VAT

K

kathleen syson

I have forgotten what formula to insert in a cell for the calculation of VAT
on the total of three previous columns
any help please would be appreciated.
 
J

Jack Schitt

Assuming that the 3 columns each represent the net amount, and each amount
is subject to the standard rate of VAT in the UK

=ROUNDDOWN(SUM($A1:$C1)*0.175,2)

If however the facts are as above but the amounts in the column are VAT
inclusive, then the VAT would be
=ROUNDDOWN(SUM($A1:$C1)*(7/47),2)

If there are zero-rated, reduced rate, exempt or outside-the-scope supplies,
or if the supplies are subject to a rate of VAT applicable in another EC
country, it would be more complicated.
 
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