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 £43 Plus VAT. Now if we use the standard VAT Rate(20%) then the Gross Amount would be £51.60 and the VAT amount would be £8.60.
| Initial Value | VAT Rate | VAT Amount | Gross Amount |
|---|---|---|---|
| £43 | 20% | £8.60 | £51.60 |
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20%
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Net Amount: £43.00
VAT: £8.60 (20.00% of net amount)
Gross Amount: £51.60
Difference (Gross - Net): £8.60
History 1 - Net Amount: £43.00, VAT: £8.60 (20.00% of net amount), Gross Amount: £51.60, Difference (Gross - Net): £8.60
43 Plus VAT
VAT Added Gross amount = Initial Price x (1 + VAT percentage)
Simply:- £51.60 = £43 x (1 + 20%) or £43 x (1 + 20/100)
Let me tell you another way to calculate £51.60
For example: Let’s say a product costs £43 before VAT.
- £43 (product cost) x 20% (VAT rate) = £8.60
- So the total price with VAT is: £43 (product cost) + £8.60 (VAT) = £51.60
