Tax Calculations

Hi all,

I seem to have got myself confused while studying Indirect Tax.

In what scenarios are the following calculations used, with standard rate VAT being used;

£100 * 120 x 100 = £83.3333

£100 x 0.2 = 20


  • cblakey
    cblakey Registered Posts: 6
    Thank you very much. I had a feeling there was a simple explanation.

    I blame baby brain.
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