Jacqui Too Posted June 27, 2009 Share Posted June 27, 2009 I'm sitting here doing the dreaded VAT and I have several bills that are just total paid with no breakdown of VAT content.I was OK with 17.5% as I had the formula X7 then / by 47 and that gave me the vat content, but now it is 15% I am temporarily flummoxed[blink]Can some kind person put me out of my dilemma and give me the formula (which was given in the VAT notes when the change over happened, but now mislaid)Thank you Link to comment Share on other sites More sharing options...
cooperlola Posted June 27, 2009 Share Posted June 27, 2009 Divide the full amount by 100, plus whatever percentage the VAT is - thus you get 115 in this case. To find the VAT element, multiply the result by 15 (or whatever percentage the rate is) - or 100 for the non-VAT bit. EDIT:There probably is a formula but with this method you can adjust it if the rate changes again. But then I'm not the most numerate person about so I've no doubt a maths whizz will have a better answer.2nd Edit : See, somebody has![:)] Link to comment Share on other sites More sharing options...
Anton Redman Posted June 27, 2009 Share Posted June 27, 2009 15 over 115 = 3 over 23 Link to comment Share on other sites More sharing options...
Jacqui Too Posted June 27, 2009 Author Share Posted June 27, 2009 [quote user="cooperlola"]Divide the full amount by 100, plus whatever percentage the VAT is - thus you get 115 in this case. To find the VAT element, multiply the result by 15 - or 100 for the non-VAT bit.[/quote]OK I will try that and be back later with a thank you[:)] Link to comment Share on other sites More sharing options...
Devon Posted June 27, 2009 Share Posted June 27, 2009 I just divide the total figure by 7.666 to get the 15% VAT Link to comment Share on other sites More sharing options...
Jacqui Too Posted June 27, 2009 Author Share Posted June 27, 2009 [quote user="Jacqui Too "][quote user="cooperlola"]Divide the full amount by 100, plus whatever percentage the VAT is - thus you get 115 in this case. To find the VAT element, multiply the result by 15 - or 100 for the non-VAT bit.[/quote]OK I will try that and be back later with a thank you[:)][/quote][:$]I have tried several times and I keep being 12p out on the vat!!Right, The total is £ 1,297.55, I divided that by 115 and I get 11.29 multiply that by 15 and I get £169.35 (VAT)so to see if that is right I subtracted that (169.35) from total (1,297.55) and I get £1,128.20 (goods before Vat)Then I have all the 3 figure I need, but they are 12p out!! £1,128.20+ vat is = £1,297.43 (12p out) AhhhhgggrraahhhWhat am I doing wrong?[:'(] Link to comment Share on other sites More sharing options...
Jacqui Too Posted June 27, 2009 Author Share Posted June 27, 2009 [quote user="Devon"]I just divide the total figure by 7.666 to get the 15% VAT[/quote]Thanks DevonYour formula worked to within 1p and thats good enough for me.[:)]Thank you every one for spending time to help a mathematical dunce! Link to comment Share on other sites More sharing options...
Anton Redman Posted June 27, 2009 Share Posted June 27, 2009 Do the multiplication first then the division but in any case :VAT = 169.25 not .35Goods = 1128.30 not 20 Link to comment Share on other sites More sharing options...
cooperlola Posted June 27, 2009 Share Posted June 27, 2009 [quote user="Jacqui Too "] What am I doing wrong?[:'(][/quote]Following my advice, I expect! I should try what the others suggest and see if that works better. But I can't see why it doesn't add up because if you divide by 115 then you have 100 x 115ths and 15 x 115ths so it must add up to 115 115ths, if you get my drift! But I'm not too good at explaining myself as I'm not much of a teacher. Edit : Glad the others are better at this than me and you got there, which is all that matters.[:)] Link to comment Share on other sites More sharing options...
Devon Posted June 27, 2009 Share Posted June 27, 2009 [quote user="Jacqui Too "] [quote user="Devon"]I just divide the total figure by 7.666 to get the 15% VAT[/quote]Thanks DevonYour formula worked to within 1p and thats good enough for me.[:)]Thank you every one for spending time to help a mathematical dunce![/quote] The larger the figure you need the VAT on, the more decimal places you need for the 6. For example, if you want the VAT in £11,500.00 divide by 7.66666 Link to comment Share on other sites More sharing options...
Jacqui Too Posted June 27, 2009 Author Share Posted June 27, 2009 [quote user="Devon"][quote user="Jacqui Too "] [quote user="Devon"]I just divide the total figure by 7.666 to get the 15% VAT[/quote]Thanks DevonYour formula worked to within 1p and thats good enough for me.[:)]Thank you every one for spending time to help a mathematical dunce![/quote]The larger the figure you need the VAT on' the more decimal places you need for the 6. For example, if you want the VAT in £11,500.00 divide by 7.66666[/quote]Thanks thats just the formula I needed and have written it down on the front of my VAT folder.[geek]See when in a pickle I know were to come[:)]This forum is sooo helpful Link to comment Share on other sites More sharing options...
Chancer Posted June 27, 2009 Share Posted June 27, 2009 Figures for 19.6% and 5.5% anyone? [6] Link to comment Share on other sites More sharing options...
Anton Redman Posted June 27, 2009 Share Posted June 27, 2009 .16388 or 49 over 299 0.052133or 11over 211 Link to comment Share on other sites More sharing options...
Missy Posted June 27, 2009 Share Posted June 27, 2009 To find the VAT element in a total amount of the facture you do :Total amount of facture divided by 1.196 if the VAT is at 19.6% or 1.150 if at 15% or 1.055% if VAT at 5.5%What ever the result of this will be the net amount of the facture, then multiply this net amount by 0.196 (19.6%) or 0.115 (15%) or 0.055 (5%) which will show the actual VAT amount. Link to comment Share on other sites More sharing options...
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