2006-12-21 09:34:11 · 9 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United Kingdom
total £1415.09 VAT 247.65 = 1662.74
To find this amount take the 1662.74 divide by 47 then times by 7. this is a fraction that is applied when finding the vat and to add the find out what the vat would be when added to 1415.09 multiply by 17.5%
2006-12-21 09:37:16 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The VAT Fraction is 7/47 to work out the VAT on a total, which would be £247.63. But that assumes that all items on the invoice are subject to VAT. If its for multiple items, some may be zero rated therefore no VAT is payable
2006-12-22 06:54:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Final figure multiply by 7 then divide the result by 47 will give you the VAT element
Now get the calculator
2006-12-21 18:53:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋
if 1662.74 is the gross amount, u multiply it by 7 then divide total by 47, that gives you the VAT element.
hope that helps.
2006-12-25 12:08:06 · answer #4 · answered by Anonymous · 0⤊ 0⤋
£247.64
you divide £1662.74 by 117.5 X 17.5 which will equal £247.64
2006-12-21 17:49:06 · answer #5 · answered by Bob N 1 · 1⤊ 0⤋
who cares?
2006-12-21 17:48:24 · answer #6 · answered by shonkamur 3 · 0⤊ 1⤋
247.65
1,662.75 / 1.175 - 1,662.75
2006-12-21 17:37:16 · answer #7 · answered by uknowhoo 1 · 0⤊ 0⤋
£290.98
2006-12-21 17:42:31 · answer #8 · answered by Anonymous · 0⤊ 0⤋
£247.65
2006-12-21 17:37:02 · answer #9 · answered by Mickey Corleone 3 · 0⤊ 0⤋