S3_VAT_Calulations_foundation

S3_VAT_Calulations_foundation - S3 VAT VAT means : Value...

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Unformatted text preview: S3 VAT VAT means : Value added Tax To pay for NHS, bin collection, School education etc...... St. Andrew's Secondary Why do we pay it ? What is the current percentage rate of VAT Created by Mr. Lafferty Maths Dept 17.5% S3 VAT 17.5% VAT means : Value added Tax Example 1 St. Andrew's Secondary How much will I pay for the computer below ? Step 1 : work out VAT percentage 17.5 1000 = 0.1751000 = 175 100 Step 2 : Total to pay is 1000 + VAT 1000 + 175 = 175 Created by Mr. Lafferty Maths Dept S3 VAT 17.5% VAT means : Value added Tax Example 2 St. Andrew's Secondary Price of the Plasma TV is shown below is excluding VAT. What is the total price I have to pay. Step 1 : work out VAT percentage 17.5 1500 = 0.1751500 = 262.50 100 Step 2 : Total to pay is 1500 + 262.50 = 1762.50 Created by Mr. Lafferty Maths Dept 1299 (excluding VAT) S3 VAT 17.5% VAT means : Value added Tax St. Andrew's Secondary Your turn Exercise 6 Page 65 Created by Mr. Lafferty Maths Dept ...
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