How to account for VAT on business purchases with no valid VAT receipt

What do people do in these situations? Obviously you should not claim the VAT back but which Sage VAT code should you use? My predecessor used VAT code T0 - is that right?

  • Hi Patricia,

     

    Thanks for using Sage City.

     

    The T0 tax code is the default code for zero-rated transactions. You can find full info on the default tax codes and how they affect your VAT Return here.

     

    If this has answered your question please click More > Verify Answer.

     

    Regards,

     

    Paul

    Sage UKI

  • Hi

    if you were charged vat you need to have a valid vat number on the invoice, or receipt its the law.

    is the invoice / receipt lost ?  Most businesses accounting vat correctly will issue you with a copy receipt or invoice.

    If you were charged vat and the seller cannot issue a vat receipt to you.........