Tomnova16
Premium Member
Registered: 21st Jan 06
Location: Gerrards Cross Drives: Porsche 911
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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
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willay
Moderator Organiser: South East, National Events Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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http://www.contractorcalculator.co.uk/vatcalculator.aspx
google
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Tommy L
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Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
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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]
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Tomnova16
Premium Member
Registered: 21st Jan 06
Location: Gerrards Cross Drives: Porsche 911
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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
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Tommy L
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Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
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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]
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Tomnova16
Premium Member
Registered: 21st Jan 06
Location: Gerrards Cross Drives: Porsche 911
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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
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Tommy L
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Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
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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
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DaveyLC
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Registered: 8th Oct 08
Location: Berkshire
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times by 3 then divide 23
So (115 * 3) / 23 = 15
Sorted
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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No, divide by 23 then times by 3.
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Tomnova16
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Registered: 21st Jan 06
Location: Gerrards Cross Drives: Porsche 911
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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
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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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
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Tomnova16
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Registered: 21st Jan 06
Location: Gerrards Cross Drives: Porsche 911
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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
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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You're late with it, should of been in last day in July.
Wouldnt worry too much though, have handed a few in late.
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DaveyLC
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Registered: 8th Oct 08
Location: Berkshire
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quote: Originally posted by Cosmo
No, divide by 23 then times by 3.
Because that makes such a difference
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Tomnova16
Premium Member
Registered: 21st Jan 06
Location: Gerrards Cross Drives: Porsche 911
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no mate got till end of august to get it in, the 1/4ly ones start from august 1st
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Located in Chalfont st Peter
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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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.
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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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.
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Tomnova16
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Registered: 21st Jan 06
Location: Gerrards Cross Drives: Porsche 911
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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
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jacko198
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Registered: 1st Mar 07
Location: Buckinghamshire
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Number devided by 115 X 100 is what we do at work for cyclescheme quotes
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DaveyLC
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Registered: 8th Oct 08
Location: Berkshire
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That works out the price before VAT, not the value of the VAT
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jacko198
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Registered: 1st Mar 07
Location: Buckinghamshire
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Suppose, but then you just take away that number from the original one, and then you get the vat
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DaveyLC
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Registered: 8th Oct 08
Location: Berkshire
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Yep.. but he wanted the simple equation.
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Welsh Dan
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Registered: 23rd Mar 00
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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
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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working out 3/23rds is just as easy as that.
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Welsh Dan
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Registered: 23rd Mar 00
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No it isn't. 10% of anything is easy, and halving that amount isn't that hard either.
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