Working out Net Amount when I only have VAT total
columbia
Registered Posts: 580 Epic contributor 🐘
Hi
If I have a figure showing the total amount of VAT, (in this case £167.56) what is the formula for working out how much the net total was?
Thanks
Tracy
If I have a figure showing the total amount of VAT, (in this case £167.56) what is the formula for working out how much the net total was?
Thanks
Tracy
0
Comments

I can get you the gross figure!
VAT amount/7 x 47. To get the net just take off your VAT amount!
EG.
17.50 VAT/7 x 47 = 117.50 (Gross)  17.50 (VAT) = 100 (Net)
:001_smile::001_smile:0 

Divide by 117.5 then multiply by 17.5.0

Thanks Guys
Rebeccas yours was the formula I needed as I knew the vat amount but needed to convert it back to net.
Thanks everyone else!
I had a complete brain freeze, I know you /47 x 7 to work out the vat element from the gross and to x the net amount by 1.175 to add on vat I just didn't remember to take the vat amount and /7*47 and /1.175 to work out the net.
Weird thing is I have already applied it a few times this week, but totally forgot it this afternoon when I really needed it!
Thanks again everyone.
Tracy0 
Hi
Try the following way
Net Amount= £100 and VAT is 17.5 This means,for 17.5 the net amount is 100.(100/17.5)How much is for 167.56? (100/17.5*167.56=957.49)
Answer(net total=957.49)
Now find 17.5% of 957.49 You will get 167.56
Thanks
Dheepa.0 
Thanks Dheepa
That is very helpful, I always get confused when I have to work backwards on problems!
Cheers again guys!
Tracy0 
VAT calculations
Hi guys
Fo info I always use the following ways:
Net x 0.175 = VAT element
Net x 1.175 = Gross
Gross / 1.175 = Net
VAT element / 17.5 x 100 = Net amount
Hope this helps0
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