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Knowledge Base

Working out VAT

 
Taking-off VAT (Tax) from a price.
This is the calculation you need to use when you know a price after tax (the Gross price) but want to find out the price before tax (the Net price).
 
17.5% (from 1st Jan 2010 to 4th Jan 2011)
If we assume that VAT is at a rate of 17.5%...
Gross price is
divided by
1.175
= Net price or price before tax
 
Changes in vat rates

20% (from Jan 4th 2011)
If we assume that VAT is at a rate of 20%...
Gross price is
divided by
1.2
= Net price or price before tax
15% (from 1st December 2008 - 31st December 2009)
If we assume that VAT is at a rate of 15%...
Gross price is
divided by
1.15
= Net price or price before tax

Disclaimer

The content and advice is for information only. Last updated 09.11.2010.

For up to date information and advice, based on your specific circumstances, please contact us.

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