# What was the VAT rate applicable in the year 1998?

### What is the current rate of VAT in the UK?

As from yesterday (Monday), the standard rate of VAT in the UK is 15% for 13 months (until the end of 2009). The 'normal' standard rate of VAT in the UK is 17.5%, but it has been reduced by 2.5% in an attempt to boost the economy. There are two additional VAT rates: 'Reduced' rate VAT 5% is for items such as gas and electricity Zero rate VAT is for 'essential' items - most food…

### How do you calculate the vat from a final vat inclusive amount?

Divide the TOTAL by (1+the VAT rate) - this will give you the VAT exclusive price, then simply subtract that from the total price to get the VAT amount. For example... Say the retail price is 29.99 - Divide by 1.175 (current VAT rate) This gives 25.52 - subtract that from the original price Thus the VAT portion of the total price is 4.47

### How is rate of a material found out in quantity surveying?

Rate of material is calculated as follows: Basic market rate Ex factory - Rs X Add Excise duty if applicable Total - Rs A Add transportation cost from factory to site Total - Rs B Add taxes such as VAT, State sales tax, Central sales tax etc., as applicable Total - Rs C Add octroi or entry tax if applicable Total - Rs D This is the rate of material to be considered in costing…

### How do I get the gross price from the net price?

For when the VAT rate was 17.5%, to get the amount before VAT you needed to divide by 1.175 Now the UK VAT rate is 20%, you need to divide by 1.2 Example: If the price before VAT was £100, and VAT is 20%, then the price after VAT is £120. So to work it out backwards: If you know the price after VAT is £120 and you want to know the price before VAT…