Vat Fraction.

[6538]

When VAT was 17.5% you worked out the pre-VAT cost of an item as 7/47ths. So, £117.50 divided by 47 and the result multiplied by 7 lkeft the VAT amount of £17.50 meaning the item cost £100 before VAT. At 15% is was 3/23rds. What is it now that it's 20% VAT?

[rahhhh]

1/6

[Jie Bie]

When VAT was 17.5% you worked out the pre-VAT cost of an item as 7/47ths. So, £117.50 divided by 47 and the result multiplied by 7 lkeft the VAT amount of £17.50 meaning the item cost £100 before VAT. At 15% is was 3/23rds. What is it now that it's 20% VAT?

5/6ths for the pre VAT cost (i think...).

[6538]

1/6

Of course it is - how thick am I being today?

[Number79]

Of course it is - how thick am I being today?

very

[southmartin]

Of course it is - how thick am I being today?

Stay by your phone, expect a call from Mr G. Osbourne with an offer of employment

;-)

[fellow]

Just divide the full amount by 1.20 (1.2) and you'll get the pre-VAT amount

Any VAT rate of V will work (1.V) so when it hits 25% use 1.25,etc

Easy.

Buckers

+1

I have always added percentages by multiplying by, for example 1.175 (for 17.5%), and dividing by the same amount to take it off again.

[IAS29]

13/78

Hope that helps