Re: Selling cars - When are you a dealer? # Archived Message
Posted by Mark Carter on November 24, 2009, 8:40 am, in reply to "Re: Selling cars - When are you a dealer? #"
Ian is right, the VAT is included in the selling price and not added to it, therefore you have to back track the VAT element just as you would on any other invoice that did not show it seperately.HTH Regards Mark PS as an example if you have a food invoice for £40 an you need to know the VAT element then you can work it out as follows; divide the figure by 23 and then times by 3 40/23=1.739*3=5.217 so the VAT element is £5.21
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