VAT registered businesses with turnover exceeding £85k have been required to keep digital records and file VAT returns through making tax digital (MTD) compatible software for more than three years. All remaining VAT registered business have been moving across to this system since 1 April 2022. HMRC have now announced the old VAT portal…
From Monday 18th October 2021, clients using Sage50 Accounts will be sent a software update for version 28. Some of the new features of the software: New – customisable business dashboard showing you key business information, without the need to run numerous reports New – access the Sage 50cloud Accounts Help Centre directly…
Sage 50 VAT T Codes. Sage 50 Accounts book keeping software populates its VAT return by using tax (T) codes to indicate which VAT rate to apply to each transaction. Whenever you post a transaction in Sage 50 Accounts you must enter the relevant T code: T0 – Zero rated transactions (eg most food, books, new builds,…
Businesses that use Sage accounting software to complete and e-submit their VAT returns should be aware of a change to the Government Gateway on 14 February 2018. If you run an older version of this software (version 23 or below), it will no longer be compatible and hence VAT returns will not automatically e-submit…
Sage Launch Cloud Product: 4th time lucky? Despite dominating the SME on-premises accounting software market for over 25 years, Sage have struggled to find traction in the brave new world of cloud hosting. Initial attempts at licensing its best selling Sage50 software through the specialist hoster, Online<>50, gained little traction. The subsequent launch of the same product…