VAT gets charged every time value is added as a product is made or a service is delivered. Now, let’s know what is the answer to £10 Plus VAT. Now if we use the standard VAT Rate(20%) then the Gross Amount would be £12.00 and the VAT amount would be £2.00.
| Initial Value | VAT Rate | VAT Amount | Gross Amount |
|---|---|---|---|
| £10 | 20% | £2.00 | £12.00 |
Check Out our VAT Calculator for accurate data
0%
Advertisement
Result
Net Amount: £0.00
VAT: £0.00
Gross Amount: £0.00
Difference (Gross - Net): £0.00
History
10 Plus VAT
VAT Added Gross amount = Initial Price x (1 + VAT percentage)
Simply:- £12.00 = £10 x (1 + 20%) or £10 x (1 + 20/100)
Let me tell you another way to calculate £12.00
For example: Let’s say a product costs £10 before VAT.
- £10 (product cost) x 20% (VAT rate) = £2.00
- So the total price with VAT is: £10 (product cost) + £2.00 (VAT) = £12.00
