Admin tax has gone crazy!

Ok, I've just noticed that my admin tax has gone completely mad. And the gross value of products in my store are displayed incorrectly.

Here's what happens...

My tax rate is set to 17.5%. I create a new product and set the net price at £10. The Gross is calculate at £13.50! It should be £11.75.

I tried again, but entered the gross price first this time (£11.75). The net price was then calculated at £8.7037. It should be £10.

Also, the gross product price (catalog side) is completely wrong!

Both Display Prices with Tax and Display Prices with Tax in Admin are set to true. My default curreny has a rate of 1.00000000.

Any help would be great as I'm totally stuck with this one! :(

Ok, I think I've sorted this...

I had both a UK and EU tax zone. While UNITED KINGDOM was not in the EU tax zone it was still be treated as part of that zone.

So, all products were having tax calculated at 30% (17.5% + 17.5% - the rate of each zone).

I simply moved UNITED KINGDOM into the EU zone and it's sorted it, while keeping my tax structure correct. :)

Everything appears ok now, but I'm having to double check some products.

I'll post another update later.

There is a known issue on the Products when adding/editing and multiple taxes are defined that the gross and net are using a combo of all the taxes rather than just one of them as there isn't a customer defined at that given time to manage this ...

We will be addressing this issue in a future release ...

Excellent. I hope my work around (above) helps others. :)