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Posted by Peter Saxton on February 7, 2007, 3:58 pm
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On Wed, 07 Feb 2007 15:29:21 GMT, "Samuel Shulman"
>I write POS sytem package I wuld like to know the following:
>
>If I sell 5 item that cost £1.00 before VAT, do I apply the 17.5% for the 5
>together i.e. £5.88 or the 5 separately i.e. £5.90
>
>Thank you,
>Sam
>
You have to show VAT for each item with the following rules:
down to the nearest p, or
up or down to the nearest 1p or p
You have to be consistent.
At the end of the invoice the total amount of VAT may be rounded down
to the nearest whole penny.
--
Peter Saxton from London
peter@petersaxton.co.uk
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