Stealthbomber Posted May 23, 2008 Report Share Posted May 23, 2008 FWIW, the easiest way to work out VAT is Price x 1.175 or price / 1.175 Link to post Share on other sites
Rob15 Posted May 23, 2008 Report Share Posted May 23, 2008 I prefer the other way, i've been using it in accounting for the last 3 years so i won't be using that method Link to post Share on other sites
Angry Posted May 23, 2008 Report Share Posted May 23, 2008 That method being the easy one? Link to post Share on other sites
McMadkat Posted May 23, 2008 Report Share Posted May 23, 2008 I picked mine up for £320 in Guernsey, they say with VAT and everything including postage it would be £385 You getting it posted to you? Current import fees are 25.5% from the channel islands which means that it will cost you £401.60 And you have to add at least £10 postage. So you are looking at £410 shipped to the UK. Channel islands are not part of the EU, so you pay full import duties. Link to post Share on other sites
Sale Posted May 24, 2008 Report Share Posted May 24, 2008 FWIW, the easiest way to work out VAT is Price x 1.175 or price / 1.175 Umm... I didn't get what you meant with the smiley, so allow me to clarify: Price / 1.175 gives you any UK price without the VAT. This is the correct way. A common mistake is to deduct the VAT like this: Price x 0.825. Price x 1.175 tells you nothing if you're comparing prices within the UK (all including VAT already). It's handy for calculating how much VAT you will pay if you're getting a parcel from outside of the EU. -Sale Link to post Share on other sites
Stealthbomber Posted May 24, 2008 Report Share Posted May 24, 2008 Price x 1.175 tells you nothing if you're comparing prices within the UK (all including VAT already). It's handy for calculating how much VAT you will pay if you're getting a parcel from outside of the EU. A lot of retailers display pre-VAT prices. They do that so that a person who can claim VAT back can see how much they'll be paying. Course, it's also a slippery way to appear that you're offering cheaper prices as well. I just meant that multiplying or dividing by 1.175 was a bit more straightforward than dividing by 117.5 and multiplying by 100 (or whatever ). Link to post Share on other sites
Sale Posted May 25, 2008 Report Share Posted May 25, 2008 Ah, displaying pre-VAT prices in a normal retail store would be illegal in Finland. I didn't think of that. -Sale Link to post Share on other sites
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