VAT Calculator UK. This free online tool allows you to add or remove value-added tax rates on any amount.
VAT Calculator is an online web application that allows you to include or exclude VAT rates from any amount. Just input the values inside the input box and get the Net, VAT, and Gross amount instantly. Also, our tool gives you access to change the VAT(%) rate.
VAT stands for "Value-Added Tax". It is applied to most of the goods and services and charged by UK businesses. In short, it is one type of business transaction tax that all consumers need to pay.
We have developed this VAT Calculator because of recent VAT rate changes. There are so many sites available on the internet. But they do not allow users to change the VAT rate. Therefore, we created this online tool for all individuals and business users to get access to change the VAT rates. In our calculator, you can enter any value in the VAT field and calculate VAT as per your need.
Also, checkout our GST Calculator to calculate the Goods and Service Tax online.
It was introduced in 1973 with the replacement of "Selective Employment Tax" and "Purchase Tax". The current VAT rate in UK is 20%. But it was 17.5% before the January 4th, 2011. In addition, the standard rate of VAT was 15% reduced on December 1st, 2010. But it was temporary reduction and it went back to 17.5% on January 20th, 2010.
There are two possibilities to calculate VAT.
Firstly, we will check for VAT inclusion or addition from the total price.
It's a very easy deal.
Simply multiply the initial amount by "1 + VAT (%)".
i.e. if VAT is 20% then multiply by "1.20".
£95.00 multiply by 1.20 = £114.00
Now, subtract £95.00 from £114.00 = £114.00 - £95.00 = £19.00
As per buyer point of view:
£19.00 is the VAT amount that we need to pay if we purchase a £95.00 price product.
As per seller point of view:
We can say that £19.00 is the VAT amount that we need to add to sell a £95.00 price product.
It's a reverse process of VAT inclusion. In VAT addition, we are performing multiplication. But in exclusion, we need to perform division.
Let's take an example to understand it.
£105.00 divide by 1.20 = £87.50
Now, subtract £87.50 from £105.00 = £105.00 - £87.50 = £17.50
Therefore, £17.50 is the VAT amount that we need to pay if we purchase a £105.00 price product.
So, you can use this simple multiplication and division trick and calculate the VAT manually. But you don't need to do it all the time. Because it becomes more complicated when we are dealing with big numbers. So, use our VAT Calculator to make it easier, faster, and accurate. Also, it will save human's time and effort.
There are so many features of our online app. Some of them are as below.
Our tool is very easy to use. Also, the user interface is very simple. So, anyone can go through the tool smoothly.
Before start the calculation process, you need to fulfill some pre-requirements. Without it, you can not go forward.
It's an online tool. So, you need a smart device that access the Internet. Then open any web browser like Chrome or Safari and open the UK VAT Calculator.
Now, follow the steps below to get started.
When you open the tool, you can see some input fields at the top of the page. So, firstly, you need to enter the Initial amount in the first field. It can be VAT included or excluded.
Second field is for VAT Rate. By default, it is set to the standard rate of 20%. You can change it if you want.
Now, if you want to find amount added with VAT then click on "Add VAT" button. As a result, you will get final price with 20% VAT included.
Similarly, you can exclude VAT percentage amount by clicking "Remove VAT" button. As a result, you will get price with 20% VAT excluded.
Finally, it gives Net Amount, VAT Amount, and Gross Amount as an output. So, you can easily figur out all type of charges.
In short, you can use this calculator and figure out the Gross and VAT price that you need to pay to the dealers or business owners.
The current standard VAT rate in UK is 20%. Also, it keeps changing to balance the economy of the country. You can check the latest rate updates here: https://www.gov.uk/vat-rates.
In addition, the reduced VAT rate in UK is 5% and it is applied to some services and goods (i.e. children's car seats and home energy). Even more, most of the food and children's clothes have a 0% VAT rate and it's called Zaro Rate.
All countries have different VAT rates. Also, some countries are not using VAT. One of the biggest examples is the USA. US government is not using VAT. Here is the list of VAT rates of some nations.
Note: This rate is taken in January 2020. We recommend you to check the latest rate from a specific nation's official government website.
No, it's totally free for all online users. No calculation limits and no subscription.
Yes, you can change the vat rate. All users have access to change the VAT rate(%) as per their requirements.
Yes, you can add or include VAT rates to your actual price.
Yes, you can remove or exclude VAT rates from your actual price.
It will take less than a second to do the calculation.