H HelpIRL Registered User Messages 16 12 Jun 2008 #1 Hey Can someone work this out for me I buy goods form a distributor say one item @ 100 ex vat so I pay 100 + vat @ 21 = 121 I want to make 30% on the item how do i tot it up after that 100 @30%= 130 plus the vat i paid 21 = 151 and then the vat i charge the customer @21% 181 total So i make 30 euro plus i get back the 21 in vat I paid the distributor That right?
Hey Can someone work this out for me I buy goods form a distributor say one item @ 100 ex vat so I pay 100 + vat @ 21 = 121 I want to make 30% on the item how do i tot it up after that 100 @30%= 130 plus the vat i paid 21 = 151 and then the vat i charge the customer @21% 181 total So i make 30 euro plus i get back the 21 in vat I paid the distributor That right?
H hhhhhhhhhh Registered User Messages 197 13 Jun 2008 #2 Buy item 100 + 21 VAT = € 121 Sell item 130 +27.3 VAT = € 157.3 Pay 27.3 - 21 = € 6.3 VAT to revenue Ignore vat as it is not your money, you just collect it for the government
Buy item 100 + 21 VAT = € 121 Sell item 130 +27.3 VAT = € 157.3 Pay 27.3 - 21 = € 6.3 VAT to revenue Ignore vat as it is not your money, you just collect it for the government