Thread: Excel: Calculating VAT
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Old 28-01-2009, 19:20   #18
SMHarman
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Re: Excel: Calculating VAT
Quote:
Originally Posted by LSainsbury View Post
So how comes when in calc you do the calculation of 30-17.5% = Net £24.75 / VAT=£5.25?

Now confused!!!!!
The 30 is 117.5% of the net not 82.5% 7/47th as a fraction.

If you want to do it that way it is 30-14.89361702127659574468085106383% (or 40/47ths)

Now it is 15% the vat fraction is 3/23rds

---------- Post added at 13:20 ---------- Previous post was at 13:17 ----------

Quote:
Originally Posted by LSainsbury View Post
Bump!

Not used my Overtime sheet for a while - had minimal expenses just been put through the tin, but this month I have a few so back to the Excel sheet.

It currently has this formula to work out VAT:

=SUM(E19/1.175)

I take it that should now read this since the rate has changed:

=SUM(E19/1.150)

Correct???
What you really should do for clarity is put a line in it that says VAT RATE and then type the % in the box next to it and then refer all the VAT calcs to that number) Say it is in A27 that woudl be =sum(E19/(1+$A$27))
It's bad spreadsheet practice to put variables in as fixed numbers in multiple cells.
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