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  • 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…

  • How to change a transaction date

    Good afternoon,

    I have been setting up a client in Sage Business Cloud Accounting by importing their bank statements from the day they started trading. Their first VAT return was filled through another system. I created an income transaction from a payment…

  • Prevent the selection of XI and XU when entering your company details

    The new XI and XU country codes were added for use in the Republic of Ireland only (to be selected against customer and supplier accounts in Northern Ireland (XI) and potentially GB (XU).

    It should not be possible to select these country codes in Company…

  • 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 >

  • 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 >

  • 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 >

  • ALERT: Changes to VAT on Hospitality, holiday accommodation and attractions in the UK coming into effect 1st of April 2022

    What's changing?

    The temporary UK VAT rate of 12.5% for the hospitality, holiday accommodation and attractions sectors is coming to an end and will revert to the normal standard VAT rate of 20% from 1 April 2022You can find out more about the changes…

  • Why are there 3 nominal codes for VAT?

    Hi all

    My system shows the following 3 nominal codes for VAT:

    2200 Sales Tax Control Account

    2201 Purchase Tax Control Account

    2202 VAT Liability

    Surely, VAT liabiity = Sales Tax - Purchase Tax, so why have a seperate code for VAT Liability?

    Secondly…

  • ALERT: Polish Legislation addon - 2021R4 (12.0.28): JPK_V7 file refused

    After installation of the 2021R4 release, the JPK_V7 file may be refused by the government site.

    The hotfix SRC_XD_271820_hotfix_2021R4.dat has been published to fix the issue.

    The hotfix is available for download from our FTP site  SRC_XD_271820_hotfix_2021R4…

  • ALERT: « EU VAT ID validation » – Error 500

    When validating EU VAT IDs, independent of X3 release, customers get an error 'error 500 Failed to parseField countryCode'. This is due to the change in the VIES service as provided by the European Community.

    This error is going to be fixed…

  • ALERT: 2022 VAT Changes for Austria

    The Austrian Federal Ministry of Finance has issued a modified version of the VAT report form at the end of September 2021.

    The changes are due from January 2022.

    For V12:

    Changes will be delivered in the 2022R2 release.

    They are now available through…

  • ALERT: Spanish Legislation – VAT Register books (V12 and V11)

    Some changes regarding IVA and IRPF have been announced by the Spanish Tax authorities. They are due from January 2022.

    For V12 :

    • they will be delivered in the 2022R2 release
    • they are now available through the service pack "Service Pack -12_0_29 CONSSPLIB…
  • Bank Feed Review - Suppliers No VAT default

    Hi,

    Why is it that some of my suppliers on the Banking review page, have VAT set as a default NO VAT which cannot be changed? I have checked the suppliers accounts and they are set to standard VAT and they all have their VAT numbers in place.

  • 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 some of your clients, you can read more and…

  • 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…

  • Finding the right tax code

    Our tax code finder article can help you find the right tax code to use when recording sales and purchases in Sage 200. Why not bookmark it so it's handy when you need to check?

    Tax code finder >

  • 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…