Useful calculations
Cost before VAT
The price of the goods / 117.5 x 100 = Cost before tax
Example
If you buy a set of earphones from Tesco's for £0.99 the tax man just got 15 pence from you
99/117.5x100=84.26
99-84=15 pence
The price of the goods / 117.5 x 100 = Cost before tax
Example
If you buy a set of earphones from Tesco's for £0.99 the tax man just got 15 pence from you
99/117.5x100=84.26
99-84=15 pence