You have the total price before VAT.
Then you add VAT usually at 17.5% added on so its more after the total price.
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You have the total price before VAT.
Then you add VAT usually at 17.5% added on so its more after the total price.
This shouldn't be in a question about income :S VAT is what you pay when you buy stuff (value added tax), the money that comes out of your income is, unsuprisingly, income tax.
VAT gets added onto everything :)
The question is quite confusing. Its hurting my head thinking about what its actually asking. But yes as Coldplay said, VAT is always added on, so if you are on about a business buying then the total would be less before VAT but if its selling then the total income will be more after VAT.
Well that seems to make sence in my head but may not in yours :P
Total income before VAT will be LESS than after the VAT has been added.Quote:
Is total income before VAT going to be less or more than total income after VAT?
E.g.
Price before VAT = £10.00 (Divided by 17.5 = 0.57142847 - You add this on - If I am correct, if not I'm a total idiot;))
Price after VAT (17.5%) = £10.57(142857) - Rounded up.
Hang on... The question is misleading.
Are you asking whether your income - from someone buying stuff from you etc. is less or more after VAT, or are you asking whether your income - after paying VAT is less or more?
You're getting totally different answers from different people, and no one's wrong.