If VAT is 20%, and an invoice inclusive of VAT is £100, what is the price of the invoice before adding VAT?

  1. 1
  2. 83
  3. 85
  4. 88

 

 

 

The term “inclusive of tax” refers to a price that contains the amount of tax. At the same time, the sum of VAT must be quoted separately on a tax invoice for the supply of those goods or services. On certain invoices, VAT is applied to the price of the products or services. All invoices you send to customers must include your VAT identification number, as well as the amount of VAT charged and other regular items.

Leave a Comment