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| *The Commerce Journal>>>United Kingdom Taxes |
If i invoice someone 拢217.00 how do i work out how much vat to charge them i ? |
If i invoice someone 拢217.00 how do i work out how much vat to charge them i ? 17.5% is it including Vat or not? 217x 1.175 = 254.97 you only need to if you're registered for VAT. are you? Multiply by 1.175 to give the 拢217 plus VAT. 17;5% it should equal 拢37;97 and a half pence If you are adding VAT onto 拢217.00 just add 17.5% which comes to 拢254.98. multiply 拢217.00 by 17.5% = VAT, add that to 拢217.00 for your total You key in 拢217 then multiply by 0.175 giving an answer of 拢37.97 VAT add that to the original price, You have to be VAT registered to charge it if not just include it in the price 拢217.00 +17.5% = 拢254.97 I don't know which country you are in - but if you have the same value added tax system that we do in the uk , then you have to charge 17.5% as this is what inland revenue will use when assessing how much you owe them. You only need to do this if you are registered to pay VAT on the goods you sell. If you are not liable tell the purchaser that you are "VAT Exempt". vat calculator or read the HMRC rules, but don't give them any personal details if you send something to them. they'll just loose it. |
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