Hi There,

I am arguing with my boss over how to minus a percentage.

If you want to work out the VAT on £100 you divide by 1.2 and then minus the £100 which is £16.67 VAT

If i then want to pay someone 12% of that £100 my boss says u times by 0.12 which gives you £12 where as i think you divide by 1.12 and then minus the £100 which gives you £10.72

Can somebody please tell me which way is the right one

Many Thanks

Stuart