Makes VAT Calculation Easy for you
VAT Calculator
Calculate VAT Easily
Need to calculate VAT? Whether you’re adding VAT to your prices or deducting it from the total, Artifin’s VAT Calculator makes it simple. With no need for manual maths, it is designed for freelancers, business owners, and anybody else who wishes to compute VAT accurately and quickly.
Use the calculator to:
• Add VAT to a net amount
• Deduct VAT from the total amount.
• Get instant results based on the current VAT rates in the UK.
How to Use the VAT Calculator
Using the calculator is simple:
- Enter the amount you want to calculate VAT for.
- Choose whether you want to include (Remove) or exclude (Add) VAT.
- Choose the appropriate VAT rate, such as 20% (standard), 5% (reduced), 0% (zero-rated), or a custom rate.
Did you know?
VAT boxes, commonly referred to as VAT return boxes, are the designated sections on a VAT return form where specific information about VAT transactions is recorded by businesses. Typically, these boxes correspond to different types of taxable supplies, purchases, and adjustments. Each box is assigned a unique code or identifier by tax authorities to facilitate accurate reporting and compliance with VAT regulations. Consequently, businesses can ensure their VAT returns are correctly filed by properly utilizing these boxes.
What is Value Added Tax (VAT)?
Value Added Tax (VAT) is a tax charged on most goods and services sold in the UK. It is collected by businesses on behalf of the government. VAT has an impact on the amount that consumers pay, the amount that companies receive, and the amount that can be refunded on qualified purchases.
Key points about VAT:
• Companies that generate more than £90,000 in taxable revenue annually are required to register for VAT.
• Depending on the good or service, VAT may be standard (20%), reduced (5%), zero-rated (0%), or exempt.
• Accurate reporting in your financial statements and adherence to HMRC regulations are guaranteed by proper VAT computation.
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