How to change VAT rates in Sage Line 50

19/01/11

The change in VAT rate won’t just effect your shopping, it’ll effect your accounting work too. For those of you using Sage Line 50, here Ben takes us through how to change the rate.

Here in the UK we have all been hit by the VAT increase from 17.5% to 20% making us all that little bit poorer! But hey! If you are paying 20% your customers should too! Here we'll show you how to apply that extra 2.5% so they can feel that same pain as you do when you buy that bar of chocolate.

Step 1

On the Settings menu, open Configuration and click on the Tax Codes tab.

Step 2

Select T1 and press the Edit button.

Step 3

The Edit Tax Code box should appear. Change the Rate to 20. Click the OK button.

Step 4

Click the Apply button to save your changes and close the window.

This will take effect immediately so make sure you aren't processing anything from before the VAT increase!

let's start the ball rolling

Fill in the form or use the contact details below and we’ll get our expert team to put together a package that’s personal to your business.

hello@resolve.co.uk
0114 299 4050