VAT Flat Rate calculator Comparison

1. Select Your VAT Invoice Type:

Choose between "Inclusive" (VAT included in the price) or "Exclusive" (VAT added to the sale price).

2. Input Sales Data:

Enter your sales figures in the relevant fields:

• Standard Rated Turnover: Sales subject to the standard VAT rate.
• Reduced Rated Turnover: Sales at a lower VAT rate.
• Zero Rated Turnover: Sales not subject to VAT.
• VAT Exempt Turnover: Sales exempt from VAT.

3. Input Purchase Data:

Similarly, enter your purchase expenses:

• Standard Rated Expenses: Costs subject to the standard VAT rate.
• Reduced Rated Expenses: Costs at a lower VAT rate.
• Zero Rated Expenses: Costs not subject to VAT.
• VAT Exempt Expenses: Costs exempt from VAT.

4. Calculate Totals:

The calculator will automatically compute your total sales and purchases, providing a read-only total field for easy reference.

5. Review and Submit:

Once all data is entered, review the totals for accuracy before proceeding with your VAT return.

By following these steps, you can efficiently use the online VAT calculator to determine your VAT obligations. This process not only saves time but also helps ensure that your tax reporting is accurate and compliant with regulations. Using a flat rate VAT calculator simplifies your bookkeeping and helps you manage your finances more effectively.