VAT gets charged every time value is added as a product is made or a service is delivered. Now, let’s know what is the answer to £357 Plus VAT. Now if we use the standard VAT Rate(20%) then the Gross Amount would be £428.40 and the VAT amount would be £71.40.
| Initial Value | VAT Rate | VAT Amount | Gross Amount |
|---|---|---|---|
| £357 | 20% | £71.40 | £428.40 |
Check Out our VAT Calculator for accurate data
Net Amount: £357.00
VAT: £71.40 (20.00% of net amount)
Gross Amount: £428.40
Difference (Gross - Net): £71.40
History 1 - Net Amount: £357.00, VAT: £71.40 (20.00% of net amount), Gross Amount: £428.40, Difference (Gross - Net): £71.40
357 Plus VAT
VAT Added Gross amount = Initial Price x (1 + VAT percentage)
Simply:- £428.40 = £357 x (1 + 20%) or £357 x (1 + 20/100)
Let me tell you another way to calculate £428.40
For example: Let’s say a product costs £357 before VAT.
- £357 (product cost) x 20% (VAT rate) = £71.40
- So the total price with VAT is: £357 (product cost) + £71.40 (VAT) = £428.40
