How do you calculate VAT on a spreadsheet?

Is there a way to use excel to calculate how much I should save for tax each month as a sole trader?

• I'm a a recently self employed flooring fitter (sole trader), I only have very simple accounts with income from jobs paid on completion and only a few expenses for tools and consumables etc each month. I currently have a spread sheet set up to keep tabs on income/expense and to show the balance including a few tricks to keep track of the money etc. However, I want to know if there is any way to calculate how much I should really be saving each month for tax, and how I would go about this in an excel/openoffice spreadsheet? As I said, my books are very simple with no VAT etc to confuse things.

• Answer:

  over the last 30 years of my employed life i have seen tax go up and down and national insurance go up and down, but at the end of the day i have always lost 33% between them both, so put that much aside and you should be covered