Question about VAT?

Stefan

I was thinking of getting the wife the love knot from Sophia Harley, and was wondering how much VAT is taken off the purchase? Is Vat 17.5%?

Have any gent's ordered one from the States?

Any help would be great!

Many thanks,
Stefan

welshboy78

Stefan wrote:

I was thinking of getting the wife the love knot from Sophia Harley, and was wondering how much VAT is taken off the purchase? Is Vat 17.5%?

Have any gent's ordered one from the States?

Any help would be great!

Many thanks,
Stefan

The correct way to deduct VAT is multiply the item price by 0.8333

Ps it's 20%

Stefan

Thanks Paul!

welshboy78

Stefan wrote:

Thanks Paul!

No probs mate, I always buy VAT free from EU if I can, especially my watches!!!

Voituer

I always multiply by 1.2 to add VAT and divide by 1.2 to deduct - If I had a calculator handy i would check to see whether we get similar answers

Asp9mm

Voituer wrote:

I always multiply by 1.2 to add VAT and divide by 1.2 to deduct - If I had a calculator handy i would check to see whether we get similar answers

That won't work. You add 20% on but you take much less off, about 16.6%

welshboy78

X 0.8333 is the correct way to do it!! {[]

Voituer

thanks, although I just tested the 1.2 and it comes out at a small variation only - will investigate 8-)

welshboy78

Voituer wrote:

thanks, although I just tested the 1.2 and it comes out at a small variation only - will investigate 8-)

x 0.8333 is the formula that retailers have to use!