• Multi VAT registration in Sage 50

    My UK Company buys goods in Italy and imports these for sale in both UK and Republic of Ireland. Following Brexit we have found it necessary to VAT register in Ireland in order that we can conduct Intra EU supplies, as we can no longer rely on the 'triangulation…

  • VAT for TOMS Scheme

    Hi all,

    I am trying to understand how to record invoices in Sage to allow me to account for it using TOMS. 

    I've seen previous people asking this being redirected to Ask Sage Article  11314 but I cant see where to find this?   Is this still live?  Can…

  • C79 - journal entry problems

    Help required - VAT return needs to be in asap and I have spent an inordinate amount of time trying to work this out, but failing at the last hurdle!

    Re: 'How do I post import VAT and duty on goods purchased from a country outside the UK?' article.…

  • Error code - TAX_PERIOD_NOT_ENDED

    When submitting your VAT Return for MTD, this error code can appear.

    Typically this happens if the relevant tax period has not yet ended, if you've selected the incorrect period to submit or if you try to submit your VAT Return too early.

    You can resolve…

  • BREXIT - Shipping agent / Custom Broker Records

    On each sales order:

    • The customers EORI and VAT number should show under the address on the sales order GUI. (Pulled through from the account records) This will highlight to staff taking the order that this information is missing and must be obtained…
  • Is it possible to setup invoicing for government margin scheme https://www.gov.uk/vat-margin-schemes?

    Is it possible to create an invoice for product where part of the price is charged 0% VAT and part of it charged at 1/6th as per the Government margin scheme. Then send customer an invoice showing totals only e.g.

    • For a product sold at £560
    • Cost…
  • Reduced hospitality VAT Rate ends

    On 1 April 2022, the standard VAT rate for the hospitality sector reverts back to 20%. Find out how to manage this in your Sage software.

    Read more >

  • HMRC planned downtime

    HMRC have advised that due to scheduled maintenance the MTD VAT online services won't be available between 4pm Friday 14 January 2022 and 9am Monday 17 January 2022. This means you won't be able to submit returns online during this time. 

    Find…

  • Fuel Scale Charges - Reclaiming VAT on fuel

    If your company is registered for VAT, you can reclaim the VAT on fuel provided by your company for private and business mileage with company cars.

    In return, HMRC requires a charge to be paid. You should calculate the charge for each vehicle from the…

  • Voluntary VAT registration and Making Tax Digital

    From April 2022, Making Tax Digital (MTD) is being extended to all VAT registered businesses, including those who are voluntarily VAT registered with a VATable turnover below the VAT threshold.

    If this affects you, you can read more and find out how to…

  • Remove the bounce in bounce out of VAT option for EU Suppliers

    I have been told by HMRC that the entries for VAT on imports from the EU should only be entered when a Postponed VAT Statement is issued.  

    At the moment Sage does this 'magically' but it is not necessary correct for timing.

    Please would you remove…

  • Brush up on VAT Returns

    Build your confidence in running and reconciling your VAT Returns in Sage 50cloud Accounts with this week's free 30 minute Webinars on Tuesday and Wednesday this week:

    • VAT - A perfect VAT return in Sage 50cloud Accounts
    • Running reports to reconcile…
  • Managing VAT

    Looking at VAT? There's a dedicated area of the Help Centre that cover the subject in depth from schemes, to submitting returns to common queries. The VAT Hub also features some handy video overviews and links to free training at Sage University.

  • Check if a transaction is VAT reconciled

    When you reconcile your VAT Return in your software, all transactions that were included in that VAT Return are flagged as VAT reconciled.

    If you later need to check if a transaction has been VAT reconciled, for example, for audit purposes or error corrections…

  • VAT rate change - 01 October 2021

    The temporary VAT rate for the hospitality, holiday accommodation and attractions sectors is changing to 12.5% from 1 October 2021.

    Find out more >

  • VAT Return hints and tips

    We know that running your VAT Return probably isn't your favourite task, so we've put together our top hints and tips to make your next VAT Return hassle free.

    Read more >

  • Forgotten to reconcile your VAT Return?...

    ...don't worry, our quick guide will help tyou to put this right:

    Read more >

  • VAT Return Hints and Tips

    We've collated some top tips and best practice for calculating an accurate VAT Return.

    Check out the guide now >

  • Add the ability to add a credit line to a purchase order

    Sometimes if we receive quotes for products they are individually discounted by percentage, sometimes they just have an amount deducted off the bottom. This leads to PO's and importantly VAT not being correct. For example, i have a quote in front of me…

  • HMRC changes for customers who pay VAT by Direct Debit

    HMRC are currently undergoing work on the transformation of VAT services which will involve migrating customers to a new IT platform. This impacts customers with an existing Direct Debit. 

    UK banking regulations require HMRC to hold a valid contact point…

  • VAT Queries - Help at hand

    If you're VAT registered, you can use Sage 50cloud Accounts to submit your VAT Returns to HMRC. We've pulled togther our support resources for VAT in one support Topic on the help centre to assist you with this topic.

    Take a look now >

  • UK VAT Return VAT Label changes

    From 8 April 2021, HMRC changed the names of some of the boxes on the UK VAT Return to reflect that the UK is no longer part of the EU and to recognise the Northern Ireland Protocol changes.

    Read more > 

  • Changes to E-commerce VAT in the European Union (EU)

    From 1 July 2021, there are changes to the way VAT is handled for online sales from businesses worldwide to consumers (B2C) in the European Union (EU).

    The purpose is to make it easier for those selling to consumers across the EU’s national borders, in…

  • Tip - Ensure your VAT Return is accurate

    Before you run your VAT Return, it's useful to check for non-standard tax codes on your sales and purchases.

    This can highlight transactions where an incorrect tax code may have been used. It's quick and easy to do in the Accounts audit option.…

  • VAT - Get to grips with tax codes

    If you're unsure which tax codes affect which area of your VAT Return, why not use our quick guide to help you get your VAT right every time.

    Read more >