amexee
New member
When adding Vat you have to add 20% but not if you want to remove it from the gross.
If you bought something for £1 and added 20% the cost would be £1.20
if you then took 20% off to get the net you would taken 24p off leaving 96p
That is clearly wrong.
To get back to £1 you would have to take off 16,66666%
120 * 16.666666666 = 19.999999
If you bought something for £1 and added 20% the cost would be £1.20
if you then took 20% off to get the net you would taken 24p off leaving 96p
That is clearly wrong.
To get back to £1 you would have to take off 16,66666%
120 * 16.666666666 = 19.999999