Vat formulas

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Sandra - 27 Sep 2006 13:07 GMT

I would like to be able to set up a template for my vat returns each month,
using the correct formulas for total, standard and vat. Can you please help

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Roger Govier - 27 Sep 2006 13:30 GMT

Hi Sandra

With Vat rate in A1 as a percentage e.g 17.5% for Standard or 5% for
Lower
If you want to go from Gross figure to Net of VAT figure, then with
Gross in B1
=B1/(1+A1)
If you want to Know the amount of VAT contained within the Gross figure
then
=B1-(B1/(1+A1))

If you are going from Net of VAT figure to Gross, then
=B1*(1+A1)

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Regards

Roger Govier

>I would like to be able to set up a template for my vat returns each
>month,
> using the correct formulas for total, standard and vat. Can you please
> help

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Sandra - 27 Sep 2006 16:49 GMT

Roger

Thanks for your help but I am a complete beginner who has always hand
written and worked out the vat by calculator. Recently my son said I should
get excel because it would make life much easier. I am not particularly IT
literate so its all very confusing for me.

Thanks

Sandra

> Hi Sandra
>
[quoted text clipped - 14 lines]
> > using the correct formulas for total, standard and vat. Can you please
> > help

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Bob Phillips - 27 Sep 2006 17:05 GMT

Sandra,

Firstly put the VAT rate in a cell, say A1, as a percentage. For instance,
type 17.5% in A1

Then, do you want to add the VAT to an amount?
If so, assuming the amount is in B10, then in C10 add

=ROUND(B10*$A$1,2)

If you want to calculate the VAT in an amount?
Again, assuming the amount in B10, then in C10 add

=ROUND(B10-(B10/(1+A1)),2)

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HTH

Bob Phillips

(replace somewhere in email address with gmail if mailing direct)

> Roger
>
[quoted text clipped - 25 lines]
> > > using the correct formulas for total, standard and vat. Can you please
> > > help

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