Help! How do I work out the VAT from a Total?

pazza2000

Hello,

Maybe a simple question for some of you, however I can not seem to find the calculation/sum online to work the VAT back...

I have a heap of invoices showing nett totals only, & for our accountants reference I need to show the VAT(20%) beforehand. So for example, what was the VAT to give an invoice total of £22,000...?

Thanks

JoeyG

total / 1.2 = VAT

relic

If the invoices are net, then they won't have included VAT.

pazza2000

They do include VAT. We need to show it... the supplier(cars) is simply providing too basic an invoive showing an invoive total only. We need to show the VAT on this, even just simply hand written on the actual invoive.

Thanks

relic

pazza2000 wrote: »

They do include VAT. We need to show it... the supplier(cars) is simply providing too basic an invoive showing an invoive total only. We need to show the VAT on this, even just simply hand written on the actual invoive.

Thanks

So they show the gross only, not the net as said on your first post.

Joey has left a calculation to work out the net amount.

martindow

Anything over £250 should show separately nett and VAT. Under £250 they can show a gross figure but the VAT number should be on there, but I think this is only intended for retail sales.

http://www.hmrc.gov.uk/vat/managing/charging/vat-invoices.htm

I would ask your suppliers to give you proper invoices to avoid any problems if you had an inspection.

pazza2000

Thanks. I knew it was simple.

Most invoives do have the VAT listed, a few have not.

Yes it is the gross amount, I guess because the VAT can be a funny number they just ignore it on invoices.

bris

You can also divide it by 6 to give you the vat element
22000 / 6 = 3666.67
Excluding vat 18333.33
vat 3666.67
total 22000

moneypooh

I divide by 6 too - really easy

paddyrg

It is up to the supplier to give you a formal vat invoice - if you tell them you'll pay them when they provide you with one, you usually get one by return email...

If you guess or assume the VAT, especially on a large invoice, you can get into a terrible mess if you're audited.

Premier_2

You should report any VAT registered individual or company that is not automatically giving you a fully compliant VAT invoice. (except low value retail sales ... but even they they must supply a vat receipt on request)

http://www.hmrc.gov.uk/tax-evasion/index.htm