Percentage

How do work out what the VAT is from a total cost?

Knowing that the rate is 17.5%

I want to work out what the cost would be with the new 15% rate


I thought I had it but when I calculated back again it didn't work

 

Divide by 117.5, multiply by 100 and that'll give you the price without VAT.

 

16 years since I last ran a business

but 7/47ths sping to mind

 

Ah cheers....

Works out close to £100 less with the VAT change once I've argued wth them that the kitchen I've not paid for yet should be subject to the new rate and not the old one. He was saying it was based on the figures when we were doing the planning....I think not, it's a tax and nowt to do with their costings....he can **** right off on that.

 

Total x 1.175 and then work out the difference for 17.5%

Then same but with 1.15 for 15%.

I think thats right...

 

thats 1.175 nt

 

cheers...sorted

apart from divide initial figure by 1.175 and then multtiplied that by 1.15 to get the new figure