Pre tax calculation

loolloo78

Can anyone please advise how to calculate a pre tax figure when provided with the net tax figure and percentage tax?

Thank you

barneystinson

loolloo78 wrote: »

Can anyone please advise how to calculate a pre tax figure when provided with the net tax figure and percentage tax?

Thank you

Ok so let's say the net figure is 240, and the tax rate is 20%:

This means that 240 is 80% of the pre tax figure (100%-20%).

So to calculate the pre tax amount you divide by 80 (to get 1%) and multiply by 100. in this case that's 300.

Mr. Incognito

So basically you want basic algebra lessons?

Sure.

Post the figures.

It may not be that simple depending on the type of tax as PAYE for example would have USC etc.

I am NOT opening the forum up to calculate my taxes for me queries.

I have better things to do than to police that and be double checking figures

loolloo78

There's no need to be so rude.

Thank you for your help barneystinson, it's just those two calculations are not in my study manual.

pm1977x

plenty of very handy tax calculators online where you can adjust all the variables