Tapping into mathematics
Tapping into mathematics

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Tapping into mathematics

5.3 Check the till VAT

Now return to the old till receipt and look at the section which deals with VAT.

VAT-CODE NET-VAL VAT-VAL
S=17.5% £8.04 £1.41

These three pieces of information might be read as follows:

  • The current VAT rate for these items is 17.5%

  • The net value of the goods comes to £8.04

  • The VAT paid on these goods was £1.41.

Use your calculator to check whether:

  • the VAT value on these goods was £1.41?

  • the sum of the net value plus the VAT gives the total charged (the gross value)?

If you are unsure about how to do this, then the next subsection may help you.

MU120_4MCAL

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