Choose your vat rate first i.e 17.5% (tax section under business settings)then enter the price including the VAT under the general tab. then select VAT normal from the Details tab. You then need to use the Product Price layout 'Standard Tax Inclusive Price' from the Layout Tab.
There are some large improvements for this area due in version 9. Until then, i'd suggest flat file imports as your best and quickest method. Import price in pence and nett of vat.
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