SAGE VAT codes
Sage uses the following codes for VAT:
- T1 - standard rate VAT
- T2 - exempt (eg. stamps, insurance, aire fares, bank charges, financial services
- T4 - EC Sales
- T5 - lower rate VAT (eg. electricity, gas, women’s sanitary products)
- T9 - not involving VAT/outside scope of VAT (eg. suppliers that are not registered for VAT, road fund licences ie. car tax, bank interest)
Happy Accountant | Friday Blog, VAT
