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Please can someone tell me what is 17 1/2% of £2,922.50p
Many Thanks.
Many Thanks.
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![[x] These checkboxes suck](https://community.cdnppb.net/resources/images/unisex_v4b.gif?ver=4006)
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if you bought something for £2922.5 you have paid £375.69 VAT, not £511.44 that is the amount you would add if the item is to be sold and you want to add VAT to it.
if you have sold it then the VAT payable is the £375 then. Do not give the taxman $454 or whatever it was.
Work it out like this:
(sale price including VAT / 117.5 ) x 100 = price without VAT.
Work it out like this:
(sale price including VAT / 117.5 ) x 100 = price without VAT.
divide by 117.5 then multiply by 17.5 to find the vat portion
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