Originally Posted by Hightower
Your both wrong, what's wrong with your maths!
Nope, I'm afraid you are wrong Hightower.
VAT is 17.5% of the pre-VAT price. This means that you have to divide the with VAT price by 1.175 to get the pre-vat price.
What Hightower has done is take 17.5% OFF the VAT-included price.
If you add VAT to this £21450 you 'only' get £25203.75 not £26k.
I'm afraid my maths are correct.
If you buy something for £100 +VAT it costs you £117.50.
To work out the pre-VAT price you divide the £117.50 by 1.175, you do not find 17.5% of £117.50 (which is £20.5625 - resulting in your £100 miraculously becoming £96.9375).
P.s. Now who gets the extra homework