How to change VAT rates in Sage Line 50

How to change VAT rates in Sage Line 50

19th January 2011 By Ben Hall

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.

 Sage1

Step 2

Select T1 and press the Edit button.

 Sage 2

Step 3

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

 sage 3

Step 4

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

 Sage 4

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

Hall

By Ben Hall

Ben Hall BSc (Hons) MCP MCTS is part of our helpdesk support team, predominantly supporting schools.  He studied at Sheffield Hallam University and has been with Resolve IT since 2006. He enjoys a good burrito and a beer.