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 £317 Plus VAT. Now if we use the standard VAT Rate(20%) then the Gross Amount would be £380.40 and the VAT amount would be £63.40.
| Initial Value | VAT Rate | VAT Amount | Gross Amount |
|---|---|---|---|
| £317 | 20% | £63.40 | £380.40 |
Check Out our VAT Calculator for accurate data
Net Amount: £317.00
VAT: £63.40 (20.00% of net amount)
Gross Amount: £380.40
Difference (Gross - Net): £63.40
History 1 - Net Amount: £317.00, VAT: £63.40 (20.00% of net amount), Gross Amount: £380.40, Difference (Gross - Net): £63.40
317 Plus VAT
VAT Added Gross amount = Initial Price x (1 + VAT percentage)
Simply:- £380.40 = £317 x (1 + 20%) or £317 x (1 + 20/100)
Let me tell you another way to calculate £380.40
For example: Let’s say a product costs £317 before VAT.
- £317 (product cost) x 20% (VAT rate) = £63.40
- So the total price with VAT is: £317 (product cost) + £63.40 (VAT) = £380.40
