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Sage 200 - VAT code finder: Purchase - Goods - EC - VAT registration provided - Standard rated

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Summary

Use this wizard to determine the relevant VAT 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.

Which VAT code to use Use VAT code 8.
How this affects the VAT Return A notional VAT element based on the code 1 tax rate appears in box 4 and box 2 (EC acquisitions). The net element appears in box 7 and box 9.

 

NOTE:

The notional VAT element is picked up from ASM > Settings > VAT Rates where the EC Std PL must show 20% (or the equivalent VAT rate for Standard Rate).

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.