Two tax codes have been introduced in Sage 50 Accounts v26 and above:

• T21 to be used where CIS Reverse Charge Standard Rate applies.
• T26 to be used where CIS Reverse Charge Reduced Rate applies.

These tax codes can be used by both the subcontractor and the main contractor and ensures that the VAT Return is updated correctly. These must be used for both your sales and purchase transactions, where domestic reverse charge applies. 

If tax code T21 or T26 is already in use, the next available tax code is used.

To have these tax codes in your software automatically, you must have Sage 50 Accounts v26 and above.

To download and install v26 and above then visit our Installation Help Centre.

NOTE: What to do if I don't use Sage 50 Accounts v26 or above? - Read more >

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