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List of tax codes - v27.1 and above - UK

Created on  | Last modified on 

Summary

This guide provides a list of the default tax codes in Sage 50cloud Accounts.

Description

Tax codes identify how much VAT is paid on different goods and services. If you're VAT registered, the tax code you enter against each transaction determines which box of your VAT Return is affected.

Let's look at the existing default tax codes, which boxes on your VAT return they affect and how they're set up in your tax codes settings.

 NOTE: This guide relates to Sage 50cloud Accounts v27.1 and above only, which is what you need to use the import tax codes post-Brexit. We also have a guide for Sage 50cloud Accounts v27.0 and below >

Resolution

Find the right tax code to use

If you're looking for the correct tax code to use for your transaction, we have some handy guides to help you:


Default tax codes in your software

To check the default tax codes in your software:

  • Click Settings then click Configuration then click the Tax Codes.

A list of the default tax codes appear.

TIP: If the tax code isn't listed in this guide then you can customise it to suit your needs.























Find out how to set up OSS/IOSS tax codes.

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.

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Are you ready for Making Tax Digital?

From April 2022, Making Tax Digital (MTD) applies to all VAT registered businesses. If you're looking for an MTD solution, Sage 50cloud Accounts has what you need.

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