stoopid ass

kazseera
kazseera Registered Posts: 87 ? ? ?
ok lol i think the more im studying, the more dumber im getting lol
i wanted to know how do you work out the from net or gross

i just dont know the formula.

Comments

  • ccreaven
    ccreaven Registered Posts: 119 ? ? ?
    ?

    do you mean to work out net from gross and to work out gross from net?
  • evil edna
    evil edna Registered Posts: 5 Regular contributor ⭐ ? ⭐
    gross *7/47 = vat
  • ccreaven
    ccreaven Registered Posts: 119 ? ? ?
    to get gross you * net by 17.5%
    to get net you divide by 117.5 then * 17.5
  • evil edna
    evil edna Registered Posts: 5 Regular contributor ⭐ ? ⭐
    gross/1.175 = net
  • Jan
    Jan Registered Posts: 654
    Do you mean how to work out the net figure from gross for VAT?

    If VAT = 17.5% and you have the gross figure, divide by 117.5 and multiply by 100.
    eg if gross figure is £117.50 div by 117.50=1 x 100= £100. You can always check it is correct by multiplying net by 17.5% = VAT. So £100 net x 17.5/100=£17.50 + £100 = £117.50gross
    Another way is multiply by 7/47.
    If VAT = 5% divide gross by 105 and muliply be 100.

    Hope this makes sense!
  • kazseera
    kazseera Registered Posts: 87 ? ? ?
    thank u people good luck for the exam
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