Is there a sum to work out how to take of VAT?

Question

My dad has asked me to post this question. He said that there is a simple sum to work out how to take of VAT, but I haven't got a clue! Can anyone help?

Answer 1

Divide by 1.175 to get the amount without VAT (assuming a VAt rate of 17.5%, which is NOT universally true.)

Answer 2

The easiest method for imputation is:

A*B divided by B+100

A = Price inclusive of VAT
B = Tax Rate (17.5)

You will get the VAT component of the VAT inclusive price.

Cheers.

Answer 3

VAT is 17.5%.

Divide the amount by 100 and then multiply the answer by 17.5.

Take that amount away from the original amount.

I don't know if thats the quickest way but it works for me!

Answer 4

Yes, you need to find 17.5% which is the rate of VAT and subtract it. So, if for example the amount is £120, you do 17.5 divided by 120 which is 0.1458, then multiply this by 100 = 14.58, or £14.58. You can then subtract this: £120 - £14.58 = £105.42.
Hope this helps!

Answer 5

its something like divide by 48 multiply by 7.(i used to use something similar to this but forgotten it or use

To find the amount of a bill before VAT at 17.5% was added, multiply the amount including VAT by 100 and divide the result by 117.5.

Answer 6

I times total by 7 then divide by 47. It works.

Answer 7

Easy sum to remember.

Say the total is £250

Take 10% = £25
Half that = £12.50 (5%)
Half that = £6.25 (2.5%)

add all together £43.75 (17.5%) !

Answer 8

Unfortunately not, Fermat's theorem states that dividing any number by 1.175 will leave you with the divine number.