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VAT code

VAT code for missing invoices

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Hi, 

I need to run a VAT Return and I have some missing invoices (for fuel) which I know they have VAT. I am not going to deduct the VAT on those invoices; however, I am not sure what tax code to use in SAGE. Should I use the normal tax code and enter vat 0, or should I use the tax code for 0 VAT?

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Scalloway Castle
By scalloway
21st Oct 2019 17:02

I would use the normal 20% code but put VAT at £0.
00

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RLI
By lionofludesch
21st Oct 2019 17:28

Bless me - "a few" invoices for fuel ? How many's a few ?

I'd just claim the 20%. Never met a VATman that picky.

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Replying to lionofludesch:
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By brumacosmin
21st Oct 2019 17:53

Hmm, about 15, but I do not want to claim it. Rules are made to be followed.

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RLI
By lionofludesch
21st Oct 2019 18:03

Here's me thinking that they were made to be broken.

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Replying to lionofludesch:
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By brumacosmin
21st Oct 2019 18:05

I agree, but it's not just about the rules, I just don't want to claim the VAT because there is no point as long as I do not have receipts. I am not gonna get richer with £100. Anyway, if you could answer my question would be great.

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By JoF
21st Oct 2019 18:08

Its been answered

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RLI
By lionofludesch
21st Oct 2019 18:14

Nobody really looks at box 7 anyway.

Why not create your own code, so that you can keep a track of those missing bills ?

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Replying to lionofludesch:
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By JoF
21st Oct 2019 18:19

I would Lion, but I keep my clients receipts and my own a wee bit more carefully than the OP does! Chuckle!

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By kevbrownuk
24th Oct 2019 21:54

As far as the product is concerned and the effect it will have. Using T0 will have the same effect as T1 if you put £0 in the VAT box, provided you are putting £0 in the vat column then both will just display the net amount in the appropriate box. The only thing here is that if you use T1, and you are using the checks which the VAT return creates it may throw these transactions up as potential issues as its expected to see 20% but as long as you are aware of that then its fine. (if you want to be able to 'tag' these items to refer back to in future, i would advise assigning them against a department if you do not use departments already.

Kevin Brown
Regional Development Manager
Sage UK

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