No doubt you can work out sums in your head – easy ones, at least. But we can’t all work out every sum we need to know, especially when it involves more complex percentages. When it comes to VAT, for example, it makes sense to get things right from the start.
This is where a specific VAT calculator can be very useful to have around. There are different rates of VAT applicable to various goods and services, for example. Could you work out – quickly and easily – what amount of VAT would be applied to one product, given its usual price? Could you figure out what you could claim back from a purchase for your business, once you know what percentage of VAT was charged on that item?
Most of us would get there in the end, but there are significant advantages to having a VAT calculator close at hand. Firstly, there is no room for error. If you enter the information correctly, you know the calculator is going to produce the figure you need. Secondly, it is easier and faster to use a calculator than to try and work things out on your own. This will save you plenty of time over the course of the average month, especially if you are VAT registered and you constantly have a need to work out figures like this.
If you are about to register your business for VAT, or you have only just done so, it is good to have all the useful tools you can find at your disposal. Since you will find these calculators easily online, you can locate one quickly and have it bookmarked to use whenever the need arises. This is just one way of making your calculations easier to work out.
Getting to grips with VAT in any form is never easy. That means it makes sense to use a calculator designed with the intention of making VAT calculations. While a regular calculator would do the job, it is not programmed to work out VAT in the same way a dedicated calculator is. If you haven’t used one before, try one now. You might be surprised how much easier it is to use one once you know what to expect.
Not all VAT calculators are the same, though. Some are designed to help you with flat-rate VAT schemes and calculations, so try one of those if you are registered on this scheme. Others are more general, and require you to input certain pieces of information to come up with the correct figures. Either way, you’re sure to find it easier to make those calculations when you have one of these calculators close at hand. Anything that makes VAT easier must be a good thing!