How to work out VAT
Only 2 easy steps to calculate VAT online
Get VAT exclusive price form VAT Inclusive Price(Substract VAT)
VAT, or Value Added Tax, is applied to most goods and services. In the UK, the standard rate is currently 20% and it will change based on the countries. In some countries there will be multiple VAT rates based on the categories.
- Excluding VAT from gross sum: VAT calculation formula for VAT exclusion is the following: to calculate VAT having the gross amount you should divide the gross amount by 1 + VAT percentage (i.e. if it is 15%, then you should divide by 1.15), then subtract the gross amount, multiply by -1 and round to the closest value (including eurocents). The last two operations are not mandatory since you see the VAT value even before you do them.
- Adding VAT to net amount: Simply multiply the net amount by 1 + VAT percentage (i.e. multiply by 1.15 if VAT is 15%) and you'll get the gross amount. Or multiply by VAT percentage to get the VAT value.
Instructions to the VAT Calculator form
- Use the first form to get the price with VAT
- Enter the exclusive price to the price field and while you typing the inclusive price will populate in the field.
- Use the second form to remove the VAT from a price
- Enter the VAT inclusive price in the field and get the VAT exclsive price and what is the VAT rate