Sage tax code changes

As you are no doubt aware there is a new standard rate of VAT of 15% which comes into force on Monday 1 December 2008. If you are VAT registered you will need to make changes to your accounting system to allow for this.If you use a computerised system you will need to set up a new VAT code for this. Please do not amend the existing standard rate code as this could affect older transactions where VAT should still be at the old rate of 17.5%.

If you are a Sage user click here for instructions on adding a VAT code.

Instructions for changing Sage VAT codes

1. Log on to Sage.
2. Select the settings tab at the top of the screen.
3.Select configuration (If a message box appears click ‘Yes’).
4. The configuration editor box will appear.

5. Select the tax code tab at the top of the screen.

6. Double click on T3. The box below will appear.

7. Change the rate box to 15%.
8. Tick the include in VAT return box.

9. Click OK in the edit tax code box.
10. It will then take you back to the tax code screen.
11. Press the apply button.

12. Then press save & close.

Please call you usual K&H contact if you need any more information