Why £120 at 20% is £100 net, never £96
Whichever mode you use, the same three numbers stay linked: net, tax, and gross always satisfy net + tax = gross. Adding tax multiplies the net by (1 + rate ÷ 100); removing it divides the gross by that same factor. The two are opposites, and dividing is never the same as subtracting the percentage — the single most common VAT/GST mistake.
Take a net price of £100 at a 20% VAT rate: VAT = 100 × 20 ÷ 100 = £20, so the gross price is 100 × 1.20 = £120. Going the other way from that same £120 gross figure, the net is 120 ÷ 1.20 = £100 and the tax is £20 again, confirming the round trip. Subtracting the rate instead of dividing gives £96, and checking that answer forward proves the error — 96 × 1.20 = £115.20, not £120. Division is the only operation that correctly reverses the multiplication used to add tax, which is why Basic mode divides and shows the formula and a breakdown bar beside the answer.
In Any Two Values mode you enter whichever pair you know — net and gross, tax and rate, gross and tax — and the calculator solves the other two. Find the Rate mode reverse-solves the implied rate from a before-tax and an after-tax price, so a tax line quoted with no rate attached still resolves to a percentage you can act on.