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Help Required Vat formula Calculation

berni888 Avatar
8y, 1w agoPosted 8 years, 1 week ago
Could someone give me the formula to work out the VAT from Gross figure? I used to use Gross figure multiplied by 7 and then divided by 47.

Hopeless at Maths, so help appreciated!

Cheers
berni888 Avatar
8y, 1w agoPosted 8 years, 1 week ago
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1 Like #1
Just do what you used to do then take 2.5% from the gross figure and take that off your total including the 17.5%. I think:oops:
I know that is not a good calculation but i too am hopeless at maths.
1 Like #2
10% then 10% of that?

eg 150 / 10 = 15
15/ 10 = 1.5
total =16.5
#3
badgerrules
Just do what you used to do then take 2.5% from the gross figure and take that off your total including the 17.5%. I think:oops:
I know that is not a good calculation but i too am hopeless at maths.

Thanks, but I'm trying to do it in one cell in exel and not very good at amending it to do more that divide and multiply. : )
2 Likes #4
Divide the price by 1.175 and then times (multiply) by 1.15 to get the new price. Hope this helps.
1 Like #5
Multiply the figure by 0.15 for the new vat or 0.175 for 17.5% this gives you the amount of VAT paid, then you subtract that from the original figure so

£100*0.15 = £15

100- 15 = £85

hope this is what you wanted
#6
rellis3
Multiply the figure by 0.15 for the new vat or 0.175 for 17.5% this gives you the amount of VAT paid, then you subtract that from the original figure so

£100*0.15 = £15

100- 15 = £85

hope this is what you wanted

Thanks very helpful and correct but that's to work out the vat when you know the net figure. I need to work out the vat from the Gross figure.
banned 1 Like #7
rellis3
Multiply the figure by 0.15 for the new vat or 0.175 for 17.5% this gives you the amount of VAT paid, then you subtract that from the original figure so

£100*0.15 = £15

100- 15 = £85

hope this is what you wanted


that doesn't work does it?
as £85 + 15% doesn't = 100

I think its just divive by 1.15

100 / 1.15 = 86.95
86.95 + 15% = 100

(roughly)
#8
windychef
Divide the price by 1.175 and then times (multiply) by 1.15 to get the new price. Hope this helps.

Thanks also, but I've tried this and it doesn't work in my spreadsheet. I am not good with excel either, but it's definitley not the formulae I'm looking for.
#9
colinsunderland
that doesn't work does it?
as £85 + 15% doesn't = 100

I think its just divive by 1.15

100 / 1.15 = 86.95
86.95 + 15% = 100

(roughly)

That's it! The spreadsheet now works. Cheers to everyone for taking the time to reply and get me on my way!
#10
no probs
if your gross figure is say £100 , divide this figure by 1.15 which takes the 15% vat off then multiply it by 15% to calculate the vat figure.
da dar !
1 Like #11
The correct way is: 3 divided by 23!

Ref: HM Revenue & Customs.
banned#12
berni888;3620015
That's it! The spreadsheet now works. Cheers to everyone for taking the time to reply and get me on my way!

thought you wanted the VAT, not the net amount?

VAT formula from gross is

@sum(gross-(gross/1.15))
banned 1 Like #13
ifyoudontask?;3620090
The correct way is: 3 divided by 23!

Ref: HM Revenue & Customs.

:w00t::?

I think you mean gross multiplied by 3 then divided by 23
#14
csiman
thought you wanted the VAT, not the net amount?

VAT formula from gross is

@sum(gross-(gross/1.15))

So glad I checked back on thread, how're you guys to help if I don't know myself what I'm asking! I've knocked up a spreadsheet to tackle the same sum in various ways and I got myself confused (easily done) so the end sum was correct but when I looked at the vat and the net, the figures should've been in each others columns, but I'm getting it sorted now! Cheers
#15
csiman
:w00t::?

I think you mean gross multiplied by 3 then divided by 23


" For any sales od standard-rated goods or services that take place on or after 1 December 2008 you should charge VAT at the new rate of 15%. This means that cash businesses which currently calculate their VAT using the VAT fraction of 7/47 should, from 1 December 2008, use the new VAT fraction of 3/23."

HM Revenue & Customs.
#16
:thumbsup:Sorted!
Net £100, to get Vat [COLOR="Red"]Net * 15%[/COLOR] = £15 Gross £115 (* means times)
Gross £115 to get vat [COLOR="red"]Gross /23 *3[/COLOR] = £15 (/ means divide)
1 Like #17
the easiest way to work out the price is to multiply the total cost by 0.978 that will equal the new price

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