Tax

VAT calculator

Split VAT out of prices and compute the net amount payable for a period.

VAT rate

15% is an illustrative rate; actual rates depend on the jurisdiction and change over time.

Price before VAT (net)

Direction

Net → grossGross → net

VAT split
Net amount	2,000.00
VAT at 15%net × 15%	300.00
Gross amount	2,300.00

VAT return worksheet, quarter ended 31 March 2026

VAT worksheet lines
Description	Type	Net amount	Input VAT recoverable	VAT
Line 1 description	Line 1 type	Line 1 net amount	Output VAT	12,600.00
Line 2 description	Line 2 type	Line 2 net amount	Output VAT	3,225.00
Line 3 description	Line 3 type	Line 3 net amount	Yes: line 3 input VAT recoverable	1,860.00
Line 4 description	Line 4 type	Line 4 net amount	Yes: line 4 input VAT recoverable	477.00
Line 5 description	Line 5 type	Line 5 net amount	No: line 5 input VAT recoverable	187.50

VAT return summary
Output VAT on sales	15,825.00
Less: recoverable input VAT	(2,337.00)
Net VAT payable	13,488.00

Input VAT of 187.50 is not recoverable: it stays part of the cost of what was bought (expense or asset), not in 1140.

VAT is collected for the tax authority, so neither output VAT nor recoverable input VAT is revenue or expense. During the quarter, sales were credited to 2020 and recoverable purchases debited to 1140.

Settlement entry

VAT settlement entry
Date	Account	Debit	Credit
30 Apr	2020VAT payable (output VAT)	15,825.00
	1140Input VAT recoverable		2,337.00
	1000Cash at bank		13,488.00
	Quarterly VAT return: offset input VAT against output VAT and pay the balance

Learn it properly

VAT: input and output tax · Tax Accounting and Regional Practice
Taxable, zero-rated and exempt supplies · Tax Accounting and Regional Practice

All companies and figures in the simulators are fictional.