vat

[missprim]

I have just bought something on-line which cost �10.99 INC VAT.
When I got to the checkout it said.
Sub Total �10.99
Shipping � 4.99
VAT 15% � 2.08
-----------
Total �15.98

Where do they get this �2.08 from if the item is INC VAT

Hope you can help.

[bednobs]

they are just showing you the actual amount of vat you have paid of course - 10.99 plus 4.99 equals 15.98. of that 15.98, 2.08 is vat, they havent added it on again

[missprim]

Thanks for that bednobs.It didn't occur to me that that's what they had done.

[factor-fiction]

The total price was �15.98
The elements were subtotal 10.99 and shipping 4.99. That's a total of �15.98.
No problem.

The price net of VAT would have been �15.98/1.15= �13.90
Bydeducting 13.90 from 15.98 the VAT is 2.08
Or, using the 3/23rds rule for 15% VAT, the VAT is �2.08.

Everything tallies