VAT on £70
Add or remove VAT at 20%, 5%, 0% on £70, with the net, VAT and gross figures.
Adding 20% VAT to £70 gives £84.00, of which £14.00 is VAT. Removing 20% VAT from £70 gives £58.33 net, with £11.67 of VAT inside the price. At the 5% reduced rate the VAT is £3.50 when added and £3.33 when removed; at 0% nothing changes.
£70 at every VAT rate
| Calculation | Net | VAT | Gross |
|---|---|---|---|
| Add 20% | £70.00 | £14.00 | £84.00 |
| Remove 20% | £58.33 | £11.67 | £70.00 |
| Add 5% | £70.00 | £3.50 | £73.50 |
| Remove 5% | £66.67 | £3.33 | £70.00 |
| Add 0% | £70.00 | £0.00 | £70.00 |
| Remove 0% | £70.00 | £0.00 | £70.00 |
What £70 looks like with and without VAT
A £70 purchase is the kind of thing that ends up as a receipt in a drawer: fuel, stationery, a parking charge, a working lunch. If the receipt shows a VAT number and the price includes VAT, then £11.67 of that £70 is tax you can reclaim on your return, leaving a net cost of £58.33. Without a valid VAT receipt you can still claim the £70 as an expense against profit, but not the VAT itself.
Working the other way, if you quote £70 before VAT and you are VAT registered, the customer pays £84.00: your £70 plus £14.00 that you collect for HMRC. At the 5% reduced rate, which applies to things like domestic energy and children's car seats, the same £70 becomes £73.50. Zero-rated items such as most food, books and children's clothing stay at £70 on the invoice, though they still count as taxable sales.
The 20% figures catch people out because the VAT inside a gross price is not 20% of the price. It is 20% of the net, which works out at 16.67% of the gross. So £70 including VAT contains £11.67, not £14.00. Keep that in mind when you are checking a till receipt or splitting a shared bill between personal and business use.
Source: GOV.UK: VAT Flat Rate Scheme; GOV.UK: VAT thresholds. Last updated .
Frequently asked questions
- How much is £70 plus VAT?
- £70 plus 20% VAT is £84.00. The VAT element is £14.00. At the 5% reduced rate the total is £73.50, and at 0% it stays at £70.
- How much VAT is included in £70?
- If £70 already includes 20% VAT, the VAT inside it is £11.67 and the net amount is £58.33. You divide by 1.2 to find the net, then subtract to find the VAT.
- What is £70 minus VAT?
- £70 minus 20% VAT is £58.33. That assumes the £70 was a VAT inclusive price. If £70 was already the net price, there is no VAT to take off.
Cite this page: “VAT on £70”, SoleKit, https://solekit.co.uk/vat-calculator/70