Solution Properties
Solution ID:
200427112533327
Last Modified Date:
Tue Oct 05 16:15:36 UTC 2021
Taxonomy Path:
Case category//How do I...//processing
Author:
[email protected]
Brexit - Trading with the United Kingdom after 1 January 2021 when using Sage 50 Accounts v27.1 - ROI only
Description
[BCB:42:CSat FB drive:ECB]

Table of Contents

Trading goods with the UK

Buy goods from the UK - Postponed Accounting

For businesses buying goods from the UK, excluding those using the Northern Ireland protocol, postponed accounting has been introduced to help the cashflow on businesses that previously didn’t have to factor in paying Import VAT. Postponed accounting can now also be used for imports from non EU countries.

To help, Sage 50 Accounts v27.1 introduces twelve new tax codes that you can use to record the import of goods.

NOTE: By default, these are T39 and T50 but may differ depending on the tax codes you already use.

Tax code Description
VAT Return
 RTD
Net
VAT
T39 Standard rate ROW import (Resale) Postponed VAT

'Total value of purchases, excluding VAT' / PA1

'VAT due on intra-EU acquisitions and postponed VAT' / T1 / T2

P2 / Z2 / PA2 / R1 / Z3 / PA3
T40 Standard rate ROW import (Non resale) Postponed VAT 'Total value of purchases, excluding VAT' / PA1 'VAT due on intra-EU acquisitions and postponed VAT' / T1 / T2
P2 / Z2 / PA2 / R2 / Z5 / PA4
T41 Zero rated ROW import (Resale) Postponed VAT 'Total value of purchases, excluding VAT' / PA1 'VAT due on intra-EU acquisitions and postponed VAT' / T1 / T2 D2 / Z2 / PA2 / J1 / Z3 / PA3
T42 Zero rated ROW import (Non resale) Postponed VAT 'Total value of purchases, excluding VAT' / PA1 'VAT due on intra-EU acquisitions and postponed VAT' / T1 / T2  D2 / Z2 / PA2 / J2 / Z5 / PA4
T43 Reduced rate ROW import (Resale) Postponed VAT 'Total value of purchases, excluding VAT' / PA1 'VAT due on intra-EU acquisitions and postponed VAT' / T1 / T2  AC6 / Z2 / PA2 / AH5 / Z3 / PA3
T44 Reduced rate ROW import (Non resale) Postponed VAT 'Total value of purchases, excluding VAT' / PA1 'VAT due on intra-EU acquisitions and postponed VAT' / T1 / T2  AC6 / Z2 / PA2 / AH6 / Z5 / PA4
T45 Second reduced rate ROW import (Resale) Postponed VAT 'Total value of purchases, excluding VAT' / PA1 'VAT due on intra-EU acquisitions and postponed VAT' / T1 / T2  AC6 / Z2 / PA2 / AH5 / Z3 / PA3
T46 Second reduced rate ROW import (Non resale) Postponed VAT 'Total value of purchases, excluding VAT' / PA1 'VAT due on intra-EU acquisitions and postponed VAT' / T1 / T2  AC6 / Z2 / PA2 / AH6 / Z5 / PA4
T47 Livestock rate ROW import (Resale) Postponed VAT 'Total value of purchases, excluding VAT' / PA1 'VAT due on intra-EU acquisitions and postponed VAT' / T1 / T2  C6 / Z2 / PA2 / H5 / Z3 / PA3
T48 Livestock rate ROW import (Non resale) Postponed VAT 'Total value of purchases, excluding VAT' / PA1 'VAT due on intra-EU acquisitions and postponed VAT' / T1 / T2  C6 / Z2 / PA2 / H6 / Z5 / PA4
T49 Flat rate compensation rate ROW import (Resale) Postponed VAT 'Total value of purchases, excluding VAT' / PA1 'VAT due on intra-EU acquisitions and postponed VAT' / T1 / T2  B6 / Z2 / PA2 / G5 / Z3 / PA3
T50 Flat rate compensation ROW import (Non resale) Postponed VAT 'Total value of purchases, excluding VAT' / PA1 'VAT due on intra-EU acquisitions and postponed VAT' / T1 / T2 B6 / Z2 / PA2 / G6 / Z5 / PA4

Sell goods to the UK

For businesses selling goods to the UK, excluding those using the Northern Ireland protocol, you should now treat this as a sale to a non-EC country. 

For this you would normally use the zero rated tax code, T0.

Trading goods with Northern Ireland - Northern Ireland protocol

When trading goods with Northern Ireland, to avoid a hard border, the Northern Ireland protocol has been introduced.

Buy goods from Northern Ireland

Under to the Northern Ireland protocol, buying goods located in Northern Ireland should continue to be treated like it was before Brexit, under intra-community acquisitions.

Sell goods to Northern Ireland

Under to the Northern Ireland protocol, selling goods to Northern Ireland should continue to be treated like it was before Brexit, under intra-community acquisitions.

Buy and sell services

There is no change in the way you buy and sell services to and from the UK. 

Please continue to process services as you always have. 

[BCB:22:IE - Sales message :ECB] [BCB:48:Accounts Irish VAT disclaimer:ECB]