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VAT Calculator for IT Contractors

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This handy calculator will work out how much VAT you should charge a client based on your net billing. Also use this script to work out how much VAT is included in a VAT-Inclusive sum. Current VAT rate used in the calculations is 17.5%.

Input amount: Inclusive of VAT? Yes Calculate Results VAT: Amount:

Value Added Tax (VAT) is a tax on the final consumption of certain goods and services in the home market but is collected at every stage of production and distribution. Most business-related goods and services will therefore be subject to VAT. There are several UK VAT rates, the standard rate being 17.5%.

• IT Contractor VAT Guide.
  
  
• Overview of the Flat Rate VAT Scheme
  
  
• Online Mortgage Calculator

Published on May 6, 2006

Further Reading

Tax band changes as Government attempts to put right the 10% tax band mess IT Contractor Accounting - How legislation has forced changes Tax pitfalls for owner managed companies in 2008 Joy for contractors as Self Assessment form-filling to become less of an ordeal Tax Rates + Allowances: 2008-9 Budget 2008 - How IT Contractors are affected Osborne calls for Corporation Tax cut Government releases draft "entrepreneurs' relief" legislation

 

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