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

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Summary

This guide provides a list of the default tax codes in Sage 50cloud Accounts, with details on how they affect the VAT return, and how they're configured.

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.

Below we run through the existing tax codes, with information on what boxes on your VAT return they affect, and how they are set up in your tax codes settings.


If you need advice on what tax code you need to use you can:

NOTE: Looking for information on how to apply the 12.5% VAT rate for UK hospitality, holiday accommodation and attractions? To do this you need to create a new tax code. Read more >

Resolution

 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 >

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: To see how a tax code affects the VAT Return, click the relevant tax code link below. 






















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

 TIP: If required, you can create new tax codes to suit your needs. In Sage 50cloud Accounts Standard and Professional you can amend multiple records to the same tax code at once with Batch Changes > 


Need more help to find the right tax code to use?

We have some handy guides to help you find the right tax code:

 

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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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