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Old 2nd November 2010, 09:09
Sobie Sobie is offline
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Calculating VAT at 20%
Hi All,
What is the new sum to calculate vat backwards at 20% from a total (ie I currently use 7/47 to get total)
Thanks
Rachel
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Old 2nd November 2010, 09:29
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Hi Rachel 2/12ths works
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Old 2nd November 2010, 09:29
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Quote:
Originally Posted by Sobie View Post
Hi All,
What is the new sum to calculate vat backwards at 20% from a total (ie I currently use 7/47 to get total)
Thanks
Rachel
Divide the total by 6.

20/120 = 1/6
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Old 2nd November 2010, 10:15
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Thanks for the answers I can start calculating our new retail prices now.
Rachel.
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Old 2nd November 2010, 10:17
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simpler on a calculator is to divide by 1.2

£100 + VAT at £20 = £120.
£120 / 1.2 = £100

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