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New V.A.T. Application

Bookkeeping and Management Accounting help does not have to be specific to the use of Sage 50
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Alan Clark
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New V.A.T. Application

Post by Alan Clark » 14 Jan 2011, 11:28

What 'T' reference should I use for the new V.A.T. rate of 20% from 04/01/11? Should I amend the current T1 rate from 17.5% to 20% or should I start a new 'T' reference?
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brucedenney
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Sage Version: v30 UK/Europe/Africa

Re: New V.A.T. Application

Post by brucedenney » 17 Jan 2011, 18:13

You can do either.

As this is a permenant change, I suggest using T1 as this will cause least confusion in the long run.
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