Sage 200 - VAT code finder
Summary
Use this wizard to determine the relevant VAT code to use when posting sales or purchase transactions.
Description
NOTE: This article is part of a wizard, if required, you can restart at the beginning.
Create the new VAT code 16:
TIP: To create new VAT code, open the Settings menu within Accounting System Manager and choose VAT Rates.
| VAT code | Description | Name | VAT Return | Terms | % |
| 161,2 | Services Purchases UK from ROW | Purchase Services ROW (Reverse Charge) | Yes | Purchase Non-Related Services | 20.00 |
1 Customers have the flexibility to create their own codes, these are example codes but are what will be used by the latest versions of 200 cloud
2 This VAT code can be used to record a purchase of services from outside the UK, where reverse charge applies.
You can then post using this new VAT code:
| Which VAT code to use | Use VAT code 16. |
|---|---|
| How this affects the VAT Return | A VAT element appears in boxes 1 and 4. The net element appears in boxes 6 and 7. |
| This article offers general guidance only. While accurate at the time of publication, it may not suit your specific needs. We make no express or implied warranties. For tailored advice, consult a professional. For VAT, customs, or duties queries, contact HMRC on 0300 200 3700 or visit www.hmrc.gov.uk. We accept no liability for any loss from using this content. VAT or tax codes shown reflect default software settings and may differ in your setup. |
Solution Properties
- Solution ID
- 210113171203877
- Last Modified Date
- Thu Oct 06 13:03:03 UTC 2022
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