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The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> Sage Tax Code T8 Help
Post Info TOPIC: Sage Tax Code T8 Help
Julie Hall


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Sage Tax Code T8 Help
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Hi there, I look after a retail company and they purchase some vatable goods from Brussels and they have also supplied their VAT number, so I know I use tax code T8 on sage, but in the set up box for T8 I know it needs to be linked to 17.5% but under the T8 code in the box should I also input the VAT rate of 17.5% or should it stay as zero as I think I have been inputting them as T8 with the rate showing as zero.  I know that it will not make any difference to the amount of VAT they have to pay as it will be zerod off but need to get it right, any help appreciated.  Also any ideas tax code to use for google ad words re reverse charge, I think it is T20 on sage. 

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Julie
Stuartbham


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Hi Julie

I use 17.5% for T8 transactions, because as you say the net effect is zero when you get back to box 5.

I use code T20 for Google Ad Words. However do make sure the entries are calculated correctly on Sage as I've had a few issues with this recently.

Stuart 

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Stuart

Birmingham City FC - Blues is my religion St Andrews is my church
Julie Hall


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Thanks Stuart just to claify if you had an invoice for £100 (no vat charged from them) from EU supplier would you then input as T8 with £100 in the net box and in the Vat box £17.50.

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Julie
Stuartbham


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Yes, it should then pick up the relevant amounts for boxes 1 to 4.



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Stuart

Birmingham City FC - Blues is my religion St Andrews is my church
Julie Hall


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Posts: 120
Date:
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Thanks very much Stuart

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Julie
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