NOTE: For further information on recording import and export transactions after the end of the Brexit transition period, click here

Latest versions

In Sage 200 Professional 2020 R2, Sage 200 Standard or Sage for Education, there is a button available in VAT Rates (For sage 200 Professional in Accounting Sytem Manager > Settings in Sage 200 Standard and Education in Settings > Organisational and Financial) which will enable you to create the following codes (the codes listed below as what are used by default).

¹ This code is not currently in use.

² Customers have the flexibility to create their own codes, this code is used for example purposes.

³ This VAT code can be used for the import of goods where Postponed VAT Accounting is applied.

Boxes VAT codes affect on the VAT Return

⁴ This is notional VAT. No VAT is paid or reclaimed.

Older Verisons

In older versions of Sage 200 Professional the following code will need to be created manually

To create new VAT rates, open the Settings menu within Accounting System Manager and choose VAT Rates.

¹ Customers have the flexibility to create their own codes, this code is used for example purposes.

² This VAT code can be used for the import of goods where Postponed VAT Accounting is applied.

³ This may be simply called 'Reverse Charge' depending on the version.

Boxes VAT codes affect on the VAT Return

⁴ This is notional VAT. No VAT is paid or reclaimed, the same value appears in boxes T1 & T2, cancelling each other out.