Accounting
VAT Codes
David Jefferson
2018-06-07
I am a UK user.

Does anyone have advice ion how many VAT Codes we should use.

Currently the system I use has been set up with 4 VAT codes.

It uses 1 Standard Rate, 2 EU, 3 Outside EU and 0 Zero rate leaving the code blank seems to default to Out of Scope. There does not seem to be a code for exempt or non standard rates (e.g. domestic fuel). The codes do not differentiate between Inputs and Outputs.


I can cope with this with sales invoices and purchase invoices but nominal ledger transactions are really difficult to get on to the correct part of the VAT return.

The last time I used Sage I was using around 15 VAT codes.

Any advice is welcome.
Per
2018-06-08
Hello.

Thank you for your message.


Please see the Nominal Ledger >> Settings >> VAT Codes
Here you can create and define your own VAT Codes.

It is tho very important to clarify that our customers follows the current legislations that has been set up for their respective country, in your case United Kingdom.
We at the support staff are not qualified as book keepers. Therefor, if you have any question regarding the legislation for VAT Codes, and the laws and rules that surrounds it, my strong suggestion is that you forward these questions to a certified book keeper instead.

We do not take any responsibility for our customers creating and using a VAT Code that is incorrect.

Br.
Per
HansaWorld Support
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