118 Plus VAT
Here we will answer your query to 118 plus VAT, break down the calculations in a table and give you the formula for adding VAT to the price of 118.
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What Is 118 Plus VAT?
The answer to 118 plus VAT is 145.14 .
What is 118 plus VAT?
118 plus VAT is calculated below;
145.14
Breakdown of The Calculation
| Price | Rate | Gross Price | VAT Amount |
|---|---|---|---|
| 118 | 23% | 145.14 | 27.14 |
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Formula For Calculating 118 Plus VAT
If you are adding Value Added Tax; then you need to multiply the price by (100 + VAT percentage). This is the price, including VAT (Gross value)
The formula for adding VAT To A Price;
T = P x (100 + VAT percentage)
Formula explained in this case;
- T = 145.14
- P = 118
- VAT percentage = 23%
The calculation;
T (145.14) = 118 x (100 + .23)