Calculating 20% VAT content of an invoice?

[Ohmyword]

I don't see this type of query anywhere on this site - but if this is repetition, perhaps some "kind soul" will direct me to the correct site?

My question is:- I still receive bills from companies e.g. TalkTalk, that only show a gross invoice total (incl. VAT) but omit to show the 20% VAT element in that cost.

Does anyone out there know the formula to "extract" the 20% content of a gross figure i.e. a figure that is "including VAT"?

I know the formulas for the 17.5% & the 15% VAT but not the 20%.

 

[johnboy6083]

divide by 6 to find the vat amount that has been added on,

if you want to add vat, multiply by 1.2

 

[roukel01]

A very handy site

Online VAT Calculator

 

[andekoch]

Just remember if the invoice does not say it is a vat invoice or show their vat number on it you can't actually claim vat back on it. You need them to send you a vat invoice to legally be able to claim the vat back.

 

[Ohmyword]

divide by 6 to find the vat amount that has been added on,

if you want to add vat, multiply by 1.2

Many thanks for that info. jb. I couldn't believe it was so easy a calculation after using, what seems like, quite random fractions for the 15 & 17.5% VAT elements for quite some years.
I believe I thought, "too easy to be true!"

Some businesses still give you a gross figure, after all this time. I've got a "fuel card" now, but could have done with that years back when the smaller fuel stations just gave you a written receipt. You might have 15 - 20 of them each quarter, depending on how many vans you were running and how much travelling you were doing.

 

[Ohmyword]

Just remember if the invoice does not say it is a vat invoice or show their vat number on it you can't actually claim vat back on it. You need them to send you a vat invoice to legally be able to claim the vat back.

Thanks for that a.

It's good that your advice is on here for all to see

Perhaps I gave the impression of just signing up to be VAT registered. I've been registered for many a long year ;-) It was just the mathematics that caught me out.

Solid bit of advice though - thanks

 

[Ohmyword]

A very handy site

Online VAT Calculator

Thanks r.

I came across this "site" when "googling my problem".

I am of the age where I am hesitant in downloading something that might "take my soul" if I let it into my machine.
I do have someone though that "looks after" my web-site, p.c., and on-line advertising so will give him a call about it.

Thanks

 

[RWJ]

Thanks r.

I am of the age where I am hesitant in downloading something that might "take my soul" if I let it into my machine.
I do have someone though that "looks after" my web-site, p.c., and on-line advertising so will give him a call about it.

Don't go on the sites the alarm guys go on!!!!
Very educationally!!.... Something about hunting clips?!?!?!?

 

[Bradzz]

divide by 6 to find the vat amount that has been added on,

 

[Goody]

I don't see this type of query anywhere on this site - but if this is repetition, perhaps some "kind soul" will direct me to the correct site?

My question is:- I still receive bills from companies e.g. TalkTalk, that only show a gross invoice total (incl. VAT) but omit to show the 20% VAT element in that cost.

Does anyone out there know the formula to "extract" the 20% content of a gross figure i.e. a figure that is "including VAT"?

I know the formulas for the 17.5% & the 15% VAT but not the 20%.

It's straight forward.

If the gross invoice total on the invoice Includes the VAT, that means the figure shown is 100 % (net) + 20 % (vat). Say Y is the gross invoice total than the VAT will be (20xY)/120

Hope this helps!

 

[Martin980]

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<a href="Online Uk Vat Calculator: VAT Calculation Uk 2021 - https://www.vatcalculator.info/uk/">check out this site</a>

 

[telectrix]

It's straight forward.

If the gross invoice total on the invoice Includes the VAT, that means the figure shown is 100 % (net) + 20 % (vat). Say Y is the gross invoice total than the VAT will be (20xY)/120

Hope this helps!

20/120 being 1/6 as said previous. just wait till it goes up to 22.5%.

 

[littlespark]

10 years.
Thought you would have known better, tel.

 

[snowhead]

Too late now the thread is out and alive....???
.

When I was VAT registered a looong time ago, sometime between the Abbacus and the calculator, when it was 15%, the official figure to work backwards was 3/23.
There's always and official figure, as Tel has said 1/6 at the moment with 20%.

 

[Moley]

If you have an android phone theres an app called 'vat calculator' by Joao Ferreira. I used to use it a lot for my expenses in work. You can put in either the amount including VAT or amount excluding VAT and it'll work out the vat. Great free app. I don't use it anymore as when we got taken over back in January our company credit cards were taken away ?