There may be on occasion, the need to amend VAT codes. Rates may change, codes might become recoverable. As such, the ability to edit VAT codes can be done by doing the following:
Note: You're responsible for what's reported to HMRC. If you're not sure what code, EC type to use or where a code should appear on the VAT return, please contact HMRC.
Click System then click VAT.
Select VAT Rates.
Select the VAT code.
Edit the description and the following fields:
Use | You can use this to limit down the code to only be used in a certain transaction type:
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VAT recovery type | The options available
If you select partial or non-recoverable then further options are made visible including:
On the partial recoverable section, you're also presented with an Effective from Date and a Recovery percentage rate. |
VAT return | In this grid, it defines where the code shows on the VAT return or select to exclude from VAT return entirely by selecting the box at the bottom of the grid. |
5. Click Save.