Find VAT Values Instantly
This online VAT calculator shows you how to calculate VAT with the net and gross amounts. It shows how much tax there is in a purchase to subtract for your accounts or the value you should add to an amount to produce the gross value.
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Either enter the net or gross amount depending on your requirements and press calculate to see the input VAT charge by HMRC.
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Copy and paste the following code into your website and the widget as shown will appear on your site and work as it is here.
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If you like this widget you may also like our mortgage repayment calculator widget that you can also add for free to your website.
The current standard VAT rate is 20% and previous rates were:
- 15% from 1st December 2008 to 31st December 2009.
- 17.5% from 1st January 2010 to 3rd January 2011.
- 20% from 4th January 2011.
There are some exceptions as noted below:
- Zero rated items such as children's clothes and some food.
- Exempt such as bank interest paid and received.
- Reduced rate of 5% for some energy saving products such as solar panels are installed in your home.
- VAT rate for electricity or gas for domestic premises is 5%. Businesses pay 20%.
To calculate VAT, just select the rate you want on the calculator above. Businesses that are not registered for VAT should not charge it. You have to register if your turnover for the previous 12 months is over a certain threshold. The current rate is £79,000.
How to Calculate VAT at 20%
If you have a gross amount and want to determine the net value simply divide the gross value by 1.20 and this provides the value without VAT included. For example, an invoice that includes VAT totalling £150 would have a VAT amount of £25 and the net would be £125 - this is calculated by dividing £150 by 1.2 which gives the net value of £125 - the difference being the VAT at 20%.
If you have figure you want to add VAT to, multiply by 0.20% to find the VAT value or 1.20 to find the gross value including VAT. For example an invoice of £125 multiplied by 20% provides a VAT figure of £25.
The net amount is the value you use in your accounts for purchases and sales if you are a VAT registered company.