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Changing the VAT rate in Sage Versions
Posted by paris on Dec 2, 2008 in Research
Hopefully most sage operators would have performed this over the weekend , but here is how to change the Sage VAT Rate in the UK for the new rate of 15% from the 1st December for a couple of years!
Sage Version 8
Click on : Settings then go to Tax Codes
Click on T1 – Edit
Rate – change to 15.0 – ok
The VAT code should now be 15%
Sage Version 10, 11, 12, 13, 14 (2008), 15 (2009)
Click on : Settings then go to Configuration
Tax Codes – Click on T1 – Edit
Rate – change to 15.0
Ok – Apply – Save – type in 15% – Save
From 1st December 08 should be at 15% as well as any purchase invoices dated from the 1st, however any purchase invoices received up to 30th November will be at 17.5% so you will have to make sure that the “Net” and the “VAT” amounts on Sage are correct as Sage will be calculating it at 15% and not 17.5%.
More details here from Sage