Which tax code should I use? - from 1 January 2021 (UK only)

Summary

This guide helps you find the right tax codes to use in Sage 50cloud Accounts.

Description

The Sage tax code you use for a transaction depends on several things. Here you can find the correct tax code by answering a few questions about your sale or purchase. Use this guide together with HMRC VAT rates guidance to make sure your VAT Return is correct every time.

TIP: Keep this guide handy by setting it to open when you press F12 in your software. Read more >

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Select the type of transaction you want the tax code for:

Sale Purchase Bank charge or interest

Not VAT registered? If you're not registered for VAT, you should post all transactions using the non-vatable tax code, normally T9. Read more >

Other useful guides

IMPORTANT: This article provides general rather than specific guidance to assist all of our customers. Please read the rest of our VAT disclaimer - Click here >

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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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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Which tax code should I use? - from 1 January 2021 (UK only)

Summary

Description

Let's get started!

Other useful guides

Are you ready for Making Tax Digital?

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