Sage 50 VAT ‘T’ codes
4th May 2021Sage50 VAT T codes (from v27.1 onwards):
T0 – Zero rated transactions
T1 – Standard rated transactions – Currently 20%
T2 – Exempt transactions
T4 – Sale of goods to VAT registered customers in EC
T5 – Lower Rate – Currently 5%
T7 – Zero rated purchases of goods from suppliers in EC
T8 – Standard rated purchases of goods from suppliers in EC
T9 – Transactions not including VAT
T14 – Import of goods – No VAT
T15 – Purchase of services from ROW – Reverse charge
T16 – Purchase of services from ROW – No VAT
T17 – Import of goods – Under import reverse charge threshold
T18 – Import of goods – Postponed VAT
T19 – Import of goods – VAT not postponed
T20 – Domestic reverse charge
T21 – CIS reverse charge – Standard rate
T22 – Sales of services to VAT registered customers in EC
T23 – Zero rated or exempt purchases of services from suppliers in EC
T24 – Standard rated purchases of services from suppliers in EC.
T25 – UK Flat Rate scheme only – Purchase or sale of capital items, where the purchase amount is more than £2,000 inclusive of VAT.
T26 – CIS reverse charge – Reduced rate
To view or amend the tax codes: Sage > Settings > Configuration > Yes, to close all other open windows > Tax Codes.
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Disclaimer - All information in this post was correct at time of writing.
