Working out VAT isn’t exactly the most exciting job in the world. But if you have your own business – regardless of whether you are VAT registered or not – you may well have the need to work out VAT every now and then.
A typical example of this would be if you were ordering stock online. Most stock prices from wholesalers are provided without VAT added onto them. This means that if you are not registered for VAT you will need to work out what the VAT is on each product, so you can work out the total cost of it to you.
In situations like this you would definitely benefit from having a VAT calculator handy. Of course you can work out the amount of VAT payable on any item simply by using a normal calculator, and indeed this is the way that many people do it. But there are lots of VAT calculators online that can make life much easier for you, so why not try one?
It’s a good idea too to keep the calculator you like best saved in your bookmarks. It works even better if you make sure the calculator is on your toolbar, because you will be able to see it easily and click on it whenever you need to get to it to use it. If you buy stock constantly online or you work with VAT and figures a lot on your computer – which many of us do now – then you will find it a godsend to have it readily available just a click away.
If you still aren’t convinced over whether you should be using one of these calculators, try it for a few days and then go back to being without one. You will probably find that is all the convincing you need to use it on a regular basis!
If you are VAT registered you will know that you need to do a VAT return every three months. But you will probably find plenty of uses for a VAT calculator even in between those times, as we have seen above. Whether we like it or not VAT is a part of every business and being able to do those calculations quickly and easily is a crucial part of making sure we know where we stand with prices and figures.
So why not try one now?