Sage has a number of tax codes set up as default. You can edit any of the existing default tax codes or you can add your own. You can have up to 99 different tax codes in Sage Accounts.
| T0 | Zero rated transactions |
| T1 | Standard rate |
| T2 | Exempt transactions |
| T4 | Sales of goods to VAT registered customers in EC |
| T5 | Lower rate |
| T7 | Zero-rated purchases of goods from suppliers in EC |
| T8 | Standard-rated purchases of goods from suppliers in EC |
| T9 | Transactions not involving VAT |
| T20 | Sales and purchases of reverse charges |
| T22 | Sales of services to VAT registered customers in EC |
| T23 | Zero-rated purchases of services from suppliers in EC |
| T24 | Standard-rated purchases of services from suppliers in EC |
| T25 | Flat rate accounting scheme, purchase and sale of individual capital items > £2,000 |
| T0 | Zero rated sales and purchase of goods for resale |
| T1 | Standard rate sales and purchase of goods for resale |
| T2 | Exempt transactions for sales and purchase of goods for resale |
| T3 | Reduced rate sales and purchase of goods for resale |
| T4 | Sales of goods to VAT registered customers in the EC |
| T5 | Exempt import of goods from suppliers in EC for resale |
| T6 | Exempt import of goods from suppliers outside EC for resale |
| T7 | Zero rated purchases of goods from suppliers in the EC for resale |
| T8 | Standard rate purchases of goods from suppliers in the EC for resale |
| T9 | Transactions not involving VAT |
| T10 | Zero rated purchase of goods for non-resale |
| T11 | Standard rated purchase of goods for non-resale |
| T12 | Exempt purchase of goods for non-resale |
| T13 | Reduced rate purchase of goods for non-resale |
| T14 | Zero rated export of goods to customers outside EC |
| T15 | Exempt import of goods from suppliers in EC - non-resale |
| T16 | Exempt import of goods from suppliers outside EC - non-resale |
| T17 | Zero rated purchases of goods from supplier in EC - non-resale |
| T18 |
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| T19 |
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| T20 | Reverse charges |
| T21 | Zero rated purchases of goods from suppliers outside EC - non-resale |
| T22 | Sales of services to VAT registered customers in EC |
| T23 | Zero-rated purchases of services from suppliers in EC |
| T24 | Standard-rate purchases of services from suppliers in EC |
| T25 | Reduced rate purchases of goods from suppliers in EC - resale |
| T26 | Reduced rate purchases of goods from suppliers in EC - non-resale |
Select the required tax code.
| Rate |
Enter the required percentage. For example, to set up a 5% VAT rate, enter 5.00 in this box. Note: If you select the EC Code check box, the Rate box is not available. |
| Include in VAT Return | To include transactions with this tax code in the VAT Return, select this check box. |
| Reverse Charge | To include this tax code for the sale or purchase of items that fall under the remit of carousel fraud, for example, mobile phones, select this check box. It must not be used for standard reverse charge transactions. |
| Flat Rate Capital Asset | If you are on a Flat Rate VAT scheme and you want to use the tax code for capital assets, select this option. |
| Enable EC Code | To flag your tax code as an EC tax code, select this check box then from the drop-down lists, choose the relevant options. |
| Link To |
This option is only available for EC purchase tax codes. If this tax code includes notional VAT, choose the required tax code that you want to link to. Notional VAT is calculated based on the rate of the code you link to. |
| Description | Enter a description for the tax code. |
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