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If the 545 is inclusive of VAT then the VAT element is 71.08, however if the 545 is exclusive of VAT then the VAT would be 81.75
£1,020 plus 17.5% Vat of £178.50 = £1,198.50 If the £1,020 is inclusive of 17.5% VAT then the VAT amount = £151.92
From net figure: assume Vat rate=16% Vat amount=16/100*net figure from Gross figure Vat amount =16/116*gross figure
'6 percent tax' can mean 2 things, depending whether or not the tax is inclusive. If it is not inclusive it means that you owe a further 6% of whatever your buying/receiving. For example if you're buying something for £100 and VAT (at 6%) is not included you would owe £6 to the tax man. If it is inclusive it means that 6% of whatever your buying/receiving. If you are buying something for £50 and VAT is included (at 6%) 6% would be paid to the tax man for you.
vat 69