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| Convert back to the 17 1/2% VAT Rate |
This tutorial is intended to show how to revert back to using the 17 1/2% VAT Rate which is applicable
from 1 January 2010. This method assumes that you retained both the 17 1/2% and 15% rates in your
Sage Accounts software.
Standard VAT or VAT Cash Accounting
This method works with both Standard VAT and VAT Cash Accounting.
from 1 January 2010. This method assumes that you retained both the 17 1/2% and 15% rates in your
Sage Accounts software.
Standard VAT or VAT Cash Accounting
This method works with both Standard VAT and VAT Cash Accounting.
VAT on Sales
Start to use the the 17 1/2% rate from January 2010 consider the following to make life easier.
1. Change the Default VAT Rate for Customers to T1
Select Settings - Customer Defaults and change the VAT Rate to T1. This will apply whenever you
now create a new customer.
2. Update existing Customers Default VAT Rate to T1
Select the Customer List from Links in Customers and click Swap at the bottom of the screen to
highlight them all.
Note
If you have EC Customers or Customers with default tax codes other than T1 you may wish to exclude
them from the change. To do this do a Search as below:
Apply the search and then continue with the Swap.
Choose the Batch Change button, go to the Defaults tab and amend the Default VAT Rate to T1.
Save the change.
VAT on Purchases
Use the T10 and T1 rates as invoices arrive. At some point no more invoices will arrive with the 15%
rate. Consider the following then to make things easier.
1. Change the Default VAT Rate for Suppliers to T1
Select Settings - Supplier Defaults and change the VAT Rate to T1. This will apply whenever you
now create a new supplier.
2. Update existing Suppliers Default VAT Rate to T1
Select the Supplier List from Links in Suppliers and click Swap at the bottom of the screen to
highlight them all.
Note
If you have EC Suppliers or Suppliers with default tax codes other than T10 you may wish to exclude
them from the change. To do this do a Search as below:
Apply the search and then continue with the Swap.
Choose the Batch Change button, go to the Defaults tab and amend the Default VAT Rate to T1.
Save the change.
Start to use the the 17 1/2% rate from January 2010 consider the following to make life easier.
1. Change the Default VAT Rate for Customers to T1
Select Settings - Customer Defaults and change the VAT Rate to T1. This will apply whenever you
now create a new customer.
2. Update existing Customers Default VAT Rate to T1
Select the Customer List from Links in Customers and click Swap at the bottom of the screen to
highlight them all.
Note
If you have EC Customers or Customers with default tax codes other than T1 you may wish to exclude
them from the change. To do this do a Search as below:
Apply the search and then continue with the Swap.
Choose the Batch Change button, go to the Defaults tab and amend the Default VAT Rate to T1.
Save the change.
VAT on Purchases
Use the T10 and T1 rates as invoices arrive. At some point no more invoices will arrive with the 15%
rate. Consider the following then to make things easier.
1. Change the Default VAT Rate for Suppliers to T1
Select Settings - Supplier Defaults and change the VAT Rate to T1. This will apply whenever you
now create a new supplier.
2. Update existing Suppliers Default VAT Rate to T1
Select the Supplier List from Links in Suppliers and click Swap at the bottom of the screen to
highlight them all.
Note
If you have EC Suppliers or Suppliers with default tax codes other than T10 you may wish to exclude
them from the change. To do this do a Search as below:
Apply the search and then continue with the Swap.
Choose the Batch Change button, go to the Defaults tab and amend the Default VAT Rate to T1.
Save the change.
Additional Note
If you use Tax Code T8 for Imports from the EC for items that if purchased in the UK would be standard
rated, then you should change T8 as follows:
If you use Tax Code T8 for Imports from the EC for items that if purchased in the UK would be standard
rated, then you should change T8 as follows:
Products
If you use the Products module it may also be necessary to follow the same Batch Change procedure
in that area to update the default product tax codes.
Disclaimer
20gb Training accepts no responsibility for the advice given, any changes made are at your own discretion.
If you use the Products module it may also be necessary to follow the same Batch Change procedure
in that area to update the default product tax codes.
Disclaimer
20gb Training accepts no responsibility for the advice given, any changes made are at your own discretion.
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