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Absolutely no idea. Why would you use two numbers that bear no relation to the actual rate?
Um. £100.Divide by 100 = 1Multiply by 15 = 15Thus vat at 15% on 100 is 15, making 115
Quote from: Uncle Mort on November 25, 2008, 05:22:32 PMAbsolutely no idea. Why would you use two numbers that bear no relation to the actual rate?In my book keeping practice (arcane as it may be) I want to know the VAT figure first on a bill I've paid where it isn't itemised, not the Nett figure.
It seems that Darling has caught the Inland Rev & Customs out as their web site stilll gives the old method http://www.hmrc.gov.uk/vat/reclaim-howto-calc.htm