VAT Calculator

VAT Calculator

20%

VAT Calculation Result

VAT Calculator

We warmly welcome you to our site. This site is providing you with a VAT calculator UK (VAT on calculator, VAT tax calculator) to find VAT because standard VAT rates may change. In this article, we will guide you on how to remove(reverse, subtract, deduct) VAT from the gross amount or how VAT is added to the net amount.

The current standard VAT rates(inclusive, exclusive) are 20% in the UK, and on December 1, 2008, the VAT rate was reduced to 15%, but on January 4, 2010, again increased to 17.5%. The online VAT calculator is also available on our site. This tool is free for everyone who is willing to find VAT, and you can even change the VAT rate according to your need, but keep in mind that 20% is the standard VAT rate.

Man Thinking About UK vat calculator

What is VAT?

VAT(Value Added Tax) is a tax imposed on goods and consumer sales. Businesses in the UK(United Kingdom) usually pay VAT based on their annual sales. The tool available on our site allows you to effortlessly “add VAT” or “remove VAT.”

The VAT includes the amount charged to consumers, excluding the VAT the company paid when purchasing the raw material. The current VAT rate is 20% in the UK(United Kingdom), but there are two more VAT categories. The first is a reduced rate of 5%, and the second is the Zero rate.

Let’s explore the reduced rate of 5%. The government introduced it to promote trading. Services under this category are hotels, zoos, cinemas, pubs, concerts, shows, fairs, and cultural events.

Another type of tax is the zero rate, which is not payable by consumers. However, businesses can claim their tax because they paid tax to make that product or service. Goods under this category are advertisements for charity, books, newspapers, baby wear, sanitizers, and many more.

VAT Calculator Flat Rate

Many businesses pay taxes and spend time calculating VAT. If you want to save time and energy, use the flat rate scheme. It is a fixed percentage of tax payable to HMRC by businesses on their annual sales.

Frequently Asked Questions (FAQs)

The standard rate of VAT currently in the UK is 20%. In 2011, it was 17.5 and then increased to 20%. It is imposed on most goods and services.

In order to calculate VAT-inclusive(at standard rate), multiply the original value by 1.2, and VAT-exclusive(at a reduced rate), multiply the value by 1.05. This is how you can calculate VAT in the UK.

The percentage of VAT in the UK is 20%, which is the standard VAT rate.