Is total income before VAT going to be less or more than total income before VAT?+REP

Is total income before VAT going to be less or more than total income after VAT?

I'm confused which way round they are :P

Thanks + REP to helpers.

what the hell are you on about.

VAT is what you pay at the shops.

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Originally Posted by [ALEX]

what the hell are you on about.

VAT is what you pay at the shops.

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I know but I'm doing an excel spreadsheet for I.C.T and the non-i.c.t bit has me stumped :P

hmm.i don't really understand. Is it just tax or VAT?

it must be less before vat i suppose. but a company doesnt really keep the vat.

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Originally Posted by [ALEX]

hmm.i don't really understand. Is it just tax or VAT?

it must be less before vat i suppose. but a company doesnt really keep the vat.

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That's what I thought.

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Use appropriate formulae and functions to calculate:
• the total cost of each item sold
• the total income before and after VAT
• the expenditure for the business
• the total profit (do not include VAT)

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I do business studies and i can tell you it's less before VAT :D

Wow my business teacher helped me remember this!
it goes

Income
Expenditure
Gross Profit
Fixed Costs
Net Profit
Vat
Total Income/Outcome

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Originally Posted by Carlsta

I do business studies and i can tell you it's less before VAT :D

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Thank You.

After VAT means you've payed VAT (17.5%).
So if you've payed it you have less income...

So you're going to have more Income before VAT... You don't need business studies to know that.

Yeah... Your income is MORE before VAT, Your income is your Gross profit, and after expenses (Or Overheads, Which includes tax) it's your Net profit.

I understand your not doing accountancy so I won't bore you =]