Summary
Use this wizard to determine the relevant tax code to use when posting sales or purchase transactions.
Resolution
NOTE: This article is part of a wizard, if required, you can restart at the beginning.
Sage 200 Professional - 2019 Summer to 2020 R1
Create the new VAT code 18:
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 | % |
| 181 | Import Goods to GB from ROW | Import Goods ROW | Yes | CIS Reverse Charge Purchases | 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.
Post using the following VAT code:
| Which VAT code to use | Use VAT code 18 |
|---|---|
| How this affects the VAT Return | The VAT amount appears in boxes 1 and 4, the net amount of the transaction appears in box 7. |
Sage 200 - 2019 Spring and below
Create the following VAT code:
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 | % |
| 181 | Reverse Charge Purchases | Reverse Charge Purchases | Yes | Reverse Charge Purchases2 | 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 It is only possible to use the Reverse Charge Purchases terms against one VAT Code, it will not be possible to create this code if these term exist on an existing code, in these circumstance the existing code will need to also be used for Postponed Accounting and transactions under the Low Value Import Scheme.
Post using the following VAT code:
| Which VAT code to use | Use VAT code 18 |
|---|---|
| How this affects the VAT Return | The VAT amount appears in boxes 1 and 4, the net amount of the transaction appears in box 7. |
| This article provides general rather than specific guidance to assist all of our customers. We always do our best to make sure that the information is correct but as it's general guidance, no guarantees can be made concerning its suitability for your particular needs. The information is valid at the time of publishing and is provided without any warranty of any kind, express or implied. You should take professional advice if you require specific guidance on your individual circumstances, for example to ensure that the results obtained from using our software comply with statutory or regulatory requirements. For VAT, customs and excise and duties enquiries you should call the HM Revenue and Customs (HMRC) National Advice Service Helpline on 0300 200 3700, contact your local HMRC office or visit their website at www.hmrc.gov.uk In no event will we be liable to you for any direct, indirect, consequential or incidental loss or damage arising out of or in connection with your use of the information provided. The VAT or tax codes used in this article are based on the default or recommended codes set up in the software. These may be different in your software. |
Africa
Asia
Australia
Canada
France
Ireland
Kenya
Nigeria
Portugal
South Africa
Spain
United Arab Emirates
United States
Germany