Which code do I use for CIS Reverse Charge?

There are two tax codes in Sage 50 Accounts, to be used when processing CIS invoices for Domestic Reverse Charge.

Two tax codes have been introduced in Sage 50 Accounts:

• T21 to be used where CIS Reverse Charge Standard Rate applies
• T26 to be used where CIS Reverse Charge Reduced Rate applies

These tax codes can be used by both the subcontractor and the main contractor and ensures that the VAT Return is updated correctly. These must be used for both your sales and purchase transactions, where domestic reverse charge applies. 

If tax code T21 or T26 is already in use, the next available tax code is used.

 

Sage 50 Accounts CIS module The Sage 50 CIS module for 50 Accounts is fully compliant with CIS legislation. You can use it to produce CIS Returns and submit them to HMRC online. Find out more