1. S3 VAT Value added Tax VAT means : Why do we pay it ? To pay for NHS, bin collection, School education etc…… St. Andrew’s Secondary What is the current percentage rate of VAT 17.5% Created by Mr. Lafferty Maths Dept

2. £1000 + VAT S3 VAT means : Value added Tax Example 1 How much will I pay for the computer below ? VAT – 17.5% Step 1 : work out VAT percentage St. Andrew’s Secondary Step 2 : Total to pay is Created by Mr. Lafferty Maths Dept

3. £1299 (excluding VAT) S3 VAT means : Value added Tax Example 2 Price of the Plasma TV is shown below is excluding VAT. What is the total price I have to pay. VAT – 17.5% Step 1 : work out VAT percentage St. Andrew’s Secondary Step 2 : Total to pay is Created by Mr. Lafferty Maths Dept

4. S3 VAT means : Value added Tax VAT – 17.5% Your turn Exercise 6 Page 65 St. Andrew’s Secondary Created by Mr. Lafferty Maths Dept