VAT Rates and Fractions

Nov 18, 2011 - 03:02 pm
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Standard VAT rates and applicable dates:

  • 20% effective from 4/1/2011
  • 17.5% effective from 1/1/2010 until 3/1/2011
  • 15% was the temporary reduced rate between 1/12/2008 and 31/12/2009
  • 17.5% up until 30/11/2008. After this, the reduced rate of 15% was introduced

 

VAT Fraction

The VAT fraction is used to work out the amount of VAT on a gross (VAT inclusive total).

VAT rate

Fraction

Example

15%

3/23

£100 + VAT @ 15% = £115.00

To calculate the VAT element of £115.00….

£115 x 3/23 = £15.00

17.5%

7/47

£100 + VAT @ 17.5% = £117.50

To calculate the VAT element of £117.50….

£117.50 x 7/47 = £17.50

20%

1/6

£100 + VAT @ 20% = £120.00

To calculate the VAT element of £120.00….

£120 x 1/6 = £20.00

 

Link  ::  VAT Calculator - easily add or remove VAT

Further information about VAT can be found at HMRC Calculating VAT for VAT-inclusive and VAT-exclusive prices

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