Take
VAT off a price
We
shall work it based on the current new VAT rate of 17.5%.
To add VAT on at a different VAT rate simply replace the 17.5
in the first line with the new relevant VAT rate.
To
begin with you need to work out the divider:
17.5
÷ 100 = 0.175
0.175 + 1 = 1.175
Divider
= 1.175
Gross
Price (Price after tax)
divided by 1.175 = Net
Price (price before tax)
Example:
£11.75
÷
1.175 = £10
In
the above example £11.75
was the price with VAT, and the £10
is the price with the 17.5% VAT removed
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