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 £879 Plus VAT. Now if we use the standard VAT Rate(20%) then the Gross Amount would be £1,054.80 and the VAT amount would be £175.80.
| Initial Value | VAT Rate | VAT Amount | Gross Amount |
|---|---|---|---|
| £879 | 20% | £175.80 | £1,054.80 |
Check Out our VAT Calculator for accurate data
Net Amount: £879.00
VAT: £175.80 (20.00% of net amount)
Gross Amount: £1054.80
Difference (Gross - Net): £175.80
History 1 - Net Amount: £879.00, VAT: £175.80 (20.00% of net amount), Gross Amount: £1054.80, Difference (Gross - Net): £175.80
879 Plus VAT
VAT Added Gross amount = Initial Price x (1 + VAT percentage)
Simply:- £1,054.80 = £879 x (1 + 20%) or £879 x (1 + 20/100)
Let me tell you another way to calculate £1,054.80
For example: Let’s say a product costs £879 before VAT.
- £879 (product cost) x 20% (VAT rate) = £175.80
- So the total price with VAT is: £879 (product cost) + £175.80 (VAT) = £1,054.80
