Online VAT Calculator for UK & Ireland 2021

Online VAT Calculator for UK & Ireland 2021

Rate of VAT

0%

VAT CALCULATOR:

Online VAT Calculator assesses the amount of product before VAT, VAT rate, and VAT inclusive amount. You can calculate these values by knowing its rate, which may be standard, reduced, livestock, and zero. You also need the original price of the product. You can calculate the VAT at any time without the installation of any software.

VAT:

VAT is the value-added tax to all goods and services. Sometimes you call it sales tax or consumption tax. VAT is the amount that pays at different levels due to different purchasers. But the sales tax is assessed only once at the final stage of the purchase. VAT applies to almost any purchased and imported sold product. In European countries, it is imposed, and its value is lower than in Australia and the USA. Before reaching the final consumer, VAT pay to different suppliers and companies.

The companies pay the VAT value to the tax authorities. As the number of purchases increases, there is an increasing amount of VAT payable to authorities. See Also: Jrs Tracking

How do you calculate VAT from a total?

Take a gross amount of your product including VAT, then divide it with the 1+VAT percentage. You will get the value of VAT from a total.

How to Calculate VAT VALUE for the UK?

The UK is also one of the countries included in the European Union. So here, we also calculate the VAT value easily. It is accessible and reliable, and you can find your tax on your own. So the rate of VAT is 12.5% temporarily till September 2021.

A standard rate of 20% is applicable to :

For example, the original price of the product excluding VAT is 80 pounds. Then add the VAT rate of 20%, which is 16, and after adding this, the price of your product, including VAT, is 96 pounds.

A reduced rate of 5% is applicable to:

Zoo, cinemas, museum, and park

Food

Hotels, tents

Newspapers are excluded from this rate.

How to calculate the VAT for Ireland?

The standard rate for VAT is 23%. And the reduced rate are 13.5%, 9%, 4.8%, and 0%. There are different reduced rates due to extensive things. This will help you to get the VAT value of your interest according to the product.

Standard value:

As you know, the standard rate of VAT is 23%. So for this, you should need only the original amount, excluding VAT. Then add the VAT rate of 23%, and you will get the price included VAT.

A reduced rate of 13.5% applies to:

You can use this rate to find out the VAT value for the following products.

Energy used for Electricity

Construction and Maintenance services

Agriculture contracting services

Repair services of the movable property

Veterinary fee for the services

Short time hire of vehicles such as car

A reduced rate of 9% is applied to 

Specific tourist services, e.g., hotels, restaurants, photography, newspaper, theatres, and hairdressing.

A reduced rate of 4.8% applies to 

Agricultural services such as horses, livestock, and drones

Reduced rate zero% 

You can apply this rate to the following products. Some of these are:

 Books and pamphlet excluding newspapers

Plant, seed, trees

Medicine for human and animal use

Fertilizers

Supplies of large animal feed

Clothes and shoes for children

Tea, milk, and coffee

The calculation for a reduced rate:

You need

  • Original price
  • VAT rate according to the service

Then add both the values, and you will see a VAT inclusive price.

Advantages:

VAT value has many benefits on the government income. Whenever the budget falls short, there is a temptation to increase the rate of VAT. So, the government meets its budget. It is a neutral tax because it is imposed on all types of goods and services. VAT is easy to manage and much more efficient. Because of the consumption tax, revenue will remain constant. The company also has a specific VAT number. You can find this number on the website of the company. And from this, you can find VAT value.

Drawbacks:

Since it has many advantages, it has some drawbacks. All the calculation is terrible because you have to calculate VAT at every product level from raw material to the final customer. For new business activities, it may be costly because you have to pay VAT. Any country has a local sales tax and other taxes, adding further costs to the consumer. You can say it a regressive tax because it causes trouble for poor people, not a rich ones. Snow Day Calculator

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