Based on the information you've given us, we recommend you use the following tax codes. Bank charges - treat as VAT Exempt| Which tax code to use | T2 |
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| How this affects your VAT Return | The net amount appears in box 7. |
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Interest paid - treat as VAT Exempt| Which tax code to use | T2 |
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| How this affects your VAT Return | The net amount appears in box 7. |
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Interest earned - treat as non-vatable| Which tax code to use | T9 |
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| How this affects your VAT Return | This doesn't affect the VAT Return. |
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For further help, please refer to this guide. [BCB:97:Limitless - 50 Accounts - VAT:ECB]
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