Add or remove 20% VAT from a price — handy for invoices, quotes and checking receipts.
VAT (Value Added Tax) is a consumption tax charged on most goods and services, at a standard rate of 20%. To add VAT, multiply the net amount by 1.2. To remove VAT from a gross (VAT-inclusive) price, divide by 1.2 to get the net; the VAT element is the gross × 1/6 (that is, 20/120).
Only VAT-registered businesses charge VAT, and they can reclaim VAT paid on their own purchases (input tax), so VAT is effectively borne by the final consumer. Registration is compulsory once taxable turnover passes £90,000 in a 12-month period; smaller businesses may register voluntarily.