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Which Tax code?

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Zosorory
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Which Tax code?

Post by Zosorory » 24 Mar 2018, 05:41

Hi, using Sage 59 Professional, 2013, with Windows 10.
Im in a Ireland, though the tax codes are generally the same.
On occasion we buy goods, both for resale and not for resale, from a non Vat registered supplier.
What are the appropriate respective T codes for these invoices?... Thanks, Ray

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brucedenney
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Re: Which Tax code?

Post by brucedenney » 24 Mar 2018, 10:21

Here is the list for the ROI

Default tax codes - ROI


T0 Zero rated sales and purchase of goods for resale
T1 Standard rate sales and purchase of goods for resale
T2 Exempt transactions for sales and purchase of goods for resale
T3 Reduced rate sales and purchase of goods for resale
T4 Sales of goods to VAT registered customers in the EC
T5 Exempt import of goods from suppliers in EC for resale
T6 Exempt import of goods from suppliers outside EC for resale
T7 Zero rated purchases of goods from suppliers in the EC for resale
T8 Standard rate purchases of goods from suppliers in the EC for resale
T9 Transactions not involving VAT
T10 Zero rated purchase of goods for non-resale
T11 Standard rated purchase of goods for non-resale
T12 Exempt purchase of goods for non-resale
T13 Reduced rate purchase of goods for non-resale
T14 Zero rated export of goods to customers outside EC
T15 Exempt import of goods from suppliers in EC - non-resale
T16 Exempt import of goods from suppliers outside EC - non-resale
T17 Zero rated purchases of goods from supplier in EC - non-resale
T18 Standard rate purchases of goods from suppliers in EC - non-resale
T19 Zero rated purchases of goods from suppliers outside EC - resale
T20 Reverse charges
T21 Zero rated purchases of goods from suppliers outside EC - non-resale
T22 Sales of services to VAT registered customers in EC
T23 Zero-rated purchases of services from suppliers in EC
T24 Standard-rate purchases of services from suppliers in EC
T25 Reduced rate purchases of goods from suppliers in EC - resale
T26 Reduced rate purchases of goods from suppliers in EC - non-resale
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Zosorory
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Re: Which Tax code?

Post by Zosorory » 25 Mar 2018, 01:07

Thank you... I do have this list from Sage.
So, for purchase of goods for resale, bought from a company or individual in Ireland who is not registered for VAT, I appear to have the following options :

T0 Zero rated
T2 Exempt
T9 no VAT involvement

What would you suggest, thinking in particular of getting the subsequent RTD report to be correct?
Thanks for your help... Ray

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brucedenney
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Re: Which Tax code?

Post by brucedenney » 26 Mar 2018, 09:37

Under the UK system I think it is exempt.

I am not qualified to provide tax advice, please check with your local VAT office of a qualified professional.
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