formula for gross profit inc VAT

I am trying to produce a spread sheet to calculate gross profit including VAT at 20%

example purchase price ex vat £1.50 profit margin at 45% = selling price

the spread sheet then needs a range fron £1 to £2 and 40% to 50%

Regards
Martin

Hi Mark

This might work

Regards

Alastair

Hi Alastair

thanks for the reply, but i am looking for gross profit

example: cost ex vat is £1.50 gross profit (not markup) 50% + 20% vat = £3.60 selling price

does that make any sense,

regards
Martin

It makes sense, and I should have seen that in the original posting!

However, in my defence m'lud, you mentioned VAT. Unless you are going to defraud HM Revenue and Customs out of their VAT, you need to ignore it from any calculations eg

Cost 1.00
Markup 40% 0.40
Selling Price 1.40 excluding VAT
VAT @ 20% 0.28 (to be handed over to HMRC
Selling Price 1.68

So your gross profit is 0.40

If you do wish to defraud HMRC the profit is 0.40 + 0.28 (but the penalties are very severe!)

Hope this helps


Regards

Alastair

I'm sorry I probably haven't explained myself correctly
I have been sent an A4 paper with those details on (see below) but it doesn't cover the 40% to 50% range so I wanted to drag the formula to include that range.
gross profit ready reckoner (inc vat at 20% in the selling price)
cost price 50% 51% 52%
£1.00 £2.40 £2.45 £2.50 selling price
£1.10 £2.54 £2.69 £2.75 selling price

regards
martin

I'm sorry I probably haven't explained myself correctly
I have been sent an A4 paper with those details on (see below) but it doesn't cover the 40% to 50% range so I wanted to drag the formula to include that range.
gross profit ready reckoner (inc vat at 20% in the selling price)
cost price 50% 51% 52%
£1.00 £2.40 £2.45 £2.50 selling price
£1.10 £2.54 £2.69 £2.75 selling price

regards
martin

I now see what is required. See file attached.

Hope this is what you require

Regards

Alastair