VRS13040 - Temporary 5% VAT rate on hot food and on-premises consumption: Example of direct calculation method

(Hot takeaway food retailer also selling cold soft drinks or restaurant selling food, beverages and alcoholic drinks).

Step听听听听听 Description听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 听Amount

1.听听听听听听听听听听听 Add up your DGT for this tax period听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 拢200,000

2听.听听听听听听听听听听Add up the fully-adjusted ESP of your standard rated goods听听听听听听听听听听听听听听听听听听听 听听拢15,000

  1. 听听听听听听听听听 Deduct step 2 from step 1. This is your reduced rate sales听听听听听听听听听听听听听听听听听听听听听听听听听听 拢185,000

  2. 听听听听听听听听听 Multiply the figure at step 2 by 1/6 (VAT at 20%)听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 拢2,500

  3. 听听听听听听听听听 Multiply the figure at step 3 by 1/21 (VAT at 5%)听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 听听 听 拢6,851.85

  4. 听听听听听听听听听 Total at step 4 + total at step 5听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 听听 听 拢9,351.85

听听听听听听听听听听听听听听 听This is your output tax.

听