Hi Roger
Thanks for the comprehensive answer. You're correct in that my query does
deal with UK VAT. The only reason I used the letters V & E was more as an
"aide memoire" for the person doing the input ~ V to stand for VATable and E
for Exempt. The VAT element will only ever fall into the customary standard
17.5% (unless otherwise amended by HMG!), or be Exempt, so I was trying to
apply the KISS principle to the formula. I will re-jig the columnisation to
reflect your suggestion.
I'd just like to thank everyone for the time they've taken with my query and
for sharing their knowledge so readily.
Regards
Essjay


"Roger Govier" wrote:

Hi

You have received many answers, each of which will deal with the calculation
you asked.
However, if you are dealing with UK VAT, I have some observations to add.

Under UK HMCE rules there are codes for several different VAT rates -
Z,X,E,O,S,L,H,I,P
There is no VAT code V, it should be S for Standard to attract a current
rate of 17.5% , so from both your viewpoint, and that of the invoice
recipient, it would serve you well to comply with the HMCE directive.

L - Lower currently 5% (only applies the Domestic Fuel bills and is
probably something you would not be using)
H - Higher rate is not currently being used
S - Standard is currently 17.5%
P - Partial Exemption (unlikely to be used in your particular case - applies
to some property situations)

X - Excluded, E - Exempt, O - Outside the scope and Z - Zero are all 0%

Personally, I would have Column F as the Net Amount, Column G as the VAT
Amount and column H as the Gross amount.
The formula in column G would then become
=IF(E17="S",ROUND(F17*17.5%,2),0)

Without knowing your circumstances, I would suspect that it is is S and Z
you should be using, rather than V and E.
You should confirm with your HMCE inspector to ensure that you are
complying.
--
Regards
Roger Govier

"Essjay" wrote in message
...
Can anyone help with syntax for an IF formula as under:
If E17=E (for exempt) then F17=$0.00 but
If E17=V (for VAT) then F17=G17*17.5%
I have an invoice on which some items are taxable and some not. If I put
the E or V letter in Column E, then I want it to return either a zero
value
or to calculate the tax in column F on Column G at 17.5%. Is this
possible?

e.g. A B - D E F G
Qty. Desc. E $0.00 200.00
Qty. Desc. V $147.00 840.00

Any help much appreciated.