1.05120euros
Now, calculate the result:
Net Amount≈120 euros1.05≈114.2857 eurosNet Amount≈1.05120euros≈114.2857euros
So, the net amount, excluding the 5% VAT, is approximately 114.29 euros. If you have any more questions or if something is unclear, feel free to ask!

You made that look 10 times more complicated than it needs to be.

Are you my old maths teacher?