the sum for 15% VAT

[impact5]

how do you work out 15%for vat purposes the decimal . it was 6-7143 for 17.5% what is it for 15%

[4getmenot]

x amount by 0 .15

[4getmenot]

so 15% of �100.00 is 100x0.15 = 15

[Buenchico]

You seem to be doing things a very strange way round!

To calculate the amount of VAT on something:
Multiply by 0.175 (for 17.5%) or 0.15 (for 15%)

To calculate a price inclusive of VAT (starting from the non-VAT figure):
Multiply by 1.175 (for 17.5%) or 1.15 (for 15%).

To calculate the non-VAT price (starting from a price including VAT):
Divide by 1.175 (for 17.5%) or 1.15 (for 15%)

Chris

[impact5]

thats when you add vat... i need to know... , what vat i have to pay on 147-89 say

[ChuckFickens]

147.89 * 0.175 = 25.88

[Im a BusyBee]

at 17.5% it was divide the figure by 47 and x 7. What will it be at 15%??

[4getmenot]

�147.89 x 0.15 = �22.18

[ChuckFickens]

sorry for the 15% vat it would be

147.89*0.15=22.18

[eltelioni]

Or:

divide amount by 6.6667

though multiplying by 0.15 is easier

BTW the divisor for 17.5% is 5.7143 not 6.7143

[Buenchico]

To calculate the VAT element of a price which already includes 15% VAT, use one of these methods:

Method 1: Multiply by 15 and divide by 115. (That's exact)

Method 2: Multiply by 0.13043. That's not exact but it's given to 5 significant figures, so it's good enough unless you're working with exceptionally large sums of money. Your (incorrectly stated) multiplier for 17.5% used a similar degree of accuracy.

Method 3: Calculate the non-VAT price by dividing by 1.15, and then subtract that from the VAT inclusive price. (That's an exact method).

Chris

[R1Geezer]

for info the old fraction to represent the proportioin of vat in and amount, 7/47ths needs to be replaced by 3/20ths.

[dundurn]

I think R1Geezer meant 3/23 i.e. 15/115 simplified by dividing numerator and denominator by 5

[R1Geezer]

yes 3/23rds!

[impact5]

thanks everyone

[Naomicorlett]

15% do it like this..........10% of total + 1/2 of the 10%
eg �436 10%= �43.60
( + 1/2 ) = �21.80
Vat at 15% =�65.40

TADAH No calculator needed it's easier than 17.5%

[BigDave44]

Why not simply refer to the oracle :

http://www.hmrc.gov.uk/vat/reclaim-howto-calc. htm

[spudqueen]

Naomicorlett - it was just the same when it was 17.5 % - 10 % then half of that then half of that! Eg �200, 10 % is 20, half of that is 10, half of that is 5, add it all together and you've got 35!

[Naomicorlett]

Yay Spudqueen ! It's good to use our brains! Yes I used that metod for 17.5% as well. Away with calculators is wot I say!

[Naomicorlett]

or even method.