To change the VAT rate in Sage Accounts
To change the standard rate of VAT in Sage Accounts, you should edit the standard rate tax code, T1 by default.
Note: You should make this change on 4 January 2011.
- Open the Settings menu, choose Configuration then click the Tax Codes tab.The tax code information appears.
- Select T1 then click Edit.Note: If you use a different tax code for your standard rate of VAT, select the relevant tax code then click Edit.
The Edit Tax Code window appears.
- In the Rate box, enter 20 then click OK.The Edit Tax Codes window closes.
- To apply the change and return to the Sage Accounts desktop, click Apply then click Close.Tip: If you are prompted to save your changes, click No.