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VAT Exclusion Calculation--- when to use it?

gabriellenlewisgabriellenlewis AAT Student Posts: 129
in AAT Level 4 (Level 8 in Scotland)
So the calculation for "VAT exclusion" is (Gross Amount / 1 + VAT%) - Gross Amount


But when do you actually use this, what does it actually tell us?

Thanks.

Answers

  • BUSHBUSH Registered Posts: 9
    The following calculation will give you the vat portion. This can be used only if you know the Gross amount.

    GROSS AMOUNT - (Gross Amount / 1 + VAT%)
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