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Splitting purchases into vAT

JVC
16/10/2024
Question

I have a receipt with two purchases, one of which I want to submit as a business expense. Now I wanted to calculate the vAT on that one amount, but then the total amount doesn’t match. The total amount is £19.49. Minus £2.50 (private purchases) = £13.99. The receipt states 21% vAT from 16.11. How should I calculate this…? ChatGPT gives me a good explanation…. 🙂

Is everything to 21% vAT? And is that £2.50 excl. VAT? Then you deduct this from the amount excl. VAT (16.11). That leaves you with 13.61 excl. VAT. Then you add 21% vAT, which brings you to 16.46 incl. VAT.

I wonder how ChatGPT would have solved this XD

Okay. Thank you for your answer. I need to look back at how it worked again. (It's been a while, you see.)

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You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.

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