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Posted by shimmyshack on 05/15/07 11:31
On May 15, 7:15 am, Geoff Berrow <blthe...@ckdog.co.uk> wrote:
> Message-ID: <1179193009.883361.18060@q75g2000hsh.googlegroups.com> from
> shimmyshack contained the following:
>
> >> Thanks ZeldorBlat, it must be my PHP version that's the problem
> >> (4.4.2) - money/number formats don't help either so it looks like time
> >> for some fancy footwork with string manipulations.
>
> Same here on 4.3.9
>
>
>
> >also in the UK tax is found by flooring not rounding. ie 17.5% of £1
> >is 17.5p but the tax is only 17p
>
> I didn't know that. Have you got a reference?
> --
> Geoff Berrow 0110001001101100010000000110
> 001101101011011001000110111101100111001011
> 100110001101101111001011100111010101101011
OT.
In retail it is more complicated than just round down to nearest
penny!!
anyway this from the uk tax website:
17.5.1 Calculation based on lines of goods or services
If you wish to work out the VAT separately for a line of goods or
services, which are included with other goods or services in the same
invoice, you should calculate the separate amounts of VAT either by
rounding:
* down to the nearest 0.1p - for example, 86.76p would be rounded
down to 86.7p; or
* to the nearest 1p or 0.5p - for example, 86.76p would be rounded
up to 87p.
Whatever you decide, you must be consistent.
The final total amount of VAT payable may be rounded down to the
nearest whole penny.
http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageVAT_InfoGuides&propertyType=document&id=HMCE_CL_001543#P574_44405
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