Value-Added Tax Is a Full Form Of VAT. It's Tax System In Some European Countries In This Tool We Have Given The Best Advanced Features To Calculate Your VAT. In The United Kingdom Current VAT Rate Is 20% And In Other Countries, the VAT Rate May Be Different We Are Noticing Each Country Increasing Its VAT RATE Time By Time Due To The Situation Around The World. In Some Countries, GST The Good And Services Tax System Applies While In The UK It's Called VAT. So In Above Tool If you Are From Any Country Can Just Select Your Country And Put Your VAT Rate So It Will Calculate Your TAX Instantly. You Don't Have To Click On Add VAT And Remove VAT Our Website Will Give You Both Result At a Time.
How To Calculate VAT?
First Step = VAT Rate + 100
(Total Amount / 100) * First Step
Example: 20 + 100 = 120
(2000 / 100) * 120 = 2400 Gross Total Amount
This Amount ( 2400 ) Is your Total Amount.
Total Amount: 2000
Tax Rate: 20%
Tax Amount: 400
Total Amount: 2400
Excluding/Removing VAT Formula
Total Amount = First Step: VAT Rate + 100
Second Step: (Total Amount / First Step) * 100
Example: 15 + 100 = 115
(2400 / 115) * 100 = 2086.96 Total Amount
( 2086.96 ) Is the Total Gross Amount.
Total Amount: 2400
Tax Rate: 15%
Your Tax Amount: 313.04
Your Gross Amount: 2086.96
The standard rate is 20%, the Reduced rate is 5%, And the Zero Rate is 0%. Standard Rate Some Good And Services Tax, Reduced Rate Good And Services Example Children's car Seats And Energy Of Home, Zero Rate Or Zero Items Zero-rate goods and services Tax, Multiple Food Items And Clothes Of children's
HMRC (Her Majesty's Revenue and Customs)
HMRC Value-Added Tax (VAT) Is Taking By (HMRC) Her Majesty's Revenue and Customs From All VAT Registered In The United Kingdom. HMRC Is Getting Taxes After Your Business Registration. Every Business Has its own Unique VAT number. You Can Visit HMRC Site Here For More Information About Your VAT. HMRC