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S3. VAT. Value added Tax. VAT means :. Why do we pay it ?. To pay for NHS, bin collection, School education etc……. St. Andrew’s Secondary. What is the current percentage rate of VAT. 17.5%. £1000 + VAT. S3. VAT means :. Value added Tax. Example 1

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Slide1 l.jpg

S3

VAT

Value added Tax

VAT means :

Why do we pay it ?

To pay for NHS, bin collection,

School education etc……

St. Andrew’s Secondary

What is the current percentage rate of VAT

17.5%

Created by Mr. Lafferty

Maths Dept


Vat 17 5 l.jpg

£1000 + VAT

S3

VAT means :

Value added Tax

Example 1

How much will I pay for the computer below ?

VAT – 17.5%

Step 1 : work out VAT percentage

St. Andrew’s Secondary

Step 2 : Total to pay is

Created by Mr. Lafferty

Maths Dept


Vat 17 53 l.jpg

£1299 (excluding VAT)

S3

VAT means :

Value added Tax

Example 2

Price of the Plasma TV is shown below is excluding VAT.

What is the total price I have to pay.

VAT – 17.5%

Step 1 : work out VAT percentage

St. Andrew’s Secondary

Step 2 : Total to pay is

Created by Mr. Lafferty

Maths Dept


Vat 17 54 l.jpg

S3

VAT means :

Value added Tax

VAT – 17.5%

Your turn

Exercise 6

Page 65

St. Andrew’s Secondary

Created by Mr. Lafferty

Maths Dept


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