NEWS ARTICLE

Calculating VAT from a VAT inclusive price

28 Sep 2017

Sometimes products or services that are VAT taxable are sold at a price including VAT, and the VAT is not shown on the receipt. Photocopying is an example.  The standard rate of VAT is 20% and to calculate the VAT exclusive price, divide the VAT inclusive price by 1.2 

So,

 

if your photocopying has cost you £8.20, the VAT exclusive price is £6.83, and the VAT element is £1.37.

Subject:

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