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Which Taxcode

Hello

Which taxcode should I use in SAGE for a purchase in the EU using a sterling debit card ? 

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18th Apr 2012 14:26

You are confused
The taxcode is all about what you are purchasing and from whom. It is nothing to do with how you pay for the item concerned. If you are VAT registered yourself and purchasing from a business in the EU, they are probably registered for VAT as well. Assuming they are registered for VAT, you will need to give them your VAT number. They can quote this on their invoice and if they are selling goods to you they then shouldn't charge you their VAT. That would mean a T8 tax code for entry to Sage.

If you are purchasing services, things could be a lot more complicated and you should look at the VAT information on the HMRC website.

It sounds as if it's rather late in the day as the purchase has now been done. In future you should be clear about EC VAT purchases/sales before you do the transaction.

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By Abacuss
18th Apr 2012 15:09

Thanks for your quick reply. Its just the MD used his company debit card so I have  no idea what the purchases were for.

 

 

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