Microsoft Excel

[wannabe (imported)]

hi all you tech people i need to rack your brains!

First thing is im trying to get excel to subtract VAT (in the uk) and put the answer in the box F11 from the price in box E11 - would anyone know a formula?

Secondly I am having trouble with one box, it hasnt done it with the other but it keeps rounding figures up! i want to put in £13.70 but it keeps rounding up to £14 everytime i click another box it is so annoying!

ANY HELP PLEASE!!

[sweet1bob (imported)]

if the tax is 7% then divide the value by 1.07 .

on the other part, it sound like you have Excel format set to 0 digits, change the format to 2 digits and it wont round anymore!

[Quillman (imported)]

hi all you tech people i need to rack your brains!

First thing is im trying to get excel to subtract VAT (in the uk) and put the answer in the box F11 from the price in box E11 - would anyone know a formula?

Secondly I am having trouble with one box, it hasnt done it with the other but it keeps rounding figures up! i want to put in £13.70 but it keeps rounding up to £14 everytime i click another box it is so annoying!

ANY HELP PLEASE!!

It is easy to get adding 17.5% to the sum to get VAT exclusive (read the other reply on changing to two decimal points) but the fraction for subtracting VAT from gross figure is not 17.5%; I'm afraid that my accountancy programme does it for me, but I cannot remember the actual figure- however your local VAT people will soon tell you, or just go on the VAT website where it will be, hope this helps.

Quillman UK

[Quillman (imported)]

Just looked it up on the HMRC VAT website. The formula for subtracting vat from gross is:-

Amount multiply by 7; amount divide by 47. Answer is nett price.

Adding VAT just multiply by 17.5%

Best wishes

Quillman UK

[wannabe (imported)]

thankyou!