Want to work out VAT for yourself
Want to work out VAT for yourself? Well, I'll try to explain how it works. First I'll explain Gross and Nett, and then we'll have a look at the maths& vat calculator. Gross : the Gross price is the price including VAT. Also called "inc VAT". Nett: the Nett price is the price excluding VAT. Also called "ex VAT" or "Net". Work out your ratio ( vat calculator ) These calculations work by multiplying or dividing by a ratio (also called the VAT fraction). The first step is to figure out your ratio - so what is it? Luckily it's very easy to work out. Take your VAT rate, divide it by 100 and then add 1. For example a rate of 20% gives you a ratio of 1.20 (that's 20/100 = 0.2 + 1 = 1.2) That makes it sound complicated so here's a rule of thumb: just put "1." in front of the VAT rate, so 20% becomes 1.20, 17.5% becomes 1.175, and 5% becomes 1.05 If you are in the UK and using a VAT rate of 20% the ratio is 1.20. If you are in ...